Average Insurance Salaries in the UK 2020

Everything you need to know about insurance salaries, helping you benchmark your salary, whether negotiating your pay or advancing your career.


We’re providing you the very latest information on average insurance salaries and trends impacting remuneration. Whether you’re a claims handler or loss adjuster, our salary research is based on industry trends and the thousands of recruitment and job searches performed each year. We hope to provide you the information you need to negotiate your salary or land a new job.


Pay within commercial broking has experienced rapid change brought on by uncertainty in the job market, rumours of offshoring banking in response to Brexit, shifting investor preferences, a tide of regulatory change and ongoing technological advancements impacting employers’ hiring plans. Fears over Brexit have prompted many firms to expedite their hiring to fill critical permanent hires, with what was previously a reliance on contract or contract-to-perm roles being brought into the firm on a full-time basis. While employers still report challenges in finding staff to fill niche roles, movement exists, with more hiring overall motivating finance professionals to consider new staff. As companies struggle to retain staff, candidates who demonstrate their value will find themselves in an advantageous position when negotiating their salary. We’re bringing you the latest in financial services salaries, keeping you informed about trends and factors that can impact your career.

Commercial broking salaries

The commercial broking sector has seen huge changes with many of the larger broking firms gaining backing from investment companies to hire additional brokers. This has allowed them to achieve non-organic growth quickly on top of attracting top talent to further expedite their expansion. This has resulted in a steady increase in commercial broking salaries, especially income producing roles, to help secure the right brokers to drive their business forward.

Personal lines insurance salaries

With the introduction of Insurtech, the Personal Lines sector has also seen a large shift in opportunities available on the market, although there is still a great demand for experienced personal lines brokers across the UK. Salaries have also seen a steady increase, and for new business-focused roles, better bonus/commission structures have been put in place, increasing total compensation for personal lines insurance salaries.


Insurance claims manager and executive salaries

Within claims there is a shortage of senior reinsurance professionals due to the advent of many senior professionals moving into claims adjusting roles. This shortage has led to brokers increasing salaries to remain competitive and attract talent. Broking clients are also looking for claims professionals who have dealt with both open market claims in addition to claims on binders; this has resulted in a slight increase in salaries for insurance claims managers and executives who have good broking experience in addition to technical skills.



Salaries within underwriting have stayed reasonably stagnant in recent years although many have found that there are increased benefits around flexible working hours etc. to help attract and retain staff. As insurance underwriters are expected to also possess soft skills such as negotiation and sales, the industry has seen more interest from professionals without a traditional underwriting background.


Claims management and claims handler salaries

Entry-level claims handlers have seen their salaries increase, particularly in regional areas as the result of increased competition within other industries. Many claims staff have found increased salaries by moving into analytical or IT-based roles and as their insurance specialism evolves, the opportunities will increase, enabling career progression and ensuing salary and compensation


Loss Adjusting Salaries

The sector has remained stable over the past year, with loss adjusting salaries remaining constant. The natural career progression – from dealing with domestic claims to commercial claims – still sees the largest increase in salaries for those within the profession.



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