FCA publishes paper on UK pure protection market
The Financial Conduct Authority (FCA) has published a paper on the UK pure protection market for retail customers. It is one of two papers related to the pure protection market study that the FCA intends to publish in 2025 before an interim report is issued around the end of the year. In the paper, the FCA notes that the market is concentrated, with the top five insurers accounting for around 80% of new business premiums in 2023, while distribution remains fragmented. Although not a formal consultation, the FCA welcomes feedback by 15 October 2025.