Strengths of Scotland's insurance industry
The strengths of the Scottish insurance industry are widely recognised:
- Insurance companies provide over 20 percent of financial services industry jobs in Scotland
- Scottish based operations service a UK-wide customer base
- 24 percent of all UK insurance industry employment is in Scotland
- Life assurance companies based in Scotland manage over £726 million of funds
- Scottish insurance companies also manage annuities, health insurance and investment products
Scotland’s working population is one of the best trained, most reliable and cost-effective in the world with Scottish universities producing thousands of high-quality graduates every year.
Standard Life, Scottish Widows, AEGON UK and Bright Grey (part of Royal London) have their headquarters here.
Scotland’s insurance industry infrastructure
The insurance sector in Scotland benefits from an active support network, with a community of providers, professional advisors and support services, including
- Specialist HR firms
- IT companies and consultants
- Business consultancy
- Outsourcing and legal services
- Risk management
Scotland also provides a supportive business and political environment that is committed to the continued success of the insurance sector.