UK mutual and cooperative insurers significantly outperformed their counterparts in the total UK insurance market in 2021, according to the International Cooperative and Mutual Insurance Federation’s latest UK Market InSights, a joint report by ICMIF and the Association of Financial Mutuals (AFM).

The sector saw annual growth of 17.1% in FY 2021, compared to total UK insurance market growth of 8.9%, a figure which represents the eighth year of positive growth for the sector in the last decade.