Starpeak has reported a 24% increase in gross written premiums (GWP) in 2025, outperforming its 20% growth target and carrying strong momentum into 2026.
The performance underscores growing appetite among smaller businesses for tailored cover and enhanced digital journeys. The company said growth was underpinned by demand across its SportsCover Direct and Protectivity brands, as well as sector-focused product launches for catering, film, media and salons.
A fertile ground
Founder and managing director Julian Hucks (pictured, left) described the 24% year-on-year performance boost as evidence that specialist and underserved SME segments remain fertile ground for insurers prepared to innovate on product design and distribution.
"“We set a clear growth target of 20% for 2025, so to deliver 24% growth in the calendar year puts us firmly ahead of plan. Our continued focus on specialist markets, alongside investment in our brand and customer experience, is driving sustainable momentum across the business," Hucks said.
Meanwhile, commercial director Andy Brownsell (pictured, right) added that Starpeak's planned scaling of operations and technology capabilities will support further growth in 2026, with two new specialist products expected to launch in the personal lines and micro-SME sectors.
"With new specialist products and existing lines performing strongly, we are well positioned for continued growth into 2026 and beyond," Brownsell said.
Looking ahead, the company said that its strategy for this year will centre on operational improvements and scalability, using its tech capabilities to support growing volumes of customers with greater efficiency.
Expansion in the market
Starpeak’s results come amid a broader expansion of the UK SME insurance market. Recent industry research estimates the UK SME commercial insurance market generated around £15.5 billion in gross written premiums in 2023 and could reach more than £17 billion by 2027, reflecting steady growth and continued penetration opportunities.
With roughly 5.5 million SMEs comprising more than 99% of UK businesses, the scale of this sector presents a major commercial opportunity for insurers and brokers alike.
Despite this potential, the market remains complex. SMEs operate across thousands of industries, often with unique risk profiles that standard cover packages struggle to address. Underinsurance is also prevalent -- a significant proportion of SMEs lack adequate cover, particularly in professional indemnity, public liability and cyber. Insurers that develop flexible, sector-specific solutions and better risk profiling stand to capture more of this under-penetrated market.
For the wider market, Starpeak’s trajectory suggests that insurers willing to invest in product innovation, customer experience and sector-specific expertise can not only grow premiums but also strengthen overall resilience in the SME insurance segment.
