Average Insurance Underwriter Salary UK
The average Insurance Underwriter salary in UK is £47,718.41.
Insurance underwriters decide if applications for insurance cover should be accepted or escalated and what the terms are if acceptance. They assess the risk of insuring a person or company in accordance to the risk of a claim being made. They work closely with actuaries, brokers and risk and claims managers
Average Salary: £47,718.41
Min: £23,000 Max: £97,500
Average Salary in UK: £47,718.41
Read about Insurance Underwriter salaries and related job and salary information across the UK
Salary by Region
Compare Insurance Underwriter salaries across different regions
Location |
Salary |
Insurance Underwriter
salary Scotland |
£25,325.67 |
Insurance Underwriter
salary Wales |
£25,148.00 |
Insurance Underwriter
salary East Midlands |
£36,424.94 |
Insurance Underwriter
salary Eastern |
£34,006.91 |
Insurance Underwriter
salary London |
£63,408.61 |
Insurance Underwriter
salary North East |
£31,879.00 |
Insurance Underwriter
salary North West |
£43,395.94 |
Insurance Underwriter
salary South East |
£36,794.96 |
Insurance Underwriter
salary South West |
£38,916.43 |
Insurance Underwriter
salary West Midlands |
£44,417.91 |
Insurance Underwriter
salary Yorkshire and the Humber |
£37,424.40 |
Average Insurance Underwriter salary
The average salary for Insurance Underwriter jobs is a valuable metric for employees, employers, and candidates. The salary information can be a helpful insight when advertising jobs, making a job search, applying for jobs and negotiating salary.
Newly qualified Insurance Underwriter basic salary
Newly qualified Insurance Underwriters should expect to start their career with a salary that is lower than the UK average earnings for the role. It can take several years working as an Insurance Underwriter to achieve the average UK salary.
Your initial per year salary may also be influenced by factors such as the region and city where you work, with London typically offering more than other major cities. Whether you work in England, Scotland, Wales, or Northern Ireland will also alter the job’s average gross and net earnings.
Fully qualified Insurance Underwriter salaries
Your experience level directly affects where in the salary range your earnings will fall. Senior salaries are usually achieved by those who become fully qualified in their field.
Insurance Underwriter career development
In the Banking and Insurance industry, you might be rewarded for the number of years you have worked with the employer. However, promotions and higher pay per year cannot always be achieved by remaining in the same department or company.
Professional development and specialising in a specific area will warrant an appropriate salary increase. Still, you might need to consider setting up a job alert, making a job search, and moving to another company or department to maximise your earnings or find relevant opportunities for progression.
Insurance Underwriter take home pay
In the United Kingdom, your career decisions should not be solely focused on take-home pay. Your average total compensation may include benefits that offer more value than a paycheque.
For example, health insurance, a company vehicle, part or full-time remote working, company share schemes, higher paid annual holiday days, a short commute, and maternity and paternity leave are benefits that can contribute towards your living standards, work/life balance, and job satisfaction.
Increase your annual salary with an Insurance Underwriter pay rise
A pay rise can raise your earnings per year and should be compared against the Banking and Insurance industry average salary pay rise. Comparing your salary rise against metrics such as inflation will tell you if you will be better or worse off during the following year. It would help if you also weighed up your pay increase against the nation's cost of living increase.
If you intend to negotiate a rise above the UK average salary, you will need facts, figures, and percentages to quantify your rise. Before negotiating better pay rates, you should prepare yourself for the discussion. Bring together all the evidence that adds weight to your case for a higher salary, including the average Insurance Underwriter wage, your qualifications, achievements, and recognition.
Get paid more than your job’s average base salary with further training
Further qualifications and training will help you increase your average earnings. Training options include job-relevant diplomas, A levels, and degrees. Completing a course on a specific topic, application, or equipment will also improve your earning potential.
Earn more per year with extra shifts
Working overtime is another option that will help you be paid more than an average salary for your job. If your personal circumstances and commitments allow, you could also work unsocial hours with an hourly pay rate higher than your standard hourly rate.