The UK general insurance sector remains in good health in spite of the British recession, with net premium rising 3% last year to £34 billion ($62 billion).

Figures released last week by the Association of British Insurers (ABI) reveal net premium earned from foreign business climbed 13% to £54 billion ($98 billion).

General insurers pay £57 million ($103 million) in claims every day, according to the ABI.

The British insurance industry employs 313,000 people, comprising nearly a third of all jobs in the financial services sector. Job numbers increased 1.3% last year.

ABI Director of Research and Chief Economist Rebecca Driver credited the result on the “resilient” UK industry, but called on regulators to “strike the right balance” to encourage future investment in the region.