The UK Government has developed an insurance growth action plan to help companies increase business and to shore up Britain’s role in the sector amid competition from rivals.

“The UK is one of the most competitive places in the world to undertake insurance and the Government is committed to do whatever it can to sustain and sharpen the UK’s competitive edge,” the plan says.

The Financial Services Trade and Investment Board has agreed to promote insurance as one of its top priorities, helping companies take opportunities in high-growth markets such as Brazil, China, India, Indonesia and Turkey.

Proposals include senior government and private sector visits and prioritising insurance in free trade negotiations.

About 30% of UK insurance sector premium income comes from overseas, and larger British insurers already have a growing presence in emerging markets, the plan says.

Measures to promote the country as an insurance centre include marketing campaigns, improving the application and authorisation process and expanding Islamic insurance expertise.

The Government says the recent Solvency II agreement has paved the way for insurers to invest in UK infrastructure and growth projects looking for long-term financing.

Aviva, Friends Life, Legal & General, Prudential, Scottish Widows and Standard Life will work with government regulators and other interested parties to deliver at least £25 billion ($45 billion) of investment in infrastructure in the next five years, the plan says.

Other strategies include improving information available to consumers in the domestic market and increasing industry training.

Association of British Insurers Director-General Otto Thoresen says the infrastructure investment plan will help drive a competitive economy.

“Insurers have a key role to play in contributing to the UK’s economic growth, as providers of long-term capital investment,” he said.