The UK's offer The world’s largest commercial and specialist (re)insurance marketWorld-leading expertise in specialist and complex risk managementGlobal reach – close to 70% of the London Market’s business comes from companies outside the UK Home to Lloyd’s of London and over 350 brokerage and insurance firms, offering companies flexibility and choice Access to deep pools of capital, talent, innovation and technology ecosystem Future-focused risk management The UK is home to the most dynamic and innovative insurance market. Its commercial specialty (re)insurance market – the London Market – is the largest globally and the destination of choice for mitigating and managing complex risk. London’s reach enables it to serve insurance needs in any location. Close to 70% of the London Market’s premium is sourced outside of the UK. The London Market is home to the world-renowned Lloyd’s of London as well as over 350 brokerage and insurance firms, offering companies flexibility and choice. The London Market’s world-leading expertise and deep pools of capital mean it is capable of insuring a wide range of established and emerging risks. For more than a century it has been providing protection against climate-related risks. It has since expanded its offerings to include risks related to AI, cybersecurity, geopolitical events, and supply chain management. US $159bn of premiums written by the London Market – the largest global hub 43% of all aviation, energy and marine insurance worldwide provided by the UK market Top 20 London is the only place where every top 20 insurance and reinsurance firms has a presence 8% of total global (re)insurance market was controlled by the London market in 2022, making it the largest underwriting centre in the world Chief Risk Officers Summit Chief Risk Officers Summit Discover how we work with the insurance industry UK’s commercial speciality (re)insurance sector (the London Market) is the destination of choice for mitigating and managing risk. The City of London Corporation is committed to reinforce and foster this message through its insurance focus work. We are pleased to be working together with the Insurance Steering Board of industry leaders in supporting the London risk market on its growth journey. Discover more Leading innovation in the sector The London Market delivers innovative solutions to a wide range of insurance needs. Securing business operations against cyber risk With nearly 600 cybersecurity product and service providers, London has a unique concentration of cybersecurity and underwriting expertise which makes it a natural hub for cyber risk. Securing business operations against cyber risk Insuring companies against natural catastrophe risks Across the world, there is a significant level of uninsured risk in the event of extreme weather. The London Market offers solutions for climate risks that many domestic markets are unable to insure. Insuring companies against natural catastrophe risks Offering protection in an increasingly uncertain world Rising geopolitical uncertainty is exposing businesses to increased risk. London is the only market place with the appetite, knowledge and experience to take on global geopolitical risks at scale. Offering protection in an increasingly uncertain world Managing complex supply chains Global supply chains are complex and opaque. The London Market’s deep knowledge of areas like marine, aviation, and energy risk make it uniquely positioned to insure against supply chain risk. Managing complex supply chains Safeguarding the use of AI AI brings both benefits and unforeseen risks. The London Market’s access to a sophisticated tech ecosystem ensures it can expertly underwrite these risks and use AI tools to increase productivity. Safeguarding the use of AI Download Innovating Insurance Innovating Insurance The future of cyber insurance 25% of all cyber insurance flows through the City of London. Discover the ambition for London to become the pre-eminent global hub for cyber insurance, the benefits this will have for the broader UK, and how the London cyber security ecosystem and insurance industry can collaborate to achieve this. Read the full report £17.4bn trade surplus in insurance and pension services in 2022 One of the largest surplus of the world's major insurance economies 32% The London Market contribution to the City’s GDP It also employs nearly 60,000 people – the second largest workforce in the City after banking £1.5tn UK-based insurers UK-based insurers hold £1.5tn in assets Related insights The London Market expertise at work The London Market expertise at work Related insights Lloyd's Lloyd's Related insights Aon Aon Related insights London's world leading approach to managing global financial risks London's world leading approach to managing global financial risks Related insights The London Market's solutions The London Market's solutions See more Insights "The London Market is the largest commercial and specialist insurance market in the world. We support clients with a huge number of complex deals across all types of risks – including in new technologies and climate risk – and a lot of that capital is reinsured or structured via London because of the technical ability and wide range of platforms and expertise we have at our disposal here." Mark Parker, Head of London Global Broking Centre Aon "The talent pool here is excellent both in insurance and technology. And there is a large pool of technical resource in the UK. It's a place that people are attracted to come and work. There's a lot of opportunity here for people" Gethin Jones and Laurent Sabatié, Co-Founders Skyline Partners 1 2 Need more information? The City of London Corporation London & Partners Invest in Great TheCityUK Innovate Finance Association for Foreign Banks Association of British Insurers The Investment Association AFME UK Finance London Makes it Possible