The UK's offer The world’s largest commercial and specialist insurance market, operating in 200+ countries worldwideLeading expertise in complex risks such as cyber and climate-related risksA talent pool of over 300,000 people working in the UK insurance industryOver 400 authorised insurance companiesEurope’s largest insurtech hub – the only global insurance hub with a leading technology ecosystemA large and developed consumer market for insurance products Future-focused risk management The UK's dynamic ecosystem, mature market, with deep reserves of capital and expertise equip it to manage complex and challenging risk. It is home to Lloyds, the world's largest most mature specialty insurance market, operating in over 200 countries worldwide. London's specialism and reach make it possible to insure virtually any activity in any location. Close to 70% of London Market’s premium is sourced outside of the UK. From cyber insurance, climate-related risks mitigation to insurtech innovation, the UK insurance sector continues to evolve to serve the world’s changing needs. London’s global connectiveness and specialist expertise place it in a strong position to provide future-focused solutions. Innovating Insurance The last report in our 'Powering the fintech revolution' series draws on insights and case studies highlighting how insurtech has the potential to innovate the insurance industry. Download 'Innovating Insurance' Leading innovation in the sector The natural home of innovation, the UK ecosystem brings startups and tech firms together with the brand power, experience and capital of more established firms. This has led to new product development, more relevant coverage, capabilities and platforms in the fast-growing insurtech sector. Securing the future London is the only location that is a global insurance hub and also a cyber-security hub. 25% of all global cyber insurance goes through the City of London Securing the future Home to innovation The UK is Europe’s insurtech hub. London has the same number of insurtech unicorns as the rest of Europe combined, and globally is second only to Silicon Valley. Home to innovation Expertise and reach The London Market is the largest global insurance hub with US$159bn of gross written premium. The Association of British Insurers publishes further statistical information about the UK insurance industry. Find out more from ABI 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 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 £1.5tn UK-based insurers UK-based insurers hold £1.5tn in assets £36bn contribution to UK economy The UK insurance and long-term savings industry contributes £36bn to the UK’s economy US$159bn of premiums written by the London Market - the largest global hub Read now London Insurance Market’s solutions for tackling climate change London Insurance Market’s solutions for tackling climate change Magnet for trade In 2022 the UK recorded a trade surplus of £17.4bn in insurance and pension services, one of the largest surplus of the world's major insurance economies Partner Story Aon Aon Partner story Lloyd's Lloyd's Partner Story Flock Flock Partner story Many Pets Many Pets See more Case Studies "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 Everything you need The UK offers you everything you need to grow your business. We have a global outlook, which means we understand your business needs. The depth and breadth of our offer mean unparalleled opportunities for you to grow. Innovation is what we do - creating an inspirational ecosystem where you can thrive. Choose the UK Innovation Open and global Business environment Opportunity Talent Industries A UK-wide offer 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