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Insurance

Experts in insurance

The UK's offer

  • The UK is the 4th largest insurance market in the world and the largest in Europe.
  • A talent pool of over 300,000 people working in the UK insurance industry
  • The world's largest specialty insurance and reinsurance market, operating in 200+ countries worldwide
  • Almost 800 authorised insurance companies in the UK
  • A large and developed consumer market for insurance products
  • A reputation for reliability

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. In 2020 the London Market has seen almost 10% increase in commercial insurance premiums written since 2018.  London's specialism and reach make it possible to insure virtually any activity in any location. It the only place where every top 20 insurance and re-insurance firm is active, giving it unmatched global reach. 

The UK has one of the most extensive and sophisticated domestic consumer markets, and offers an extraordinary opportunity to firms in the sector.

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Expertise and reach

The UK accounted for 5.8% of global premiums and around one-quarter of premiums in advanced European economies.

The Association of British Insurers publishes further statistical information about the UK insurance industry.

Find out more from ABI

60%

of all aviation insurance worldwide

provided by the UK market

52%

of all energy insurance worldwide

provided by the UK market

33%

of all shipping insurance worldwide

provided by the UK market

£60bn

of premiums written by the London Market annually

almost double the next largest market - Bermuda

Leading innovation in the sector

The natural home of innovation, the UK ecosystem brings start ups 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 fast growing insurtech sector.

Securing the future

Cyber insurance is a key area of growth in London, with premiums growing by over 70% in recent years

Securing the future

Home to innovation

20 companies that feature in the InsurTech 100 operate in the UK, second only to the US at 39.

Home to innovation

The future of cyber insurance – next steps for the London Market

This new report covers 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

£1.8tn

UK-based insurers

UK-based insurers hold £1.8tn in assets

23.4%

Total EU premium income

The UK insurance and long-term savings industry generates 23.4% of total EU premium income

£29.1bn

Contribution to UK economy

The UK insurance industry contributes £29.1bn to the UK economy

5.8%

Global insurance premiums

The UK accounted for 5.8% of global insurance premiums in 2018

Magnet for trade

In 2019 the UK recorded a trade surplus of around £17.4bn of insurance and pension services, by far the largest surplus of the world's major insurance economies

Partner Story

Skyline Partners

Skyline Partners

Partner story

Agvesto

Agvesto

Partner Story

Zurich Insurance UK

Zurich Insurance UK

Partner story

AssetVault

AssetVault

See more Case Studies

"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

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

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