London Insurance Market
London is the world’s leading property and casualty insurance market, and is renowned for its professionalism, innovation and spirit of partnership. It is a unique marketplace, responsible for 10 percent of global premium and with a history stretching back to the 17th century. London is home to experienced underwriters and broking professionals, advanced technology infrastructure and a world-class regulatory system that ensure competitive, secure and agile markets.
Today, London is both a major international hub for the insurance market and its biggest marketplace in Europe. This makes it one of the top destinations for international insurers looking to expand their business. London is home to a large network of international insurers and experienced intermediaries, who play an important role in providing advice to policyholders and ensuring that claims are settled in a timely manner. With its high quality services, London attracts more than 2000 insurers from over 140 countries, with a wide range of players from the world’s largest groups to smaller local and specialist insurers.
London is not just a hub for property and casualty insurance but also for life, marine and specialty businesses such as aviation and energy. It is also the home of Lloyd’s of London, the world’s oldest and biggest insurance market for specialist risk. In addition, London’s professional services sector provides a full complement of legal, accounting and tax advice which facilitates international transactions and capital flows.
The London insurance market is an innovation-driven marketplace. Insurers and intermediaries in London have embraced modern technology to ensure they can provide their services both locally and to customers all around the world. The capital is constantly looking to strengthen its global market reach and scale up its services to meet the needs of current and future generations. London insurers and brokers have also found ways to reduce costs and ensure that they continue to provide exceptional customer service while maintaining underwriting and risk management standards.
As the gateway to Europe and beyond, London also offers positioning and connectivity advantages to insurers around the world. Companies located in the capital benefit from access to highly skilled professionals and cutting-edge technology and resources. Many of the world’s leading insurers and brokers base their headquarters in London, taking advantage of the city’s unparalleled services, infrastructure and expertise.
London is an exciting and vibrant place to do business and remain an undisputed world leader for insurance and risk. Whether you are an insurer or a broker looking for ways to expand your offering, London can provide you with the tools needed to make it happen.
