{"id":24763,"date":"2025-09-16T10:57:10","date_gmt":"2025-09-16T10:57:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/24763\/"},"modified":"2025-09-16T10:57:10","modified_gmt":"2025-09-16T10:57:10","slug":"london-market-premiums-exceed-100bn-for-second-year-running","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/24763\/","title":{"rendered":"London market premiums exceed \u00a3100bn for second year running"},"content":{"rendered":"

Premium income in the London company market increased by 1.7% to \u00a349.3bn in 2024, according to the International Underwriting Association\u2019s (IUA) London Company Market Statistics Report.<\/p>\n

\"GettyImages-861004644\"<\/p>\n

The figure included \u00a343.8bn underwritten in London and \u00a35.5bn of controlled business written overseas, but managed through London operations.<\/p>\n

When combined with Lloyd\u2019s 2024 results, the total London market premium reached \u00a3104.8bn. 2023 was the first time the combined income of the\u00a0London company and Lloyd\u2019s markets exceeded \u00a3100bn.<\/a><\/p>\n

The data also showed that direct and facultative business written in London fell by 1% year-on-year to \u00a331.8bn, while treaty business grew by 10% to \u00a312bn.<\/p>\n

Treaties now account for 27% of all business written in the capital.<\/p>\n

By class of business, property remained the largest line at just under 30% of London premiums, while liability accounted for 14% and marine 13%.<\/p>\n

Meanwhile, professional lines premium dropped to \u00a34.6bn, the lowest level since 2020. Meanwhile, motor premium rose 20% year-on-year to \u00a34bn.<\/p>\n

US and Canada pass premiums turning point<\/p>\n

The UK and Ireland represented over half of all premiums written in London, but the US and Canada passed the \u00a310bn mark for the first time, now making up almost a quarter of the total market compared with 16% in 2019.<\/p>\n

Scott Farley, director of communications at the IUA, said: \u201cOnce again, our study has clearly shown the importance of the London company market to the financial services sector and wider UK economy.<\/p>\n

\u201dIt offers a unique data set, illustrating the premiums earned by world-leading insurers and reinsurers.\u201d<\/p>\n

Farley added that members remained optimistic about future growth despite \u201cpossible clouds on the horizon\u201d such as geopolitical risk and trade barriers.<\/p>\n

He said many firms reported strong client retention alongside plans to expand in core lines and explore new opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"Premium income in the London company market increased by 1.7% to \u00a349.3bn in 2024, according to the International…\n","protected":false},"author":2,"featured_media":24764,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[72,61,60,123],"class_list":{"0":"post-24763","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-ie","10":"tag-ireland","11":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/24763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=24763"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/24763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/24764"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=24763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=24763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=24763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}