The figures underline the importance of the London insurance market to the UK economy. Here’s the word;
London insurance market companies earned total premiums of £49.206bn in 2025, a new survey by the International Underwriting Association (IUA) has revealed. The total comprised £43.658bn underwritten in London, plus a further £5.548bn classified as ‘controlled business’ overseen and managed by London operations, but written in other offices, internationally or elsewhere in the UK.
Data from 80 different companies was aggregated for a new edition of the IUA’s London Company Market Statistics Report. It revealed that income for the sector was flat with the £49.206bn total representing a slight decrease of 0.1% compared to the previous year.
The publication analyses company market premiums by class of business, placement type and geographical origin. Property is the largest class of business written in London and, with 29% of market, is more than twice as large as the next category. Following property are liability and marine which each account for 14% of overall income.
This year’s report also displays differing year-on-year trends for direct and facultative business compared to treaty reinsurance written in London. The former totalled £32.338bn in 2025, up 1.9% compared to 2024. Treaty contracts meanwhile fell 6% to £11.270bn in 2025.
Geographically, the UK and Ireland accounts for over half of total income written in London and the USA/Canada is the most important international market, representing one quarter of premiums. Continental Europe is a more significant client base for ‘controlled business’ written outside of London and accounted for one third of such premiums in 2025.
Chris Jones, Chief Executive of the IUA, said: “The London Market has a strong reputation for the range of cover that it offers, and our report provides a unique and detailed insight into the insurance and reinsurance business transacted in 2025.
“This year’s figures reflect challenging market conditions in many sectors, although areas of growth are still evident. Direct and facultative premiums have risen almost 2% and whilst treaties are down, this follows a 10% jump the previous year.
“Many of our members have described the importance of risk selection and a disciplined underwriting approach in the current environment.”
Copies of the London Company Market Statistics Report 2026 are freely available to download at iua.co.uk/statistics.
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