The London Market group released the London Matters 2020 report yesterday with an overview of the role London continues to play in the global insurance market. It's a great read! It incorporates information on market size and dynamics, as well as the supply of capital that underpins it.
‘The London Market remains the largest global (re)insurance hub with $110bn of GWP in 2018.’
Furthermore, it transacts 7.6% of the commercial insurance and P&C RI globally.
To put it into perspective – Singapore’s market is 1/10th the size of London. Premium written in the market has shown a compounded annual growth rate 2.5% according to the report.
On the capital side of things, the report looks at the volume, the geographic breakdown of sources of capital, large M&A deals over the past decade and briefly goes into the impact that legislation has had on the growth of alternative capital.
We recently published our own report on the reinsurance market which calls out the six trends which determine the future of the sector. You can dive into it here.