London has cemented its position as the world's biggest centre for commercial insurance through a focus on specialist risks but its workforce is ageing and the sector needs to attract young people, a report said on Tuesday.
LONDON - London has cemented its position as the world’s biggest centre for commercial insurance through a focus on specialist risks but its workforce is ageing and the sector needs to attract young people, a report said on Tuesday.
London wrote $110 billion in gross written premium in commercial insurance and reinsurance in 2018, increasing its lead over Bermuda, Switzerland and Singapore combined to $23 billion from $16 billion in 2015, the report by lobby group London Market Group and consultants McKinsey showed.“There was a fear that Bermuda would come and eat our lunch and there would be a gravitational pull away from the London market - that hasn’t happened,” said Clare Lebecq, Chief Executive of LMG.
But in global reinsurance - insuring the insurers - London’s market share fell by 1.7 percentage points. The London market is also ageing - 26% of the workforce was over 50 in 2019 against 16% in 2014, while the proportion of workers under 30 shrank to 20% from 23%.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China urges its firms to list in London in renewed global push: sourcesChina is urging domestic companies to look at listing in London, several sources told Reuters, as the country aims to revive deals under a Stock Connect scheme and strengthen overseas ties in the wake of the coronavirus crisis.
Lire la suite »
Loose Women star Nadia Sawalha is sharing live CCTV inside London home during coronavirusLoose Women panellist Nadia Sawalha lives with husband Mark Adderley and their two daughters.
Lire la suite »
Kelly Brook gives fans garden envy as she enjoys BBQ at £3million London homeKelly Brook's London home features a beautiful garden with outdoor dining area
Lire la suite »
Kate Middleton makes stunning new appearance in elegant floral Beulah London dressKate Middleton has made a stunning new appearance wearing a beautiful new dress from Beulah London. See and shop her outfit
Lire la suite »
Dr Alex gives tour of £250k London ambulance as he saves lives on frontlineLove Island's Dr Alex George generously gave his fans a tour of a London ambulance and insight into life as a paramedic on the frontline
Lire la suite »
‘Ladies of London’ Star Julie Montagu Thinks Meghan Markle and Prince Harry Are “At a Point of No Return”'Ladies of London' Star Julie Montagu thinks Britain was 'sad' when Meghan Markle and Prince Harry moved to America but thinks the former royals are past 'a point of no return.'
Lire la suite »