The International Underwriting Association says London insurance market companies generated premiums of £49.2bn in 2025, which was 0.1% down on the previous year. The IUA collected data from 80 different firms and has published its findings in its London Company Market Statistics Report.

The report shows that property accounts for 29% of the market and is the largest class of business written in London. Liability and marine are the next biggest classes, each accounting for 14% of overall income.

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.”