London remains the global leader in risk transfer by both size and market share, according to a report published by the London Market Group today.

In marine and aviation, London has a 45% market share, according to the organisation’s 2026 London Matters report. It is also the largest cyber insurance market in Europe, with more than 800 firms now providing cyber security products and services, around 30% more than in 2022.

Chris Lay, chair of the London Market Group, said: “London remains the global leader in risk transfer, demonstrated by its growth in absolute size and market share. Yet we cannot be complacent as, whilst much smaller than London, some other jurisdictions have grown faster in recent years.

“To reinforce our position, the London Market needs to focus on three core things: making our market an attractive place for new capital; targeting opportunities to cover new threats on the risk landscape, including AI, energy infrastructure and intangible assets, along with the continuing opportunity for growth in cyber; and, finally, investing in the quantity and quality of young talent to allow the industry to expand. Our data points to an alarming shortfall in this third area.”

The data also highlights opportunities from renewable energy and AI, alongside the need for new sources of capital. Since its launch in 2022, London Bridge 2 has grown by around 150% per annum to reach approximately US$1.9bn of deployed capital.

The London Market employs around 61,000 people, up from approximately 59,000 in 2022, with 67% based in London. By 2034, the workforce is expected to require 82,200 full time equivalent roles, while the average age is forecast to rise to 46.

Caroline Wagstaff, CEO of the London Market Group, commented: “The age profile of the London Market is estimated to shift significantly over the next ten years. This is most dramatic in the under 30s, whose share of the total workforce is predicted to fall from 24% to 7% in that period. Even as the debate continues around the potential for AI and other systemic shifts in the way we work and the skills we need, this potential imbalance in our market demographic should ring alarm bells.

“In order to continue to grow, we must have talented teams in place and fully trained, and that takes time. Graduate and entry level employment needs to increase to meet demand in the next decade, but this is not being reflected in current hiring. In fact, graduate job postings in insurance fell 18% YoY in September 2025. This is an industry-wide problem that needs industry-wide attention.”

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