Advent Risk Management, Coverys and Munich Re Specialty are the latest three firms to join the International Underwriting Association, bringing the IUA’s representation to a total of 81 firms. Apex Insurance Company of Uzbekistan has also joined as an associate member.

According to research published by the association, the company market in London earned aggregate premiums of £44bn in 2022, representing an increase of approximately 25% on the previous 12 months (2021: £36bn) and 100% growth in the past decade (2014: £22bn).

Dave Matcham (pictured), chief executive of the IUA, said: “The London company market continues to go from strength to strength and our members are at the forefront of industry responses to emerging risks. Company insurers are, for example, providing more and more cyber coverage and are supporting sustainability projects with protection for green projects across their lifecycle.

“We have seen new firms established in London and a particular growth in the managing general agency business model. Companies are also increasingly keen to benefit from the services we provide as an industry association. More than 1,300 individuals now regularly participate in the dozens of market groups that we run.

“With our members support we look forward to continuing our work to secure an optimal trading environment for London insurance companies.”

The news comes as the association is celebrating its 25th anniversary. It began operations in 1999 following the merger of the London International Insurance and Reinsurance Market Association and the Institute of London Underwriters.

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