Context
New data released by the IUA has shown that Treaty reinsurance written in the London company market grew by more than 10% last year. The sector recorded total premiums written in London of £11.985bn in 2024, up from £10.889bn the previous year.
Key points to note and next actions
- Treaty premiums now represent 27% of the market total, compared to a 25% share in 2023. This is the highest proportion for treaties recorded since the IUA began publishing company market statistics in 2010.
- This year’s London Company Market Statistics Report is due to be published later this month, analysing all premium income for IUA members by placement type, class of business and geographical origin. An advance preview of reinsurance data has been issued, though.
- The figures show that the rise in treaty business offset a slight fall in direct and facultative contracts written by companies in London. The latter totalled £31.789bn in 2024, dropping by 1% from £32.106bn the year before.