London Market premiums fall 15% in 2004
Gross premiums on the London Market fell 15% in 2004 to £21.7bn according to UK industry trade body IFSL. This follows five consecutive years of growth during which premiums increased by more than 80%. In 2004 Lloyd’s generated 54% of known London Market gross premiums with the company market generating 44% and P&I Clubs the remainder. London is a leading centre for international insurance and reinsurance, particularly for marine and aviation business.
The UK insurance market was the largest in Europe and third largest in the world in 2004 with premium income totalling over £150bn. This was down 3.4% on the previous year and 16.5% below recordOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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