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London Market

The London Market is a distinct, separate part of the U.K. insurance and reinsurance industry centered in the City of London.

Its main participants are insurance and reinsurance companies, Lloyd's of London syndicates, Marine Protection and Indemnity Clubs (P&I Clubs), and brokers who handle most of the business.

Nicked this from https://www.iii.org/publications/commercial-insurance/the-global-dimension/london-market Sure we can give a better explanation.

The London insurance market is unique

  • It is the birthplace of large-scale commercial insurance
  • A truly global insurance market
  • The largest global hub for commercial and speciality risk
  • An unrivalled ecosystem of capital providers, underwriters, brokers and service providers

*Key statistics

* Key statistics created by London Makes it Possible.

US Tax Reform

Currently under the US Tax Code, property-casualty insurance companies are permitted to deduct “premiums paid for reinsurance” in calculating their underwriting income. Read more.

OECD BEPS and Digital Taxation

In response to growing public concern around the tax affairs of international groups, the Organisation for Economic Co-operation and Development (OECD) launched a report in February 2013 titled Addressing Base Erosion and Profit ShiftingRead more.

Tax and Brexit

The decision of the UK to leave the EU is likely to have implications for taxation, but it is too early to predict exactly what these will be. Read more.

International Regulatory Developments

Following the global banking crisis, the G-20 and the Financial Stability Board (FSB) have been striving to improve the resilience of the financial sector. Read more.

Solvency II

Solvency II is an EU Directive that introduces a harmonised EU-wide prudential regulatory regime for insurers. Read more.

Cyber insurance

Within developed countries, the use of digital technology in everyday economic activity is ubiquitous. Firms overwhelmingly rely on digital infrastructure for their everyday operations within virtually all sectors of the economy. Read more.