Project leader: Lilach Nachum
(See also Project Page for further details).
The research focused on the
financial services sector in the City of London and covered wholesale
insurance and reinsurance firms.
The sustainability of
London’s position as a world centre for insurance services cannot be
taken for granted. There is an important role for the public
authorities governing the operation of the London market in improving
local conditions, as these appear to be critical in affecting the
location choices of London firms.
- The London market is overwhelmingly ‘local’
in terms of its reliance on labour and service suppliers. The intensity
of these local linkages is related to size of firms, weakening as firms
grow.
- There is evidence to a certain degree that
developments in global financial centers elsewhere are more influential
on the fate of London firms, and the London market as a whole, than
those in the rest of the UK economy.
The study showed that
London’s competitive position in wholesale insurance is based almost
entirely on foreign ownership.
Dates of survey: January to June 2001
Number of responses: The dataset consists
of replies from 131 respondents.
Publications
Dataset: The
London Insurance Market, 1999-2000 (SN4822)
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