The City of London Corporation has announced its inaugural Global Risk Summit, set to take place in London on May 21, 2025. The event aims to highlight the strengths of the UK’s insurance sector, with a focus on innovation, expertise, and talent within the London Market.
According to a news release, the summit will serve as the cornerstone of a weeklong series of in-person events across London, engaging industry leaders, risk owners, and other stakeholders to discuss and devise solutions for pressing global risks, such as artificial intelligence (AI), geopolitical tensions, and sustainability challenges, among others.
“As cutting-edge technology advances and global conflicts persist, the risks of AI, cyber security, geopolitics, sustainability and supply chain issues, will be considered in greater depth in terms of innovative solutions and opportunities. The Summit will assess the central role of the London Market and wider industry in addressing existing and emerging risks that businesses are facing worldwide,” the news release noted.
The initiative is backed by over 20 partners from across the risk value chain, including insurers, reinsurers, brokers, trade associations, advisers, and tech enablers.
Chris Hayward, policy chairman of the City of London Corporation, emphasised the economic impact of the London Market. “The London Market contributes nearly £50 billion to the UK economy, or 2% of total GDP, with almost three quarters of its income coming from overseas. To propel the Government’s mission to increase economic growth, the UK’s risk management expertise must be championed,” said Hayward. “Competition between global financial services hubs increases year by year and the City Corporation is committed to ensuring London maintains its leading position.”
Lord Mayor of London, Alastair King, echoed the sentiment, stressing the importance of innovation in risk management: “The Square Mile is home to the largest commercial and speciality risk market in the world, supporting clients globally. As countries balance the white heat of AI and wider technological advancement, it is mission critical that the UK leverages its expertise in risk management to reinforce Britain’s position at the vanguard of global insurance and reinsurance.”
Councillor Jason Groves, chair of the City of London Corporation Insurance Steering Board, highlighted the summit’s purpose. “The Global Risk Summit seeks to reinforce London's position as the premier global risk centre,” he noted. “At a time where risks are more interconnected than ever, the summit will bring together leaders across the industry to demonstrate the innovative and unique solutions being delivered by the London Market. Risk Week will be an opportunity for the sector to showcase how London is addressing this wide range of risks to a global audience.”
The Global Risk Summit will be an invitation-only event. Interested parties can learn more and register their interest by visiting the City of London Corporation’s website.
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