They say no-one really remembers who comes in second, but for a moment let’s pretend that London isn’t the insurance capital of the UK. The Association of British Insurers (ABI) found out which region is next in line.
A report by
The Yorkshire Post said Yorkshire has been named as the most important region for the insurance industry outside of London with the sector worth as much as £2 billion a year.
“New independent analysis, commissioned by the Association of British Insurers, has shown the region to be second only to the capital for employment in the insurance industry, equating to some 24,000 jobs,” it said.
According to the report, the Leeds city region alone has 18,000 people employed in insurance and long-term savings, with the number of people working in the sector rising 19% in and around Leeds between 2009 and 2015. In and around Sheffield, the increase was 40%.
“Data showed that insurance firms operating in the Leeds and Sheffield city regions contributed almost £2 billion to the Yorkshire economy in 2015. Three quarters of insurance and long-term savings jobs are in towns and cities outside the capital,” noted the regional newspaper.
Meanwhile, ABI director general Huw Evans said, “The insurance and long-term savings industry is benefiting Yorkshire to the tune of tens of thousands of jobs and millions of pounds of investment. It’s also clear that Yorkshire is of enormous value to firms, offering an excellent mix of location, infrastructure, and talented workforce to help insurance businesses thrive.”
Covea Insurance and
Hiscox were cited as key examples in Yorkshire.
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