1. Innovative 2. Reach of 3. Regulatory 4. Access to 5. Resilient business Our global offer to business: ecosystem 昀椀nancial activity environment talent and skills infrastructure London and the UK’s competitive 11 strengths supporting economic growth The UK is the world’s largest net Foreign investment in UK FPS exporter of 昀椀nancial services. reached £2.1bn in 2022 and created 15,000 jobs. Net FS exports reached a record £72bn in 2022, ensuring the UK’s The UK is a top destination for FPS place as the largest net exporter of FDI with a 68% increase in capital FS in the world. The US comes in invested compared to 2021, and second with £59bn of net exports 39% more projects. In the past 昀椀ve in 2022. However, these decreased years, London has been the world’s by 2% year-on-year, as exports fell number one destination for 昀椀nancial by 3% and imports fell by 4%. The services FDI with 779 projects. The US saw net FS exports fall by 13% United States is the largest investor in 2022 as exports fell by 2% and for FS FDI in the UK and investment imports increased by 7%. The UK managers made up a third of FS FDI is a bene昀椀ciary of this trend as UK projects in 2022. FS exports to the US increased by Source 4%. The US continues to be largest market for UK FS exports, accounting fDi Markets 2023 for a 34% share. The UK is the world’s leading Source international asset management hub with £4.2tn managed for UNCTAD 2023 overseas clients. The UK is the second largest asset management centre in the world and the largest in Europe with 13% of global AUM. Globally, AUM dropped 10% in 2022 to £79.5tn. This was Victoria Square In Birmingham City Centre due to negative net sales and fund performance, driven by the changing 0.1% points to 5.4%. The London London is a global insurance hub. macroeconomic landscape. US and Market for specialist insurance is The London Market is the largest European fund AUM fell 13% in this world leading, however. It covers 42% specialist insurance market, and period, whereas UK AUM fell 11%, of global marine, aviation and energy the UK is the third largest insurance from £11.6tn to £10.3tn. This is insurance, and is the market leader in market in the world. the 昀椀rst annual decline in UK AUM direct insurance premiums. Solvency since 2008. The US ranks top in the insurance II reforms will make London’s insurers world with 43.7% market share and more competitive as £100bn of Source over £2.5tn of premium volume in capital is released over the next Investment Association 2023, BCG 2023 2022, driven in part by the size of the ten years. domestic market. The UK is the third Source £72bn £305bn £2bn largest market, by total premium volume (£305bn in 2022). Insurance of net FS exports in the UK of insurance premiums written of FPS FDI into the UK SwissRe Institute 2023, London Market Group 2022 premiums in the UK fell by 2.8% in in 2022 in London in 2022 in 2022 in 2022, and market share dropped