It has been a very busy week for the UK Insurance market.

In Manchester, the annual conference of the British Insurance Brokers’ Association (Biba) was staged with over 10,000 brokers and insurers in attendance.

The Corporation of London also held the first London Risk Week – a strange decision to put it directly against Europe’s biggest insurance event, leaving the trade media and delegates torn  between the two.

In Manchester much of the discussion centred around cyber risks, and with it the opportunity it offered the industry to fill in a significant protection gap. The view is that businesses need to wise up to the threats they face as the rapid implementation of new technology and artificial intelligence continued to gather speed.

The highlight of London Risk Week was the Global risk Summit which saw industry and government leaders discuss the major threats of the day.

Unsurprisingly cyber and AI risks were on the agenda and delegates were told the industry will need to support the rise in technology and the benefits it can bring by mitigating the risks.

Pravina Ladva, Group Chief Digital & Technology Officer at Swiss Re explained: “As AI shifts from experimentation to execution, it is becoming a powerful enabler of the high-value knowledge work that defines the London Market.

“The opportunity is clear: improving decision-making, increasing productivity, and delivering better, more consistent outcomes for clients. At the same time, this is not about adopting AI at any cost. Success depends on a disciplined approach – grounded in strong data quality, robust governance, and a clear view on where AI can truly improve outcomes, while keeping humans firmly in the loop. The London Market is strongly positioned to seize this opportunity, combining deep risk expertise and world-class talent with a long-standing culture of innovation.”

In London geopolitical risks were also front and centre. The growing impact of conflicts across the world and its impact in the global economy and supply chains is impacting every area of the specialty insurance market. Coupled with the concerns over the sheer scale of exposures to natural catastrophes , London Risk week arrived at what prove to be an inflection point for the (re)insurance sector, and its efforts to remain relevant of major clients at a time of a dynamically evolving risk environment.

Nina Arquint, Swiss Re’s CEO UK & Ireland, Corporate Solutions summed it up succinctly.

“Between extreme weather events, AI-related risks, supply chain disruption and other emerging risks, businesses need solutions that do more than just respond after a loss,” she explained. “The London Market plays a crucial role in helping to strengthen the global economy in these volatile times and, in the commercial insurance space, clients are demanding differentiated offerings that meet their evolving needs. This is why alternative risk transfer solutions such as captives and parametrics are expected to become an increasingly important part of the risk management toolkit. Used well, they can help companies approach risk more strategically, strengthen data-led decision-making and build flexibility across cycles, complementing traditional insurance with bespoke structures that support long-term resilience.”

Jon Guy, Editor,

Emerging Risks