Exporting cyber security services to the world The UK is the third largest exporter of cyber security services globally. UK cyber security exports have grown from £5 billion in 2021 to £6.2 billion in 2022 (an increase of 21.8%). The future of cyber insurance In 2022, London accounted for $4.5bn of global cyber insurance Gross Written Premiums (GWP), representing 39% growth since 2020. Discover the ambition for London to become the pre-eminent global hub for cyber insurance, the benefits this will have for the broader UK, and how the London cyber security ecosystem and insurance industry can collaborate to achieve this. Read the full report A growing sector The UK cyber security market grew 13% in 2023, reaching £11.9bn in revenue A growing sector Established community There are more than 1,000 cyber security firms' offices in London alone. Established community Access to finance £400 million has been raised across 85 deals in dedicated cyber security firms in 2023 Access to finance There are more than 2,000 cyber security companies in the UK The market value of the UK's cyber security industry is the highest in Europe The UK employed more than 60,000 people in the cyber security sector in 2023. This represents growth of 5% since 2022 Partner story Risk Ledger: making supply chains more transparent and resilient Risk Ledger: making supply chains more transparent and resilient partner story LORCA: 'The UK has always had, and will always have, a global mindset.' LORCA: 'The UK has always had, and will always have, a global mindset.' see more case studies "The pool of skilled staff in technology, marketing, sales and operations that we can access here in London is unrivalled anywhere else." Andrew Bud, Chief Executive and Founder iProov "The Financial Conduct Authority is considered by international regulators as one of the most progressive and supportive bodies approaching innovation. They are very happy to work with and talk to emerging technology businesses in the finance sector." Asif Faruque, Head of Content Level39 1 2 Need more information? The City of London Corporation London & Partners Great Campaign TheCityUK Innovate Finance Association for Foreign Banks Association of British Insurers The Investment Association AFME UK Finance