British invasion

Foreign insurance companies are becoming the dominant players in the UK insurance market, according to a report issued by the Assn. of British Insurers, the Institute of London Underwriters and the London Insurance and Reinsurance Market Assn. The report revealed that insurance firms with foreign backers account for 28% of all insurance coverage written in the market. It also disclosed that 227 of insurance firms authorized to operate in the new general insurance market are foreign or foreign-owned.