In terms of numbers employed, insurance is the second largest activity in the City. According to the data supplied by the City Corporation, there were 49,822 people employed in insurance offices in the City in 1965-6. This excludes the labour force of two very large insurance companies on the borders of the City. It is not known how many people are employed in the insurance industry in the U.K. as a whole. The British Insurance Association (B.LA.) estimate that its member companies employed 184,000 in 1966.1 To this figure must be added the pay roll of a large number of insurance brokers and agents, as well as Lloyd's underwriters. Since many of these brokers and agents are part-time workers and based outside London, it may be fair to assume that the majority of specialist firms are located in the City or the West End. Our very tentative estimate is that between 220,000 and 250,000 people were employed in the U.K. insurance industry in 1966.