Opportunities for UK Companies in Connecticut

The United Kingdom and Connecticut have strong ties that go back centuries to the original Thirteen Colonies of the United States. Since it’s settlement by English colonists nearly 400 years ago, Connecticut and England have been intertwined economically and culturally and continue to strengthen these bonds through the present. The United Kingdom plays an outsized role in Connecticut’s economy, accounting for more than 17% of all foreign direct investment in the state – the #1 source of foreign direct investment in Connecticut1. The UK also is the #1 source of foreign employment in Connecticut2, with more than 21,100 Connecticut jobs employed by the subsidiary or a UK company3. Most of these investments in Connecticut are focused in the state’s thriving insurance, financial services, and life sciences sectors.

Connecticut’s economic bonds with the United Kingdom flow both ways over the Atlantic. The UK throughout most of history has been one of Connecticut’s largest trade and export markets, currently occupying the 4th largest export destination spot4. More than $2.2 billion in goods and services were exported from Connecticut to the United Kingdom5,6. These exports support more than 12,230 Connecticut jobs7 with that number expected to continue increasing in the future as exports of goods and services from Connecticut to the UK experienced a 48% growth from 2010 to 20198. The greatest value of exports were in the aerospace products, financial services, and pharmaceuticals and medicines industries9. 
 

 

Notable UK Companies with Major Operations in Connecticut

 
 
 
 
 
 

 

 

 

UK–Connecticut InsurTech Corridor

Connecticut and the UK have long shared a commonality as leaders on the international stage in the insurance industry, with Connecticut’s capital of Hartford long known as “The Insurance Capital of the World,” and recently made these ties official, creating the UK–Connecticut InsurTech Corridor. The creation and expansion of insurtech firms has seen rapid growth in Connecticut as they explore the plethora of opportunities to partner with industry giants located in the state, such as Travelers, The Hartford, Aetna, Cigna, and more. Five UK-based tech firms established outposts in Hartford to take advantage of this insurance ecosystem and represent the first steps of the Corridor, which seeks to foster trans-Atlantic connections and accelerate business and job growth. The initiative was designed to help British insurers navigate their way through a web of state regulations and overcome challenges making contact with investors and other businesses. Lord Mayor of London Michael Mainelli, whose parents once lived in Hartford, visited the city for the InsurTech Corridor’s inauguration and to promote the unique international partnership.

Key Facts About Connecticut

  • #1 highest concentration of insurance jobs in the U.S.10
  • #1 & #2 most productive metropolitan areas in the U.S. for insurance workers – Hartford & Stamford11
  • #5 best tech talent pipeline12
  • 16% of all U.S. tech traded cluster GRP is within 120 miles of Hartford13
  • #2 for academic bioscience research & development expenditures per capita14
  • #3 in bioscience patents per capita15
  • #9 in the nation for life sciences growth – New Haven16
  • #10 in the U.S. for venture capital deals per capita17

 

The large amount of interest in both business and leisure travel between Europe and Connecticut spurred the creation of an Aer Lingus direct flight between Dublin Airport and Bradley International Airport outside of Hartford. This route has proven extremely popular with travelers from both destinations as well as those seeking to travel beyond into Europe and has spurred talks for a direct flight to London Heathrow Airport – a top priority for Bradley officials, who are currently courting various airlines to fulfill this route, citing the outsized volume of business travel between the two locations as the driving motivator. Aer Lingus currently connects 13 UK cities to Connecticut and beyond, with direct flights from Bradley International to North American cities like Toronto, Los Angeles, Chicago, Washington, D.C., Dallas, Atlanta, and more.

 

1fDi Markets, U.S. Bureau of Economic Analysis, 2023; 2Global Business Alliance, 2023; 3The Trade Partnership, 2021; 4U.S. Census Bureau, Office of Trade & Economic Analysis, Industry & Analysis, International Trade Administration of U.S. Department of Commerce, 2024; 5U.S. Census Bureau, Office of Trade & Economic Analysis, Industry & Analysis, International Trade Administration of U.S. Department of Commerce, 2024; 6The Trade Partnership, 2021; 7The Trade Partnership, 2021; 8The Trade Partnership, 2021; 9The Trade Partnership, 2021; 10Lighcast, 2022; 11GRP per worker, Lightcast, 2022; 12Business Facilities, 2023; 13Lightcast, 2022; 14TEConomy/BIO, 2022; 15TEConomy/BIO, 2022; 16Business Facilities, 2023; 17Pitchbook, 2023, U.S. Census Bureau 2022 Population Estimate, AdvanceCT calculations