Questions are increasingly being asked of the attractiveness of London as a destination for corporates to list publicly, after several UK-listed companies announced plans to list across the Atlantic. Building material group CRH is the latest to eschew the capital, following the decision of semiconductor designer Arm, the proverbial jewel in the UK’s technology crown, and gambling conglomerate Flutter Entertainment to plan listings on the New York’s capital rich stock exchange.

The recent flurry of exits have in part be attributed to the decline in liquidity and investment rendered by UK insurers and pension schemes over the past couple of decades. In 2000, 42% of LSE shares were held by these institutions – now this number sits at 6%. Casting an eye beyond our shores, it is clear that this a lag behind the international trend, as 7% of UK pension funds are directed towards infrastructure and young startup companies compared to the 19% global average.

There is a sense of urgency among the City to reverse this direction, with murmurs coming from the top insurers to rally together and form a £50bn private sector national wealth fund to invest in British business – high-tech startups, green technologies, fast-growing companies and the anchoring of our top firms. It will also require regulatory change.

The wealth fund would echo the social-purpose mantra of insurers, targeting businesses with demonstrable social initiatives – creating a new asset class of purposeful companies. If successful the LSE should be revived with a population of new, innovative businesses that should freshen up a stock market inundated with legacy companies and business models. However, this will require careful consideration if the £2tn plus of insurer assets are to be leveraged effectively.