Specialist insurance broker JLT Specialty has named the world’s top 500 artists under the age of 40 in its inaugural NextGen Artists Global Report 2018.

The report, produced in collaboration with art market research firm ArtTactic, identified world-class artists from a range of disciplines and work across different mediums, by aggregating data about their individual careers, education, gallery representation, auction activity, and social media.

The report also includes a thorough analysis of the factors influencing the career paths of next-generation artists.

“In the last fifteen years, we have seen extraordinary growth in the market for contemporary art, and this is an exciting time for those involved in the arts industry — whether they are artists, collectors, or investors,” said David Gordon, CEO of JLT Specialty’s fine art division. “This collaborative project results from our shared passion and curiosity to gain insight into the factors that can impact an artist’s career progression today. Helping to understand the major contributing factors to an artist’s success has enabled us to identify the next generation of artists that we believe will make the most significant impact to the art world in the future and identify the rising stars of the future for collectors and auction houses.”

The report also revealed that the US and Europe continue to dominate the global art market, with nearly a quarter of artists living in New York, 12% residing in Berlin, followed by 9.4% in Los Angeles.