Latest Uk Headlines
All the headlines from our Uk Topic Page, ordered by recency.
XL Catlin Introduces Brexit Continuity Clause to Address Risk of Loss of EU Passporting
Mar 19 2018 // XL Catlin’s London-based insurance operation has introduced a Brexit contract continuity clause. The clause addresses the risk that contracts written by XL’s London-based entities prior to Brexit may become...
Luxembourg Aims to Attract More Insurers Seeking Post-Brexit Headquarters
Mar 16 2018 // Luxembourg is seeking to persuade at least two additional global insurers to make their post-Brexit home there after attracting American International Group Inc. and Sompo International Holdings Ltd., the head of its...
London’s Future as Financial Center Uncertain Due to Brexit: UK Regulator
Mar 15 2018 // London’s future as a global financial center is uncertain because of Brexit and Britain faces a tough task to secure European Union market access for its banks and insurers, a top UK regulator said on Wednesday as he...
Hard Brexit Would Cost UK, EU Firms $80B with UK Financial Services Worst Hit: Report
Mar 12 2018 // Companies in Britain and the European Union face an extra 58 billion pounds ($80 billion) in annual costs if there is a no-deal Brexit, with Britain’s vast financial sector set to be the worst-hit industry, according...
UK/EU Financial Services Industry Could Deal with ‘Hard Brexit,’ Says Official
Mar 9 2018 // Financial businesses have realistic expectations about serving European Union customers after Britain leaves the bloc next year and could deal with a so-called hard Brexit, a top EU official said on Thursday. The EU was...
Here Are Some Post-Brexit Scenarios for UK Financial Services
Mar 8 2018 // A stand-off between Britain and the European Union over the future of London’s vast financial services industry is shaping up as one of the key Brexit battlegrounds of this year. The EU said on Wednesday that there...
Sompo International to Launch Specialty Operation in Spain; Executive Team Named
Mar 6 2018 // Sompo International announced it will launch a specialty insurance underwriting operation in Barcelona, Spain. Sompo currently has a London-based operation but must open EU-based headquarters in order to conduct business...
Some U.K. Professional Firms ‘Understate’ Gender Pay Gap as New Data Law Looms
Mar 6 2018 // U.K. politicians are demanding law and accounting firms revise figures on how male and female staff are remunerated amid criticism that their partnership structures let them understate the gender pay gap. British companies...
UK’s Prime Minister Defends Decision to Reject EU ‘Passporting’ for Insurers, Banks
Mar 5 2018 // Prime Minister Theresa May defended her decision to rule out so-called “passporting” rights for banks after Brexit, saying Britain could not become a “rule taker” when it came to financial...
20-Plus Insurers, Banks & Fund Firms Select Luxembourg as Post-Brexit HQs
Mar 1 2018 // More than 20 major international institutions chose to set up all or part of their activities in Luxembourg last year, the country’s financial development agency said on Thursday, linking the decisions to...
Update: UK Prime Minister Rejects EU Draft Brexit Deal as Unacceptable
Feb 28 2018 // The European Union presented the U.K. with a draft divorce deal that Theresa May said no British prime minister could ever accept. The pound fell. Brexit talks once again look to be stuck around the intractable issue of...
Avoiding Post-Brexit Chaos in Insurance Market Is Top Concern of Bank of England
Feb 27 2018 // Avoiding chaos in the insurance market due to Britain’s European Union exit is a top Bank of England priority and making sure cross-border contracts continue to pay out after Brexit is a major concern, its deputy...
UK Marine Insurer Steamship Mutual Chooses Netherlands for Post-Brexit HQ
Feb 22 2018 // British ship insurer Steamship Mutual plans to set up a new Dutch subsidiary to ensure continued access to trade in the European Union in case Britain loses single market access. “We are about to apply for a license...
UK Supports Post-Brexit Mutual Recognition System for London’s Financial Services
Feb 16 2018 // Britain’s government is ready to push for the kind of Brexit plan for financial services that the City of London has long favored, but which has already run into opposition in Brussels, two government officials said...
London Will Be Weakened as Financial Center After Brexit, Warns Bundesbank Exec
Feb 15 2018 // The U.K.’s exit from the European Union will be a watershed moment for the City of London and weaken its role as one of the world’s leading financial centers, Bundesbank Executive Board member Joachim...
UK Supermarket Group Tesco Faces Potential Equal Pay Claims of Up to $5.6B
Feb 7 2018 // Supermarket group Tesco is facing a potential bill of up to 4 billion pounds ($5.6 billion) in a record equal pay claim involving mainly women workers at its British stores, according to the law firm pursuing the case. If...
UK Businesses Issue ‘Urgent Appeal’ for More Clarity on Brexit Blueprint
Feb 7 2018 // UK Plc issued an “urgent appeal” to Prime Minister Theresa May to get off the fence on Brexit or risk serious damage to business. The British Chambers of Commerce warned in an open letter that there is...
Brexit Transitional Deal Needed by End of March, Says FCA’s Bailey
Feb 6 2018 // The head of the U.K. Financial Conduct Authority added urgency to Brexit negotiations by saying European governments must reach a transitional agreement for financial services by the end of March to avoid the risks...
EU Will Not Offer Post-Brexit Passporting for UK Insurers, Banks: Diplomats
Jan 31 2018 // European Union negotiators see no room for discussion with Britain on maintaining “passport” access to EU financial markets for its banks after Brexit, but they are willing to look at free trade in the sector,...
Leaked Analysis Paints Gloomy Post-Brexit Picture for UK: BuzzFeed Report
Jan 30 2018 // Britain’s economy will be worse off after Brexit whether it leaves the EU with a free trade deal, with single market access, or with no deal at all, according to a government analysis leaked to BuzzFeed News. The...
