Britain’s financial industry slammed U.K. Prime Minister Theresa May’s latest proposal for Brexit, with some calling it the worst outcome possible. In some of their most forthright comments since the referendum vote in 2016, industry executives said Thursday that her …
Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. Financial firms have been using Big …
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 governor Sam Woods said. …
The Bank of England will not “go soft” on enforcing European Union capital rules for insurers, but will look at ways to make it easier for new entrants to boost competition in the industry, its deputy governor Sam Woods said …
As far as Brexit headaches go, Barclays Plc’s John McFarlane says that while his bank is on top of job relocations, he’s more concerned about rewriting “hundreds of thousands” of contracts. He’s not alone. Andrew Bailey, head of the U.K. …
Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could take a different approach to assessing risk which …
Global regulators have given themselves more time to bridge transatlantic differences that have delayed the world’s first capital rule for insurers, raising a cheer in the sector. The International Association of Insurance Supervisors (IAIS) said its members have agreed in …
The bill for compensating families of those who died in the Grenfell Tower fire in London may be as low as 4 million pounds ($5 million), according to several lawyers and a Reuters analysis of how damages laws apply in …
Britain plans to alter the rate used to calculate upfront personal injury payments, the Ministry of Justice said on Thursday, a move which will reduce those payments and insurance premiums. Motor insurers’ profits were dented and insurance premiums have risen …
Insurers in Britain face crunchtime within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit. While Britain is not due to leave the bloc until March 2019, …
