November 22, 2022
Zurich Insurance Plc (ZIP), the Dublin-based wholly owned subsidiary of Zurich Insurance Group, plans to relocate to Germany as a result of the UK’s exit from the European Union. Since the Irish unit includes the insurer’s UK P&C business, Brexit …
April 9, 2021
AM Best is maintaining a negative market segment outlook on the United Kingdom non-life insurance segment, citing economic uncertainty as a key headwind for UK non-life insurers. In addition, COVID-19-related lockdown measures coincided with the country’s exit from the European …
November 20, 2020
Britain’s lawmakers launched an inquiry on Friday aimed at ensuring its financial services remain globally competitive after the country’s full departure from the European Union next month. “We’ll make a series of recommendations for how the government, public bodies and …
October 19, 2020
Britain should tweak financial rules after full Brexit to keep London’s financial hub competitive and deepen ties with growth markets in Asia, a think tank said in a study on Monday. Britain accounted for nearly a third of financial activity …
September 3, 2019
London’s outsized role in the global insurance industry is being whittled down by Brexit. As much as 61 billion pounds ($75 billion) of business is shifting to rival financial centers in the European Union as a consequence of Britain’s vote …
January 17, 2019
Dismay, confusion, relief — and hope. The City of London had a range of reactions to the U.K. Parliament’s overwhelming rejection Tuesday night of Prime Minister Theresa May’s blueprint for quitting the European Union, and her sprint to cobble together …
June 6, 2018
Insurer RSA Group has received licence approval for its new insurance subsidiary in Luxembourg from the r Commissariat aux Assurances (CAA). RSA Luxembourg is being established in preparation for the United Kingdom’s exit from the European Union to ensure there …
May 2, 2018
The European Central Bank and the Bank of England have been drafted in to study the threats that Brexit poses to financial services. Just don’t expect this “technical working group” to save the day. Brexit’s potential to disrupt trillions of …
March 21, 2018
Lloyd’s of London Chief Executive Officer Inga Beale said insurance contracts across Europe will remain at risk unless there’s an agreement on how they should be treated in post-Brexit Europe. “Regulators across Europe can actually come to an agreement themselves …
February 15, 2017
Lloyd’s of London Chief Executive Officer Inga Beale said Donald Trump’s presidency and the U.K.’s planned exit from the European Union are creating opportunities to sell insurance guarding commercial clients against disruptions in global commerce. “I wouldn’t be surprised if …