The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating actions as a result of …
Lloyd’s of London will make an announcement on its new European subsidiary by the middle of April at the latest, its Chairman John Nelson said on Tuesday, as it prepares for Britain’s exit from the European Union. The world’s largest …
Britain will leave the EU’s single market when it exits the European Union, Prime Minister Theresa May said on Tuesday, putting an end to speculation that London might try to seek a “soft Brexit.” In a long-awaited speech in which …
Britain’s finance industry has reluctantly given up on efforts to keep full access to the European Union after Brexit and is pushing instead for a more limited trade deal that would potentially exclude some financial products. Banks, insurers and asset …
Britain’s financial services sector must keep its unfettered access to the European Union’s single market after Brexit given that available alternatives don’t provide a sustainable long-term solution, an industry report said on Tuesday. British Prime Minister Theresa May is due …
Up to 10 percent of jobs in London’s financial district may be lost if Britain fails to secure adequate access to European Union markets after Brexit, a City of London official said on Wednesday. Bankers first called for full access …
A growing number of global insurers are considering moving to Ireland and some may choose to locate European headquarters there rather than Britain following that country’s vote to leave the European Union, Ireland’s central bank said on Thursday. Ireland is …
U.S. insurer AIG may move its European headquarters from London to another European Union country because of Britain’s vote to leave the EU, the head of the AIG’s European and UK operations said at an industry conference on Tuesday. AIG …
Rather than replacing Solvency II entirely when the UK leaves the European Union, regulators need to refine EU’s insurance regulation to make it more appropriate for the UK market and customers, according to the Association of British Insurers (ABI). Following …
Lloyd’s announced that Paolo Vagnone has been appointed to the newly created role of Strategy & Change director. Vagnone will lead the teams responsible for the development of Lloyd’s strategy as well as the management of major change projects. He …
