The European Union will consider offering the U.K. “improved equivalence” for financial services after Brexit, according to the bloc’s latest negotiating guidelines, a system Britain has rejected as “wholly inadequate.” The addition to the draft guidelines, obtained by Bloomberg, makes …
Markel International, the London-based specialist insurance subsidiary of Markel Corp., will cease to write London open market property business with immediate effect. The development has no impact or implications for Markel Corp.’s U.S. and Bermuda property businesses which, for reasons …
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 steps down. …
Munich Re, the world’s largest reinsurer, is in talks to acquire a plot that has approval for one of the tallest towers in the City of London financial district, people with knowledge of the plan said. The insurer is negotiating …
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 will be no …
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 on Friday. London is …
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 Wuermeling said on Thursday. Speaking in …
The London market has launched a simplified system for claims handling in an effort to improve client service and streamline claims agreement across the London market. The Single Claims Agreement is designed “to enable quick and efficient authorization of claims …
Bermuda-based Sompo International announced that Paul Ashworth has joined the company’s London Market Insurance platform as head of Marine Insurance, managing a diverse portfolio, including hull & liability and cargo & specie marine classes. Ashworth has built and managed marine …
The London market’s electronic placing platform was used to close the Aon Client Treaty facility for 2018, marking a milestone in the platform’s evolution. This is probably the largest and most complex transaction in the Lloyd’s market, said the board …
