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. …
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 to a report on …
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 seamlessly after the U.K. exits the European Union. It has …
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 services. May said her vision for future ties to the …
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 Britain’s move to leave the European Union. The …
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 the Irish …
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 …
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 to establish …
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 …
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, diplomats said. Speaking after EU …
