November 15, 2016
Banks based in Britain may start to relocate activities to other countries about 1-1/2 years before a British departure from the European Union if a “hard Brexit” looks likely, Bank of England Governor Mark Carney said on Tuesday. If the …
September 1, 2016
The UK’s exit from the European Union, or “Brexit,” could lead to a loss of business for Lloyd’s of London unless the UK government is able to negotiate passporting arrangements to maintain access to the European Economic Area (EEA)*, according …
August 30, 2016
Ireland says the Brexit vote has led to a jump in inquiries from London firms considering opening offices in Dublin, one of a handful of European cities trying to draw business away from Britain’s financial center. Irish officials say they …
July 22, 2016
Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …
July 20, 2016
A lawsuit seeking to force Prime Minister Theresa May to consult parliament before beginning Britain’s exit from the European Union will be taken “very seriously” and may reach the Supreme Court by December, Judge Brian Leveson said. “The court takes …
July 12, 2016
Britain’s next Prime Minister Theresa May must find ways to protect London’s financial sector as the country negotiates its exit from the European Union, senior lawmaker Stephen Hammond said on Monday. May is set to succeed David Cameron as leader, …
July 8, 2016
The run on British property funds has drawn attention to the vulnerability of the commercial real estate sector, largely funded by domestic banks and building societies but increasingly by foreign banks and insurers. UK banks and building societies had around …
July 1, 2016
Four leaders of Bermuda market groups quickly issued statements last week to allay any fears that the fallout from the UK’s Brexit vote would hit their market as well. “In a global economy, Bermuda is affected, like other nations, by …
July 1, 2016
Brexit has created great uncertainty for the UK, the European Union and perhaps the world. Pretty much everyone agrees on that. But there is less agreement about how an EU exit will affect London’s financial center. Some are very gloomy …
July 1, 2016
Record low gilt yields following Britain’s vote to leave the European Union are deepening UK pension deficits, worsening a headache for domestic companies which may be called upon to help fill the gap. Several years of ultra-low British interest rates …