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 …
Zurich Insurance Group AG plans to slash about 240 jobs in the UK as part of broader efforts to bring its Life and General Insurance division under a single leadership team. Zurich disclosed the new UK structure on Jan. 19, …
Chubb Global Markets, the London-based wholesale insurance division of Chubb, announced the appointment of Lee Clarke as senior casualty underwriter. In his new role, Clarke will be primarily responsible for the management and profitable growth of Chubb Global Market’s casualty …
PwC has appointed Jim Bichard to lead its 1,000-person strong UK insurance practice. Bichard succeeds Jonathan Howe, who has led the practice since 2013. Bichard, who has led PwC’s London Market and Broking team since April 2013, has been with …
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 …
Marsh, the wholly owned subsidiary of Marsh & McLennan Cos., said it has completed the previously announced acquisition of Bluefin Insurance Group Ltd., a subsidiary of AXA UK plc, from AXA Group. Founded in 2008, Bluefin has approximately 1,500 colleagues …
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 …
M&A and Brexit will be major factors for the global re/insurance industry over the coming year, according to predictions from the insurance team at the international law firm Clyde & Co. Andrew Holderness, a partner in Clyde & Co.’s London …
South Africa’s Rand Merchant Investment Holdings ramped up its presence in the British insurance market on Wednesday with the purchase of a 30 percent stake in Hastings, driving the UK firm’s shares to 2-1/2 month highs. Hastings, which listed just …
The U.K. government promised to make sure London keeps its place as the leading financial center after Brexit, following top-level talks between global bank chiefs and senior ministers. U.K. Chancellor of the Exchequer Philip Hammond and Brexit Secretary David Davis …
