UK market News

London Is Falling Down — Because of Climate Change

Britain’s increasingly extreme weather is shaking the very foundations of its centuries-old history. The nation has been experiencing prolonged periods of drought after wet winters since last year. That’s causing the porous rock beneath vast parts of southeast of England, …

Insurer Capital Rule Changes in UK to Start by End of 2023, Finance Ministry Says

Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to “Solvency II” capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be implemented by the end of this year. …

UK Autonomous Vehicle Dreams Could Break Down at Starting Line Without Rules

Britain could lose out on investments in autonomous vehicles (AVs) and see startups shift testing elsewhere if promised laws to regulate the technology are not passed before the next general election, startups and insurance companies said. Despite the government’s vision …

UK Widens Lead as Europe’s Top Draw for Financial Services Investors

For all the gloom around the impact of Brexit on the City of London, the latest survey of Europe’s top destinations for foreign direct investment in financial services is a reminder of the UK’s continuing heft in the sector. Britain …

Insurer Aviva Says UK Demand for Private Health Jumped Amid NHS Strikes

UK insurer Aviva Plc said demand for private health care continued to surge as more individuals and companies look for alternatives to the National Health Service. Private health insurance sales grew 25% in the first quarter, the UK based insurer …

UK Watchdog Aims to Improve Whistleblower Procedures After Backlash

Britain’s markets watchdog is aiming to improve its procedures for finance workers who report on suspected wrongdoing after finding that some whistleblowers didn’t feel listened to enough and perceived the regulator as reluctant. The Financial Conduct Authority now seeks to …

UK to Ban Cold Calls Selling Insurance and Crypto to Clamp Down on Fraud

The UK is to set to ban cold calls that sell financial products including insurance and cryptocurrencies in an effort to crack down on fraud, which costs the country around £7 billion ($8.7 billion) a year. Announcing its new fraud …

Mental Ill Health Drives Britain’s Crisis of Worker Sickness: Research

Mental ill-health is now the main cause of sickness absence from work in the UK, costing employers billions of pounds and holding back efforts to boost productivity, according to new research. In the final quarter of 2022, more than 85 …

Fire Fears After UK’s Grenfell Disaster Set Back Wood Building, With Insurance as Factor

To get fire department approval for their six-story London office project made of strong engineered wood known as mass timber, Theo Michell and Richard Walker had to build a full-scale section of it in the UK, ship it to Poland …

Private Health Care Booms in Britain as State-Run Health Service Buckles

British patients are turning to private health care as the National Health Service struggles with mass strikes, long waiting lists and budget constraints. Insurance company Vitality Health Ltd. said its policies cover nearly a million people in the UK, compared …