The first global standard for investors to compare how much capital insurers from different countries hold to keep policies safe is caught in a transatlantic tussle, casting doubt on whether it is practical, industry and regulatory officials say. Global banks …
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 …
The UK joined the European Union in January 1973, and yesterday, the UK public voted to leave. After 43 years of marriage, the divorce proceedings will soon begin. No one knows how long it will take for the UK to …
A new U.K. law, designed to make it harder for insurers to dispute commercial insurance claims, could lead to more intense price competition and slimmer margins for the sector, according to Fitch Ratings. The Insurance Act, due to take effect …
Flood damage in Britain from winter storms has resulted in claims for more than 15,000 homes and businesses and is likely to lead to pay-outs of 1.3 billion pounds ($1.9 billion), the Association of British Insurers estimates. Three winter storms …
Britain’s finance minister George Osborne said on Wednesday he would raise the tax on motor and home insurance premiums by 0.5 percentage points to 10 percent to fund flood defenses, boosting insurance shares as the rise was smaller than anticipated. …
Sian Fisher has been appointed CEO of the London-based Chartered Insurance Institute (CII)*. She succeeds Dr. Sandy Scott, who announced his retirement in March last year. Fisher will take up her new post on Feb. 1 Fisher has a large …
Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said Britain had faced an …
Insurers are facing some of the costliest British floods on record as large parts of northern England, already inundated, brace for more heavy rain. Accountants estimate that insurers are currently facing a bill of up to 1.5 billion pounds ($2.22 …
British insurers could have to pay out up to £250 million ($377 million) in claims to owners of homes and businesses, industry specialists said on Monday, after the northwest of England suffered once-in-a-century floods for the second time in 10 …
