Brexit News

Bank of England Seeks Brexit Deal to Cover Derivative, Insurance Contracts

The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s Financial Policy Committee said on Monday that after …

Brexit Could Be Reversed if Economic Pain Sways Public Opinion: Former Minister

Brexit could be reversed if economic pain prompts a change in public opinion that brings a new generation of political leaders to power in Britain, former Conservative minister Michael Heseltine said. Heseltine, who helped topple Margaret Thatcher in 1990 but …

UK Insurers Face Looming Brexit Deadline to Move Contracts with EU Clients

Insurers in Britain face crunchtime within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit. While Britain is not due to leave the bloc until March 2019, …

UK Economy Begins to Feel Brexit Pinch – or Perhaps Brexit Punch

Britain’s economy is beginning to feel the Brexit pinch, or perhaps given the strong performance of the rest of the world economy, it should be punch. After a prolonged period of relatively benign economic numbers following last year’s vote to …

UK Financial Services Sector Seeking ‘Ambitious’ Brexit Trade Agreement

The UK’s financial sector is seeking an “ambitious” trade pact between Britain and the European Union to try to prevent a costly shift of jobs and business to the continent once the country leaves the bloc, according to a draft …

UK-EU Post-Brexit Trade Deal ‘Desirable but Not Essential’: Report

A UK trade deal with the European Union after Brexit is desirable but not essential, the Institute of Economic Affairs said, in support of Prime Minister Theresa May’s repeated assertion that no deal is better than a bad deal. Britain …

UK Seeks Interim Post-Brexit Transitional Deal with EU

Britain has said it wants an interim customs agreement with the European Union after Brexit to allow the freest possible trade of goods, but that it will also seek the right to negotiate other trade deals — a possible sticking …

UK’s Dithering Over Transitional Brexit Deal Must Stop: Opinion

The Brexit deadline of March 2019 creeps ever closer, and exit talks are under way — but Britain’s government still doesn’t know what it wants. This failure to set a clear goal, much less devise a strategy for achieving it, …

Global Insurance M&A in H1 Drops to Lowest Point in 2 Years: Clyde & Co.

The volume of completed mergers and acquisitions (M&A) in the global insurance industry continued dropping during the first six months of 2017 to 170 deals, compared to 186 deals reported for the second half of 2016, according to Clyde & …

Post-Brexit Implementation Period ‘Desirable’ for UK, EU Firms: Bank of England

The Bank of England said a transition period after the Britain leaves the European Union would give banks more time to make orderly changes as Brexit poses risks to financial stability. With the UK due to leave the bloc in …