July 9, 2020
The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England said, as a court prepares to rule on whether existing policies cover big losses caused by …
June 20, 2019
Lloyd’s has gathered a group of industry heavy-hitters — such as Evan Greenberg at Chubb, Dan Glaser at Marsh & McLennan, and John Haley at Willis Towers Watson — to sit on advisory committees that will help support and develop …
July 13, 2018
Britain’s financial industry slammed U.K. Prime Minister Theresa May’s latest proposal for Brexit, with some calling it the worst outcome possible. In some of their most forthright comments since the referendum vote in 2016, industry executives said Thursday that her …
December 1, 2017
As far as Brexit headaches go, Barclays Plc’s John McFarlane says that while his bank is on top of job relocations, he’s more concerned about rewriting “hundreds of thousands” of contracts. He’s not alone. Andrew Bailey, head of the U.K. …
August 9, 2017
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 …
July 13, 2017
The insurance and long-term savings sector is one of the UK’s most productive industries, adding more than £40 billion (US$51.5 billion) a year to the economy and helping Britain thrive, according to a study commissioned by the Association of British …
November 22, 2016
U.S. insurer AIG may move its European headquarters from London to another European Union country because of Britain’s vote to leave the EU, the head of the AIG’s European and UK operations said at an industry conference on Tuesday. AIG …
January 11, 2016
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 …
July 10, 2015
The Bank of England will issue its verdict in December on the models insurance companies use to quantify risk and determine capital requirements as the industry prepares for the new European Union rules known as Solvency II. “I consider it …
June 3, 2015
The risk of a British exit [‘Brexit’] from the European Union is causing major political uncertainty for the insurance industry, the chief executive of the Association of British Insurers (ABI) said on Tuesday. This is compounded by the risk of …