Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
UK Regulator’s Broker Probe May Make London Market More Competitive: Fitch
Nov 16 2017 // The UK Financial Conduct Authority’s review of the wholesale insurance broker market could help counter the trend of rising expenses for London market insurers, according to a Fitch Ratings briefing. This could make...
JPMorgan Warns of Market Disruption If Clearing Houses Cut-Off by Brexit
Nov 15 2017 // Financial markets face Brexit day upheaval if clearing houses in Britain are abruptly cut off from continental customers, a senior JPMorgan bank official said on Wednesday. Sally Dewar, international head of regulatory...
Dublin Attracts Wave of U.S. Financial Services Firms Seeking Post-Brexit EU Hubs
Nov 14 2017 // American direct investment in financial services that would normally head for Britain will be diverted in part to Dublin because of Brexit, Ireland’s financial services minister Michael D’Arcy said on Friday...
London Market’s IUA Warns Against Expansion of EU Motor Insurance Directive
Nov 6 2017 // The European Motor Insurance Directive (MID) should not be extended to include liability for accidents on private property, warned the International Underwriting Association (IUA). An expansion of the EU directive’s...
London Market’s Placing Platform, PPL, Adds P/C Lines to Growing Roster of Risks
Nov 6 2017 // PPL, the London market’s electronic placing platform, announced that property/casualty risks now can be bound on the platform. The PPL platform first began trading in July 2016 with stand-alone terrorism risks. It...
Iron-Excess Names 3 to Specialty Casualty Posts for U.S., London
Oct 30 2017 // Ironshore announced the appointments of three executives to underwrite Specialty Casualty risk in U.S. and London markets. Iron-Excess, the excess underwriting unit of Ironshore Insurance Services formed in September 2017,...
EU President Tusk Believes UK Could Reverse Its Plans for Brexit
Oct 25 2017 // European Union President Donald Tusk revived the notion that the U.K. will stay in the bloc after all, as British Prime Minister Theresa May struggles with persistent splits in her government. Speaking 16 months to the day...
Aon Benfield Names Siccardi as EMEA & UK Head of Client Services
Oct 24 2017 // Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, has appointed Leonora Siccardi as EMEA & UK Head of Client Services. Based in London and reporting to Maggie Westdale, CFO of Aon Benfield,...
Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire
Oct 23 2017 // Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries...
AIG UK Sells Its 1st Sharia-Compliant M&A Policy in London
Oct 19 2017 // AIG UK said on Thursday it had underwritten its first sharia-compliant warranty and indemnity policy out of London’s M&A insurance market, as the city looks to Islamic finance to help bring new...
Compensation for London’s Grenfell Fire Victims May Be Capped at $5M: Reuters
Oct 18 2017 // The bill for compensating families of those who died in the Grenfell Tower fire in London may be as low as 4 million pounds ($5 million), according to several lawyers and a Reuters analysis of how damages laws apply in...
AXIS Capital Completes Purchase of Novae; Executive Team Announced
Oct 18 2017 // AXIS Capital Holdings Ltd. it has finalized its acquisition of Novae Group plc, which creates a $2 billion insurer in London and a top ten re/insurer at Lloyd’s, with 2016 global gross written premiums of $6...
Q3 Catastrophe Losses Will Bring Rate Hikes by London Market Insurers: Fitch
Oct 16 2017 // Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers’ loss-affected lines and could also affect wider market pricing trends, according to Fitch...
Everest Re in London Taps Hiscox’s Armitage, Gairdner from Tokio Marine Kiln as Sr. Underwriters
Oct 12 2017 // Everest Re Group Ltd. announced the addition of several new senior underwriters to the London team of Everest Reinsurance (Bermuda) Ltd. Luke Armitage joins Everest Re’s London office as senior underwriter for motor...
Hiscox Names Markham as CEO for London Market Business
Oct 11 2017 // Specialist global insurer Hiscox announced the appointment of Kate Markham as CEO for its London Market business, subject to regulatory approval. Markham has been at Hiscox for five years and most recently was managing...
Uber: Giving UK Drivers Workers’ Rights Would Cost Millions of Pounds
Oct 10 2017 // Uber said on Tuesday that paying National Insurance contributions for its British drivers would add tens of millions of pounds to the taxi app’s costs were they to be deemed employees. Uber currently classifies its...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
UK Broker Capsicum Re Appoints Williams as Cyber Security Specialist
Oct 9 2017 // Capsicum Re, the London-based specialist reinsurance broker, announced the appointment of Conrad Williams as the latest addition to its cyber team. He will report to Ian Newman and Samantha Thompson, partners in Capsicum...
German Firms with UK Operations Should Prepare for ‘Hard Brexit’
Oct 5 2017 // German firms with a presence in Britain should make provisions now for a “very hard Brexit,” Germany’s biggest industry group said on Thursday, because the government in London does not know what it...
Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
Oct 3 2017 // Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case...
