Latest London Headlines
All the headlines from our London Topic Page, ordered by recency.
Fidelis Takes Equity Stake in New MGA Firestone Surety
Dec 15 2017 // Fidelis Insurance announced it has taken an equity stake in a new managing general agent (MGA) Firestone Surety Ltd., and will provide underwriting capacity. Details about the amount of Fidelis’ investment and...
Deadly London Tower Fire Sparks Development in U.S. of Safety Evaluation Tool
Dec 15 2017 // Six months after flames engulfed a London high-rise and sparked concerns about similarly-clad buildings around the world, a U.S.-based fire prevention group has developed a tool aimed at making buildings safer. The...
London Police Eye Criminal Charges Related to Grenfell Tower Disaster
Dec 14 2017 // London police are considering a variety of criminal charges related to the June fire at Grenfell Tower that killed 71 people. Police told an inquiry Monday [Dec. 11] that the possible charges include misconduct in public...
Factbox: More Insurers Make Decisions About Post-Brexit Headquarters
Dec 13 2017 // Liberty Specialty Markets said it planned to redomicile its UK insurance company to Luxembourg, as a result of Britain’s decision to leave the European Union. Below are insurers’ plans for EU subsidiaries (in...
London Financial Industry Welcomes Brexit Breakthrough but Won’t Alter EU Plans
Dec 8 2017 // London’s financial industry welcomed progress on a divorce deal with the European Union on Friday but said it saw little reason to alter preparations for when Britain leaves the EU. The agreement on Friday paves the...
UK, EU Agree to Brexit Divorce Deal, Paving Way for Next Stage of Talks on Trade
Dec 8 2017 // Britain and the European Union struck a divorce deal on Friday that paves the way for arduous talks on future trade ties, easing immediate pressure on Prime Minister Theresa May and boosting hopes of an orderly Brexit. May...
Update: Messy Brexit Could Lead to ‘Contract Continuity’ Disruption for Insurers, Banks
Dec 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...
Beazley Establishes Marine Insurance Platform In U.S.
Nov 30 2017 // Beazley has established its new U.S. marine platform with an initial focus on hull, protection & indemnity (P&I) and liability coverage for the marine and marine construction marine platform sectors. Beazley has...
UK Financial Services Industry Pays Record Taxes, ‘Underlining Need’ for Brexit Deal
Nov 27 2017 // Britain’s financial services industry paid a record 72.1 billion pounds ($96.2 billion) in tax during the past fiscal year, PwC said in a report that piles pressure on the government to secure favorable trading terms...
California-based Insurance Law Firm Sedgwick Closing Offices
Nov 21 2017 // Sedgwick LLP, a San Francisco, Calif.-based law firm that represented numerous insurance clients, is closing. The news of the closure came in the form of a letter sent out to employees this week making it known that...
Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters
Nov 21 2017 // Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are...
UK P&I Insurer North to Form Dublin Subsidiary as EU Post-Brexit Hub
Nov 20 2017 // British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to announce such a...
Impact of Recent Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Impact of Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Impact of Recent Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
UK’s IUA Publishes Good Practice Guide for Delegated Authorities
Nov 17 2017 // A guide to good practice for delegated authority arrangements in the London company market has been published by the International Underwriting Association, the group that represents non-Lloyd’s international and...
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...
