Articles by Philip Aldrick and Greg Ritchie

Identities of Shadow Banks That Use New BOE Tool to Remain Secret

The Bank of England will hide the identities of any pension funds, insurers or hedge funds bailed out under a new financial stability tool to prevent a wider crisis engulfing the economy, Deputy Governor Dave Ramsden said. The BOE has …

Private Equity Tie-Ups With Insurers Create Risks, BOE Says

Private equity’s advance into the insurance sector exacerbates the risk of “fire sales” that disrupt the functioning of financial markets, the Bank of England warned. A growing number of PE firms in the US have acquired life insurers, while British …

UK Finance Firms’ Concern Over Geopolitics at Record Level

The share of UK financial services firms worried about geopolitical risks is at its highest level since the 2008 crash, the Bank of England said. The BOE’s biannual systemic risk survey, which began during the financial crisis, said on Wednesday …

The Huge Profits Investors Have Made on Catastrophe Bonds Are Raising Eyebrows

A strategy that’s delivered specialist investors huge returns is now facing scrutiny, amid concerns that its risk-reward dynamics might be skewed against some issuers. Catastrophe bonds, which are issued by insurers, reinsurers and governments seeking an extra layer of disaster …

Banks, Asset Managers Warned of ‘Huge’ Fallout From UK’s New Greenwashing Law

Banks and asset managers in the UK woke up to a new reality on Friday, as the country enforces some of the most far-reaching anti-greenwashing rules ever seen. Due to its broad scope, the new requirement from the Financial Conduct …

UK Firms Told to ‘Urgently Review’ Green Claims Amid Crackdown

Firms operating in the UK are being advised to go through any products and services around which some sort of sustainability claim has been made, to ensure they’re not in the crosshairs of a regulatory crackdown that’s due to take …

Reinsurers Retreat From U.S. Disaster Hotspots on Climate Risks

Reinsurers are increasingly reconsidering their business in natural disaster-prone locations including California and Florida as losses mount, according to Moody’s Investors Service. Climate change has increased wildfire risk in California while hurricane losses in Florida have already seen a number …

Fund Managers Frustrated Over Confusing ESG Regulations

After a turbulent few weeks during which some of the world’s biggest asset managers removed coveted ESG tags from huge chunks of their business, industry bosses have had enough. Managers running the funds affected are now talking openly of the …

Growing Exodus of Workers from City of London Cripples Small Businesses

At lunch hour, James Leahy’s Burrito Joe stall in the City of London’s financial district is usually buzzing as people line up from around the corner for their fajitas, tacos, quesadillas and rice-and-meat bowls. Now, those same finance sector employees …

Aon and Other Companies Distance Themselves from Prince Andrew over Epstein Links

The U.K.’s former state phone company is the latest organization to distance itself from Prince Andrew after a prime time television interview threw fuel on the fire of the controversy surrounding his relationship with convicted child sex offender Jeffrey Epstein. …