Articles by Katherine Griffiths

UK Insurers Call for Rule Change to Establish Captive Insurance Regime

Senior figures in the insurance industry are calling on the UK to restart work on a potential new market worth billions of pounds as part of a drive to boost competitiveness. Executives have written to Chancellor Rachel Reeves calling for …

UK Financial Services’ Firms Caught in Crossfire of Labour-Tory Business Battle

Britain’s Labour party has held back the launch of a new business council after senior Conservatives intervened with financial services companies that were due to take part. Chancellor of the Exchequer Jeremy Hunt spoke to at least one business about …

Ardonagh Sells £1.2 Billion Insurance Unit to UK Insurer Markerstudy

The Ardonagh Group is selling its personal insurance business in a deal that will give Chief Executive Officer David Ross an £800 million ($1 billion) war chest for further acquisitions in specialist insurance broking. Ardonagh is selling its Atlanta Group …

UK Government Seeks to Speed Up Post-Brexit Insurance Reforms

The UK government is in talks to speed the implementation of a flagship insurance reform to release £100 billion ($121 billion) of capital for investment, after months of clashes over the plans and frustration about the slow pace of change. …

UK Parliament Seeks Power to Scrutinize Financial Services Regulators

Britain’s financial regulators would face more scrutiny over their policies for consumers and the economy from Parliament under proposals from members of the House of Lords. A new independent body could track progress against certain metrics, with elected officials also …

UK Insurers Fear That Promised Brexit Capital Reforms Will Be Derailed

Insurers loved the UK government’s long-awaited plans to free up billions of pounds of their capital. But after the celebrations have come fears that regulators could nudge the changes in a more cautious direction. Reforms to City of London rules, …

UK Insurers, Banks Hope for Substantive Financial Services Reforms in 2023

After a jarring six months marked by sweeping policy promises, U-turns and four Chancellors of the Exchequer, UK financiers head into 2023 uncertain that the coming year will finally usher in substantive reforms to the City of London. Current Chancellor …

UK Government Pushes Forward With Long-Awaited Insurer Reforms

After years of fraught debate between regulators, insurers and the Treasury, Jeremy Hunt confirmed Thursday that the government would push forward with reforms to a corner of the City of London that’s intended to release billions of pounds of investment …

UK Government in Advanced Talks With Regulators on Insurance Capital Reforms

The UK government is close to an agreement with regulators over insurance capital reforms intended to release billions of pounds of investment into the economy. Jeremy Hunt, the Chancellor of the Exchequer, will announce the details as part of the …

UK Government Rushes to Outline Proposed Power to Overrule Financial Regulators

The UK government is rushing to outline a proposed power to overrule the City of London’s financial regulators, as it tries to avoid accusations that the move is an attack on their independence. The power is due to be added …