Articles by Simon Jessop and Carolyn Cohn

Prudential to Complete Split of Insurance, Asset Fund by Year’s End

Britain’s biggest insurer Prudential will complete a planned break-up of the company by the end of the year, with its UK-focused fund and insurance business set to list as M&G Plc. The Asia and U.S.-focused rump of the company will …

Aviva Gets Court Approval to Move Assets to Ireland as Part of Wider Brexit Wave

England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for …

UK’s Financial Services Industry Still Unscathed from Brexit Uncertainty: Reuters

Britain’s financial services industry has emerged largely unscathed so far from the build-up to Brexit, with about 2,000 roles expected to have moved or been created overseas even as the risk of a disorderly exit grows, a new Reuters survey …

Danske Bank’s Money Laundering Could Implicate Other Banks: Whistleblower Lawyer

Danske Bank’s 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. …

UK’s RSA Plans to Exit Three London-Based Global Business Lines

RSA plans to pull out of several international business lines run out of London which it says are unlikely to produce the returns which the British insurer is seeking following a September profit warning. Closing international construction, international freight and …

Softbank Plans Big Push into Insurance Investments

Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters. In …

Update: UK Insurer Aviva to Replace CEO Wilson as Shareholders Seek Higher Returns

Aviva is replacing its chief executive Mark Wilson after his sweeping transformation of the British insurer did not deliver the returns shareholders were looking for. During his six years in charge, the high-profile 52-year-old New Zealander oversaw one of the …

As Brexit Day Nears, 630 UK Financial Services Jobs Have Shifted to EU, Reuters Finds

As few as 630 UK-based finance jobs have been shifted or created overseas with just six months to go before Brexit, a far lower total than banks said could move after Britain’s surprise vote to leave the European Union, according …

Amazon Weighs Formation of UK Insurance Comparison Website: Reuters

Amazon.com Inc is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the region’s …

Insurtech Firm Wefox Seeks New Funding with Softbank Among Investors: Sources

Wefox, one of Europe’s fastest-growing insurance technology firms, is close to settling on a new “triple-digit million” euro funding round, with Softbank’s Vision Fund among the suitors, three sources familiar with the negotiations said. One of the sources said Softbank …