Brexit insurance effect News

Brexit Is Moving £61 Billion in London Insurance Business to Rival Financial Centers

London’s outsized role in the global insurance industry is being whittled down by Brexit. As much as 61 billion pounds ($75 billion) of business is shifting to rival financial centers in the European Union as a consequence of Britain’s vote …

Brexit Update: City of London Prepares for Worst, Hopes for Best

Dismay, confusion, relief — and hope. The City of London had a range of reactions to the U.K. Parliament’s overwhelming rejection Tuesday night of Prime Minister Theresa May’s blueprint for quitting the European Union, and her sprint to cobble together …

RSA Receives Approval for Luxembourg Subsidiary for Post-Brexit EU Business

Insurer RSA Group has received licence approval for its new insurance subsidiary in Luxembourg from the r Commissariat aux Assurances (CAA). RSA Luxembourg is being established in preparation for the United Kingdom’s exit from the European Union to ensure there …

U.K.-EU Brexit ‘Working Group’ Tasked with Fate of Insurance Policies

The European Central Bank and the Bank of England have been drafted in to study the threats that Brexit poses to financial services. Just don’t expect this “technical working group” to save the day. Brexit’s potential to disrupt trillions of …

Lloyd’s CEO Warns Insurance Policies’ Continuity at Risk Under Brexit

Lloyd’s of London Chief Executive Officer Inga Beale said insurance contracts across Europe will remain at risk unless there’s an agreement on how they should be treated in post-Brexit Europe. “Regulators across Europe can actually come to an agreement themselves …

Lloyd’s Sees Political Risk Insurance Opportunity in Trump, Brexit

Lloyd’s of London Chief Executive Officer Inga Beale said Donald Trump’s presidency and the U.K.’s planned exit from the European Union are creating opportunities to sell insurance guarding commercial clients against disruptions in global commerce. “I wouldn’t be surprised if …