Brexit News

UK Insurers, Banks ‘Must Plan for Hard Brexit’ if Transition Deal Fails: Regulator

Britain’s banks and insurers must plan for a “hard” Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday in a warning echoed by Brussels. “With eight months until we exit …

MGAs Working with Insurtech Firms to Bolster Customer Centricity: Survey

Managing general agents (MGAs) are increasingly interested in working with insurtech firms to enable their businesses to become more customer-centric, according to a new survey of UK MGAs. More than 42 percent of survey respondents feel insurtech helps MGAs evolve …

UK PM’s Brexit Plans Threatened by Euroskeptics; Others Support 2nd Referendum

Theresa May’s long-running battle with her divided Conservative Party took a potentially more dangerous turn, as one of her former ministers began assembling lawmakers to vote against her Brexit plans. Euroskeptic Tories are angry that the prime minister wants to …

Trump Apologizes to UK Prime Minister for ‘Fake News’ Criticisms of Brexit Plan

President Donald Trump said on Friday the United States and Britain could secure a “great” post-Brexit trade deal, lavishing praise on Prime Minister Theresa May and contradicting his own withering assessment of her strategy publicized hours earlier. Fresh from sending …

Trump Criticizes UK Prime Minister’s Brexit Plan, Saying He Would Have Done It Better

U.S. President Donald Trump said a free trade deal with Britain might be impossible if London went ahead with Prime Minister Theresa May’s proposals for post-Brexit ties with the European Union, in damaging remarks that could widen domestic criticism of …

UK Banks, Insurers Support Global Standards for Regulation After Brexit: Watchdog

Britain’s banks and insurers want to stick to global standards on financial regulation after Brexit and are not calling for a “race to the bottom” to win business from European rivals, the head of Britain’s financial watchdog said on Wednesday. …

Financial Services Industry Slams Latest UK Proposal for Post-Brexit EU Trade Ties

Britain’s financial industry slammed U.K. Prime Minister Theresa May’s latest proposal for Brexit, with some calling it the worst outcome possible. In some of their most forthright comments since the referendum vote in 2016, industry executives said Thursday that her …

EU Dismisses UK Concerns About Post-Brexit Continuity of Insurance Contracts

The Bank of England’s warning that Brexit threatens trillions of pounds of financial contracts is falling on deaf ears in Brussels. Valdis Dombrovskis, the European Union’s head of financial-services policy, dismissed an alert issued by BOE Governor Mark Carney, who …

UK’s Top Brexit Officials Resign, Creating New Uncertainties for Business

Just as Prime Minister Theresa May softened her plan for leaving the European Union — a move that companies welcomed — the resignation of the U.K.’s top Brexit officials and foreign secretary creates new uncertainty for business. Carolyn Fairbairn, the …

Brexit Begins to Hit UK Financial Services as EU Counterparts See Big Gains: Study

Britain’s financial-services industry is suffering a drop in foreign investment while some of its European counterparts enjoy big gains, according to a new study that shows the starkest indication yet of Brexit’s impact on the sector. Investment from abroad in …