Brexit News

UK P&I Club Chooses Dublin as EU Headquarters After Brexit

British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialized providers to opt for Ireland in two days. …

Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters

Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are insurers’ plans for EU subsidiaries (in …

UK P&I Insurer North to Form Dublin Subsidiary as EU Post-Brexit Hub

British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to announce such a move. Insurers are making …

JPMorgan Warns of Market Disruption If Clearing Houses Cut-Off by Brexit

Financial markets face Brexit day upheaval if clearing houses in Britain are abruptly cut off from continental customers, a senior JPMorgan bank official said on Wednesday. Sally Dewar, international head of regulatory affairs at the U.S. bank, said that without …

Dublin Attracts Wave of U.S. Financial Services Firms Seeking Post-Brexit EU Hubs

American direct investment in financial services that would normally head for Britain will be diverted in part to Dublin because of Brexit, Ireland’s financial services minister Michael D’Arcy said on Friday [Nov. 10]. Dublin’s financial services sector is being boosted …

UK Could Lose 75,000 Insurance, Banking Jobs as a Result of Brexit: Regulator

Sam Woods, Britain’s top banking regulator, said a consultancy’s estimate that Brexit could cause as many as 75,000 job losses in banking and insurance is “plausible” if the U.K. leaves the European Union without a trade deal. About 10,000 U.K.-based …

UK Faces Bad Deal for Brexit, Gloomy Outlook: S&P, Fitch

Standard and Poor’s and Fitch held their credit ratings for Britain unchanged on Friday [Oct. 27], but both remained gloomy about the outlook due to the likelihood of the country reaching a bad deal in its divorce talks with the …

EU President Tusk Believes UK Could Reverse Its Plans for Brexit

European Union President Donald Tusk revived the notion that the U.K. will stay in the bloc after all, as British Prime Minister Theresa May struggles with persistent splits in her government. Speaking 16 months to the day since Europeans woke …

UK Must Secure Brexit Transition Deal or Risk Losing Jobs: Business Leaders

The British government must act urgently to secure a Brexit transition deal or risk losing jobs and investment in the country, business leaders representing millions of workers are due to warn. In a draft letter due to be sent to …

AIG UK Sells Its 1st Sharia-Compliant M&A Policy in London

AIG UK said on Thursday it had underwritten its first sharia-compliant warranty and indemnity policy out of London’s M&A insurance market, as the city looks to Islamic finance to help bring new business. Development of Islamic finance is accelerating in …