European Union News

London Market’s IUA Warns Against Expansion of EU Motor Insurance Directive

The European Motor Insurance Directive (MID) should not be extended to include liability for accidents on private property, warned the International Underwriting Association (IUA). An expansion of the EU directive’s scope to cover vehicles such as ride-on lawn mowers and …

EU Aims to Hike Old-Age Protection with Proposal for Pan-Europe Pension Product

The European Commission proposed on Thursday establishing a new pan-European pension product to increase private savings for old age and boost the growth of an EU industry currently worth some 700 billion euros ($800 billion). The measure is part of …

EU Should Support ‘Reasonable’ Brexit Deal for London: German Minister

The City of London offers financial services that benefit Europe as a whole and the European Union should recognize that in a “reasonable” Brexit deal with Britain, German Finance Minister Wolfgang Schaeuble said in a newspaper interview. “We don’t want …

AIG May Move Europe HQ from London to Another EU Country on Brexit

U.S. insurer AIG may move its European headquarters from London to another European Union country because of Britain’s vote to leave the EU, the head of the AIG’s European and UK operations said at an industry conference on Tuesday. AIG …

London Financial Groups Losing Faith in Quick Fix to Get EU Access After Brexit

Big financial groups in London are losing faith in a quick fix to get access to the European Union after Britain leaves the bloc and are instead drawing up contingency plans to avoid becoming hostage to Brussels politics. In the …

Formal Brexit Talks Likely to Be Triggered in April 2017: UK Officials

Prime Minister Theresa May’s team is still leaning toward the first part of 2017 as the best moment to trigger the start of formal talks over the U.K.’s withdrawal from the European Union, according to two British officials. While reports …

AIG Offers Brexit Coverage in UK for Anxious Executives

American International Group is coming out with new Brexit coverage in the UK for anxious executives, barely weeks after the fateful British vote to pull out of the European Union. AIG division AIG UK will handle the product launch, which …

Dublin Looks to Lure Financial Services Jobs from UK After Brexit Vote

Irish recruiters are already filling jobs for financial services firms which are shifting some operations from the United Kingdom, with Dublin moving fast to steal a march on rivals just a month after Britons voted to leave the European Union. …

Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …

Suit Seeks to Force UK PM to Consult Parliament Before Initiating Britain’s EU Exit

A lawsuit seeking to force Prime Minister Theresa May to consult parliament before beginning Britain’s exit from the European Union will be taken “very seriously” and may reach the Supreme Court by December, Judge Brian Leveson said. “The court takes …