UK Insurer Aviva Prepares for ‘Hard Brexit’ by Transferring Assets from UK

Article 0 Comments Aviva Plc asked a London court to approve the transfer of assets totaling 9 billion euros ($10.2 billion), saying the uncertainty from Brexit was “intensifying” as it joined other insurers and banks triggering contingency plans. Aviva asked Judge Richard Snowden for permission to move the life-insurance policies […]

UK Minister Vows Financial Services to Remain ‘National Priority’ After Brexit

Article 0 Comments Financial services will remain a “guiding light” for Britain’s economy after Brexit and there is no intention to “rip up the rulebook” to compete better as a top financial center, a government minister said on Tuesday. “My priority is to ensure that financial services remain a national […]

It’s Up to Insurers to Prevent Brexit Disruption of Policies, Warns EU Chief

Article 0 Comments There is no guarantee that Brexit won’t disrupt millions of insurance and derivative contracts and it is still up to firms to take preventive measures, the European Union’s financial services chief said on Thursday. Valdis Dombrovskis was asked by EU lawmakers whether he could offer EU citizens […]