UK Lawmakers Vote Overwhelmingly to Ask EU for Brexit Delay

Article 0 Comments British lawmakers voted overwhelmingly on Thursday to seek a delay in Britain’s exit from the European Union, setting the stage for Prime Minister Theresa May to renew efforts to get her divorce deal approved by parliament next week. Lawmakers approved by 412 votes to 202 a motion […]

UK’s Global Aerospace Is Boeing’s Lead Insurer

Article 0 Comments Britain’s Global Aerospace is the lead insurer for the world’s biggest plane maker Boeing Co, the insurer’s top boss said on Monday. “I can confirm that Global Aerospace leads Boeing, and also Lion Air,” Chief Executive Officer Nick Brown said in an email. He did not give […]

Pool Re Funds £10M Initiative to Help UK Businesses Improve Resilience to Terrorism

Article 0 Comments Pool Re, Britain’s terrorism reinsurer, is collaborating with UK government agencies to help businesses proactively protect against the risk of terrorism. The £10 million ($13.1 million) project is being funded by Pool Re, led by the UK Counter-Terrorism Police, in partnership with the Home Office’s Joint Security […]

Pool Re Completes £2.3B ($3.1B) Terrorism Retrocession Placement

Article 0 Comments Pool Re, Britain’s state-backed terrorism reinsurer, has today completed placement of its £2.3 billion (US$3.1 billion) retrocession program with more than 50 international reinsurers, led by Munich Re. The program, provided on a three-year basis, is one of the largest reinsurance deals in the world, and the […]

Britain Adopting EU Laws So Finance Industry Ready for ‘Any’ Brexit Outcome, Says Minister

Article 0 Comments Britain’s financial sector will continue to function properly whatever form Brexit takes, a junior minister said on Tuesday, though the head of an industry body said it would back proposals to avert Britain leaving the EU without a withdrawal deal. Britain is due to leave the European […]

Aviva Gets Court Approval to Move Assets to Ireland as Part of Wider Brexit Wave

Article 0 Comments England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for 2259 GMT on March 29, is part […]

UK Probe of Wholesale Brokers Finds No Evidence of Anti-Competitive Behavior

Article 0 Comments Britain’s wholesale insurance brokers got a clean bill of health from the markets watchdog on Wednesday, providing some relief for an industry already spending millions of pounds on Brexit. London’s insurance market, which spans the Lloyd’s of London market and brokers such as Aon, Willis Towers Watson, […]

What’s Next for Brexit? Options Include Disorderly, Delayed or No Brexit

Article 0 Comments Britain’s parliament last month demanded Prime Minister Theresa May renegotiate a Brexit divorce deal that the other members of the European Union say they will not reopen. With just six weeks until the United Kingdom is due by law to leave the EU, the options include a […]

UK’s Financial Services Industry Still Unscathed from Brexit Uncertainty: Reuters

Article 0 Comments Britain’s financial services industry has emerged largely unscathed so far from the build-up to Brexit, with about 2,000 roles expected to have moved or been created overseas even as the risk of a disorderly exit grows, a new Reuters survey showed. Many bankers and politicians predicted Britain’s […]

UK Financial Sector Wants Deeper EU Access After Brexit Than Non-EU Countries

Article 0 Comments Britain’s financial sector needs stability to secure its future, along with deeper access to the European Union market after Brexit than what non-EU countries normally get, a senior industry official said on Wednesday. Britain is due to leave the bloc on March 29 but has yet to […]