Insurtechs send Chancellor ‘thank you’ letter after HSBC rescue of SVB UK

Bankruptcy

The UK insurtech sector has praised HSBC’s acquisition of the UK arm of Silicon Valley Bank, following its collapse on 10 March.

SVB, which was the 16th largest lender in the US, collapsed last Friday 10 March and had its assets seized by US regulators.

The lender had been attempting to raise £1.7bn in emergency funding to

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Labour promises to rip up red tape for insurers

Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.

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