Lloyd’s has received final approval from the High Court to transfer policies covering risks and policyholders in the European Economic Area to its Belgian subsidiary, Lloyd’s Europe.
The Financial Conduct Authority has written to Lloyd’s and London Market insurers instructing them to “behave ethically and responsibly in the way they treat their customers, their employees and their counterparties” during the pandemic.
Lloyd’s is set to learn whether or not the High Court will approve a Brexit-necessitated transfer of European policies to its Belgian subsidiary next week, following the conclusion of a two-day sanctions hearing on Thursday.
Lloyd’s could face a “lose-lose scenario” of having to choose between not paying claims or risking regulatory or criminal sanctions, if a proposed transfer of European policies to its Brussels subsidiary is not approved today.
The Financial Conduct Authority has cautioned brokers and managing general agents not to assume someone is “fit and proper” for roles under the Senior Managers & Certification Regime, with the expectation being that “some” staff will not meet standards.
Possible changes to the prudential regulations governing UK insurers could be limited by a desire not to stray too far from the EU’s Solvency II regime, a partner at Mazars has told Post.
The coronavirus pandemic has upended how we go about our day to day lives, with organisations forced to rapidly change how they operate while facing new challenges. Against this backdrop, Post wants to find out how your trade bodies and professional…
The insurance industry is navigating a period of economic instability and is still unsure what long-term effects the pandemic will have on direct and indirect taxes. Despite this lack of current clarity, it is sensible to plan for all eventualities,…
The value of premiums written in Europe but overseen and managed by the London company market dropped 60% in 2019, according to the International Underwriting Association.
Recently appointed managing director of the Managing General Agents’ Association Mike Keating has set out his vision for the association with growth of insurer partners high on the agenda.
The 100 largest UK-regulated insurers reported a combined underwriting profit in 2019, albeit lower than in 2018. Bond yields fell in 2019, however, investment earnings benefited from the strong performance of equity markets. How will the impact of the…
It is the year 2030. Following the success of 2019’s Blueprint One and 2025’s Blueprint Two [which also co-opted in the IUA and broader stakeholder representation], Lloyd’s and the wider London market is now ready for the highly anticipated third…
Evidence suggests product recalls are a growing issue in the food sector. Andrew Robinson, head of product liability and recall at Sedgwick International UK, explains why cooperative, closer monitoring and consistent and open dialogue will be essential,…
Office spaces in central London and other densely populated cities are not built to accommodate a rapid return for workers while Covid-19 remains a health concern, a Bank of England official has told MPs.
Tim Bailey has been named Zurich UK CEO, moving across from being group chief operating officer for Europe, Middle East and Africa.
The top 30 European insurers saw growth in non-life premiums in 2019 and overall profit after tax was significantly higher than in 2018. Mathilde Jakobsen, director, analytics, AM Best, explains what the market is facing
Ant Middle, UK CEO of Ageas, talks to Stephanie Denton about restructuring, refocusing and remaining positive throughout the challenges thrown up by 2020 so far
High Court approval of Lloyd’s proposed transfer of European policies to its Brussels subsidiary is not assured, according to an expert with experience of portfolio transfers.
The effective date for the Part VII scheme that will transfer Lloyd’s European policies to its subsidiary in Brussels has been pushed back to 30 December following a delay to the final court hearing in the process.
While average car insurance premiums fell 5% in the second quarter of 2020, deeper analysis reveals more is going on beneath the surface as Willis Towers Watson and Confused warn of future pricing “uncertainty.”
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Insurance recruiters told Post Covid-19 is being used as an excuse for companies to streamline their businesses.
Arag has posted a 14.7% rise in turnover to £14.1m for the year to 31 December 2019.
Despite increased sentiment and some rallies in markets, Lionel Pernias, head of buy and maintain at Axa Investment Managers believes that there are still plenty of challenges ahead for insurers' investments, particularly in their credit portfolios.