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.
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…
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.
The High Court has green-lit Lloyd’s plans for notifying European policyholders that their business will be transferred to the market’s Brussels branch later this year.
The Financial Conduct Authority confirmed that during the Brexit implementation period European Union law will continue to apply and firms will continue to benefit from passporting between the UK and European Economic Area.
The Financial Services Compensation Scheme has forecast that the failures of Qudos Insurance in December 2018 and Lamp Insurance in May last year will cost £12.4m this financial year.
FSCS has paid out a total £276m following the collapse of unrated insurers Alpha, Gable and Enterprise
The UK’s Financial Services Compensation Scheme has paid out a total £276m in claims to the policyholders of three overseas unrated insurers that collapsed between 2016 and 2018.
As Markel International gears up for more growth across its national markets business and looks to build on its presence in Europe, Jen Frost spoke to Markel International president William Stovin about the history of the business and why Brexit has…
As the negotiations over Brexit reach another crescendo of confusion, especially as the EU, UK and European leaders meet in Brussels, the insurance industry can only look on nervously. Those nerves, spiced with concern, are not just felt in the UK but…
European firms passporting into the UK need to notify the Financial Conduct Authority that they wish to enter the temporary permissions regime by 30 October in order to ensure they are able to continue operating in the event of no-deal Brexit, the…
The 100 largest UK-regulated insurers, ranked by non-life gross premium written, reported a combined underwriting profit in 2018, compared to a loss in 2017. Catherine Thomas, senior director of analytics in London at AM Best, explains how they achieved…
Newly appointed managing director for UK & Ireland Steven Wallace discusses expansion plans, consolidation within the market and Brexit
Major financial services firms had spent nearly £4bn preparing for life after Brexit as of 31 May, according to EY.
The UK has seen a wave of consolidation in regional broking over the past few years, making competition for viable targets a challenge. In response, several consolidators are starting to look to Ireland and Europe as a potential area of expansion.
Germany has adopted preliminary provisions, which could see the passporting rights of UK financial institutions, including insurers, temporarily extended in the event of a no-deal Brexit.
Insurance sectors in the UK and Switzerland will continue trading freely with one another after Brexit, following a trade agreement signed at the World Economic Forum in Davos yesterday.
Irish broker Arachas is considering reaching out to UK partners to overcome potential passporting barriers in a post-Brexit world.
We may not have flying cars, humanoid robots and exaggerated shoulder pads, but there is every reason to believe that the 2019 predicted by 80s film Blade Runner, looks very slightly dystopian.
With Brexit, increased scrutiny over reserves, climate change and emerging risks on the ‘watch’ list for 2019 The Prudential Regulation Authority certainly has a lot on its plate. Its executive director for insurance, David Rule spoke to Stephanie Denton…
The Association of British Insurers has criticised the European Commission for failing to make contingency plans that would allow UK insurers to fulfil contracts with EU policyholders in the case of a no-deal Brexit.
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
How can insurers help customers facing Brexit uncertainly when they themselves face taking a blind bet on whether the UK will face a hard or soft deal when leaving the European Union? David Worsfold investigates.
Insurance has come under fire for the way it prices policies. Jonathan Davidson, director of retail at the Financial Conduct Authority, discusses the problem with Martin Croucher