All Topics articles – Page 30
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NewsOsborne aims to cut corporation tax below 15%
Chancellor of the Exchequer George Osborne is planning to cut corporation tax to less than 15% to boost investment following the Brexit vote. In an interview with the Financial Times, Osborne said he wants to slash UK corporation tax from its current rate of 20% to ...
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NewsLabour's McDonnell says passporting rights 'vital'
The Labour Party will seek to preserve passporting rights for financial services including insurance. Shadow chancellor John McDonnell (pictured) cited passporting rights as one of the Labour Party’s “red lines” in its policy on negotiations with the EU after last week’s Brexit vote. Labour’s red lines ...
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NewsBrexit means bad news for innovation says Atidot
Start-up risk management company Atidot chief executive Dror Katzav has said that Brexit means bad news for innovation as start-ups are “businesses for immigrants”. Speaking at a London InsurTech event on June 29, six panellists shared their views on whether Brexit would impact the InsurTech wave ...
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NewsLloyd’s pushes for passporting as Brexit threatens £800m GWP
Lloyd’s estimates that £800m of its gross written premium (GWP) could be affected if access to the single market is lost because of Brexit. This accounts for 4% of its £26.6bn total GWP. The insurance market made the estimate in a document outlining its plans to deal with the UK’s ...
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NewsElite looks to quit Gibraltar HQ to preserve EU passporting rights
Elite Insurance said it is looking for a new headquarters outside of Gibraltar. The insurer said it won’t wait for the outcome of Britain’s negotiations with the EU, and is taking action to safeguard its business in the EU. “Elite is already researching alternative domiciles for ...
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NewsUnderwriters want speedy post Brexit settlement - with passporting rights
A new trading relationship between the UK and the EU must be set out as soon as possible, and it must include passporting rights, according to the International Underwriting Association (IUA). Companies in the London market don’t want a prolonged negotiation, and are developing contingency plans ...
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NewsUK insurers 'better off outside EU', says former Civil Service head
UK insurers will be better off outside the EU because they can escape the “absolutely dreadful” Solvency II rules, according to the former head of the Civil Service. EU capital rules have damaged competitiveness and hampered the insurance sector’s ability to expand, Lord Turnbull told the ...
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NewsAnalysis: The EU faces a fight for its very existence
No-one appeared to see this coming. In truth, they should have done, says our sister publication, Strategic Risk
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Online onlyAviva pressure eases after post-Brexit turmoil
Aviva’s share price revovered some of its recent short falls, rising 6.5% in Tuesday’s trading to 368pence. The insurers’ shares had fallen 22% since Thursday’s Brexit vote to close yesterday at 347pence. Aviva, who was one of the biggest victims of the voters’ decision to withdraw ...
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NewsAviva stresses it is 'resilient' as shares crash 22%
Aviva’s share price has tanked 22% since Friday, one of the biggest victims of voters’ call to exit the EU. The share price was 442p on Friday’s start of trading, but now it is at 347p. The share collapse and voters’ decision to exit the EU ...
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NewsGibraltar insurer Elite considering new European unit post-Brexit
Gibraltar-based insurer Elite is considering setting up a new company so it can continue writing mainland European business after the UK leaves the European Union. Elite currently takes advantage of passporting rules, which allow companies to operate across the EU and European Economic Area with a ...
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NewsAviva reassures market on solvency amid Brexit turmoil
Aviva said this morning that its Solvency II coverage ratio “remains close to the top of its working range” of 150% to 180% despite market volatility triggered by the UK’s decision to leave the European Union. The insurance group announced with its full-year 2015 results in ...
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NewsFCA: EU-derived rules still apply despite Brexit vote
The FCA has reminded companies that they must continue to abide by their obligations under UK law, including any derived by the EU, following the vote to leave the European Union. The regulator said the rules would apply until the government changes legislation to reflect the ...
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NewsWhat next for insurance after Brexit? Read the SR guide
How does the insurance industry cope with Brexit? Our sister publication Strategic Risk has published a guide to the key risks of Brexit, with contributions from academics, legal experts and QBE chief executive Richard Pryce. Click here to view the guide: Assessing the Key Risks of ...
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NewsCustomers should avoid hasty decisions after Brexit vote - ABI
Customers of UK insurance companies should avoid making hasty decisions about their financial matters in the wake of the UK Brexit vote, according to the ABI. “Customers should remember we remain part of the EU until the process of leaving is complete and they should therefore ...
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NewsBrexit could force insurers restructure as passporting rights go - PwC
The loss of passporting rights following the UK’s Brexit vote could force general insurers and the London market into a major restructuring, according to corporate services firm PwC. “The Lloyd’s & London Market and general insurance Market make extensive use of passporting. The loss of these ...
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NewsBiba urges members to vote 'Remain' in EU referendum
Biba has repeated its support for remaining in the EU, and urged members to make their voices count in Thursday’s referendum. The brokers’ body reiterated its position that the British insurance broking sector would be better off remaining in the EU, and that Brexit “would be ...
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NewsBrexit poses ‘grave threat’ to London insurance market
Britain leaving the European Union poses “a grave threat” to jobs and business in the London insurance market, according to Lloyd’s, the International Underwriting Association of London (IUA) and insurer Fidelis. UK voters will decide whether or not to leave the EU in a referendum on ...
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NewsBrexit will damage UK insurers and the London Market, bosses say
Most UK insurance executives think that leaving the EU would severely damage the UK insurance industry and the London market, according to a study by international law firm Kennedys. “There is near universal agreement amongst senior executives in the insurance industry that the UK leaving Europe ...
