European companies suffer 60,000 data breaches in eight months February 5, 2019 More than 59,000 data breaches have been reported across Europe since data protection laws were brought in last year, new figures have revealed. The Netherlands, Germany and the UK topped the list of the most reported breaches in the eight months since new GDPR laws came into force, according to law firm DLA Piper. Read [...]
Lloyd’s of London hires chief financial officer from Allianz February 4, 2019 Lloyd’s of London has appointed former senior Allianz executive Burkhard Keese as chief financial officer. The insurance market has hired Keese from the German insurance giant where he spent 14 years, most recently as chief financial officer of Allianz Deutschland. Keese’s hire comes as Lloyd’s new chief executive John Neal moves to build his executive [...]
Under the neon lights of Tokyo, the City is forging closer relationships with Asia February 4, 2019 Next week will see me travel to one of the busiest cities on earth, home to nearly 40m people and more square footage of advertising and media than anywhere else in the world: Tokyo. My visit is part of a 12-day trip to four Asian cities that will also take me to Seoul, Hong Kong, [...]
Time to appreciate the perks of the job? February 4, 2019 For full-time office workers blinking out of the window onto the cold, grey, concrete City, the advantages that they enjoy over the self-employed might not seem obvious. You daydream about rocking up at one of those shared workspaces at 11am in your jeans, laptop on your back, ready for a self-managed day of freelancing, and [...]
Hiscox chief executive Bronek Masojada elected as alderman in City of London election February 3, 2019 The chief executive of insurance provider Hiscox Bronek Masojada has been elected as a new City of London alderman. Masojada won Thursday's aldermanic election in Billingsgate with 52 votes with a turnout of 46 per cent. The runner up in the election was Andrew Heath-Richardson, director of development at the Canary Wharf Group, who secured 25 votes. Five [...]
New Lloyd’s boss John Neal apologises for ‘unacceptable’ results as he sets out his vision for the future January 29, 2019 The new chief executive of Lloyd’s of London apologised for the insurance markets’ “unacceptable” performance and unveiled a plan to get it back on track in his first public speech today. John Neal, who joined Lloyd’s four months ago from insurer QBE, took the job against a backdrop of poor results at Lloyd’s which suffered [...]
Changing industry, changing skill-set January 25, 2019 | City Talk In the 1990s, the skill-set required by asset management professionals was vastly different. The investment universe consisted primarily of equities and bonds. Alternative asset classes like hedge funds and private equity were accessible only to high net worth individuals and some particularly sophisticated pension funds. Balanced managers were hired to outperform benchmarks, not produce outcomes. [...]
Contract enforceability the ‘elephant in the room’ in Brexit discussions says MP January 22, 2019 Uncertainty around the enforceability of contracts is the “elephant in the room” in Brexit discussions, the chair of the justice select committee said today. Speaking to City A.M., Conservative MP Bob Neill cited insurance contracts and derivatives as examples of areas where there was still a great deal of uncertainty about post-Brexit contract enforceability. EU-based firms [...]
Full speed ahead for motor insurers on the legal road to self-driving cars January 21, 2019 In the last twelve months alone, the government has spoken loudly about the direction in which it wants advances in self-driving cars to go. And yet, though these developments are certainly innovative, and exciting, speed bumps remain – especially for the motor insurance industry – on the road to autonomous vehicles becoming an everyday reality. [...]
FTSE 100 index rises on hopes of US – China trade war breakthrough January 18, 2019 The FTSE 100 is up more than one per cent this morning on hopes of a breakthrough in trade talks between the US and China. The index was boosted by hopes of progress in the trade war, which were sparked by news reports suggesting that the US is considering reducing tariffs on Chinese imports. Read more: Markets lift [...]