Bank of England lays out another round of changes to Solvency II to free up capital September 28, 2023 The Prudential Regulation Authority (PRA) has set out another round of reforms to the Solvency II regime in an attempt to unlock a wave of investment in the UK economy. The UK government set out its plans for a post-Brexit overhaul of the EU’s Solvency II rules in November last year, with a view to [...]
Can the City’s pension superfund dreams become reality? September 19, 2023 Government must go further and faster in reforming the UK’s pensions market if ‘superfunds’ that pump cash into the stock are to become reality, experts have warned.
UK risks losing ‘competitive advantage’ in race to develop self-driving cars September 15, 2023 The UK risks losing its “competitive advantage” in the development of self-driving vehicles if the government fails to pass legislation urgently, MPs and industry groups have warned. A report from the Transport Committee argues that self-driving has been a “Great British success story” but that if appropriate legislation is not included in the upcoming King’s [...]
City could inject £225bn into the economy after regulation refresh, top firms claim September 7, 2023 The City could inject an extra £225bn into the economy if regulators strip back red tape around financial services and unleash a wave of pension capital into the economy, a group of top firms have claimed.
Investec hand rugby vote of confidence with Champions Cup sponsorship August 31, 2023 Investec has handed rugby a much-needed vote of confidence by striking a five-year deal to replace Heineken as sponsor of the Champions Cup. Europe and South Africa’s premier club competition has been without a sponsor since the Dutch beer brand, involved since 1995, stepped away from the title association in June. It represents a huge [...]
Who’s really to blame for your car insurance getting more expensive? August 24, 2023 Ask anyone who has renewed their car insurance this year and they will tell you it has gone through the roof. But who, or what, is to blame for the surge in prices?
Car insurance premiums hit highest levels since records began August 11, 2023 Motor insurance premiums have soared to their highest levels since records began, according to research from the Association of British Insurers (ABI). Over the last year, the average price paid for car insurance rose 21 per cent to £511, the highest since the ABI began collecting data in 2012. The ABI said that “sustained cost [...]
City minister slams British investors ‘defunding’ UK defence giants like BAE August 7, 2023 City minister Andrew Griffith has slammed UK investors’ decision to move away from the country’s top defence firms such as BAE Systems. According to data from the London Stock Exchange, reported by the Financial Times, fund managers based in the UK have cut their holdings in defence firms, including BAE Systems and Qinetiq, by around [...]
MPs slam lack of diversity in venture capital market as just two per cent of funding goes to all-female founded businesses July 24, 2023 MPs have slammed the lack of diversity in the venture capital industry, demanding that the government take greater action to improve representation of women and ethnic minorities in the sector. In a new report, the influential Treasury select committee highlighted that just two per cent of venture capital funding in 2021 went to businesses with [...]
Insurance chiefs back new Solvency II investment forum to help deliver £100bn in investment July 19, 2023 The heads of the UK’s major insurance firms have written in support of a new Investment Delivery Forum to help drive investment following the reforms to Solvency II. Established by the Association of British Insurers (ABI) earlier in July, the forum is designed to tackle the investment gap preventing investment from the insurance and long-term [...]