Hiscox sets aside £32m to weather impact of war in Ukraine May 5, 2022 Insurance giant Hiscox has ring fenced $40m to weather expected losses from the war in Ukraine, as it quantifies the hit of the conflict for the first time.
Lloyd’s of London prepares to fight over picking the tab up for $10bn Russian-seized planes May 2, 2022 Lloyd’s of London and aircraft lessors are reportedly going to war over who needs to pick up the tab after more than 400 foreign-leased planes were seized by Moscow following the invasion of Ukraine. Sources told the Telegraph Lloyd’s of London has hired global law firm Clyde & Co to investigate whether insurance claims made [...]
London-listed banks boost the City as earnings season rumbles on April 28, 2022 London-listed banks continued to boost the City this morning as lenders’ earnings season presses on full-steam ahead. The capital’s premier FTSE 100 index climbed 0.88 per cent to 7,491.03 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.95 per cent to 20,631.69 points. [...]
UK high street lenders whipsaw on muddled day of trading in the City April 27, 2022 The UK’s biggest high street lenders whipsawed in the City today after giving up morning gains that initially boosted London’s top indexes. The capital’s premier FTSE 100 index closed 0.53 per cent higher at 7,425.61 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped [...]
The City View: August CEO Mélie Dunod on rethinking holiday home co-ownership April 27, 2022 Today Andy Silvester talks to Mélie Dunod, CEO and co-founder of holiday home co-ownership firm August. She talks us through the company’s inception; why their equity purchase model allows for better and more transparent co-ownership; and the post-Covid re-examination of lifestyle purchases. And in the news: law giant Eversheds Sutherland has re-entered Russia, striking a [...]
Sanctions are having ‘profound’ impact on London insurers, expert tells MPs April 26, 2022 The sanctions imposed on Russia are having a “profound” impact on London’s insurance sector, a leading insurance expert has told MPs. London insurers are struggling to keep on top of complex sanctions legislation and have resorted to taking an extremely cautious approach, the insurance chief said. “The volume of the legislation that’s been coming [...]
Young accountant wins payout over insurance chief’s ‘demanding’ millennial comments April 26, 2022 A trainee accountant has won a case against employer, after his boss said she had made “the wrong decision in giving a dyslexic person the job” whilst firing him from his job at the Lloyd’s insurance broker. 26-year-old accountant Jay Patel is set to receive compensation for unfair dismissal, after an employment tribunal heard his [...]
The Corn is Green review: A twee revival at the National Theatre April 25, 2022 The National Theatre’s revival of Welsh actor and playwright Emlyn Williams’ The Corn is Green – the first major production in London since the mid-80s – is a comforting, middle-brow ITV period drama plopped onto the stage. The beats of this semi-autobiographical tale of an impoverished boy propelled from the pits to the cultural elite [...]
Hong Kong insurer becomes first in Asia to open up coverage to NFTs April 24, 2022 A Hong Kong insurance firm has opened up its coverage to NFTs – becoming the first insurer in Asia to offer such a service – as the city wrestles with its pandemic-induced “isolated status”. OneDegree, one of four virtual insurers in the global financial hub, has entered a three-year partnership with German reinsurer Munich Re [...]
Week ahead: City eyes cladding bill impact on house builders’ bottom lines April 24, 2022 Signs of the negative impact of the government turning to home builders to fix the cladding crisis is likely to draw City traders’ gaze in a week of jam packed corporate and economic announcements. London’s capital FTSE 100 index dipped 0.78 per cent to 7,521.68 over the last week, while the mid-cap domestically-focused FTSE 250 [...]