Supreme Court rejects insurers’ claims in landmark business insurance case January 15, 2021 The Supreme Court has largely ruled in favour of policyholders and the City regulator in the landmark business interruption insurance case. In a judgment handed down today, the court said it “substantially allowed” the appeal by the Financial Conduct Authority (FCA) and campaign groups Hiscox Action Group and Hospitality Insurance Group Action. The insurers Arch, [...]
Business interruption case heads to the Supreme Court November 16, 2020 A landmark legal battle between the City regulator and leading insurers over business interruption payouts heads to the Supreme Court today. Hundreds of thousands businesses that were forced to close or faced significant losses amid the pandemic made claims on their business interruption insurance. But leading insurers disputed the claims arguing their policies did not [...]
Supreme Court to hear FCA business interruption insurance appeal this month November 2, 2020 The Supreme Court will this month hear an appeal of the Financial Conduct Authority’s business interruption insurance test case. The test case launched by the watchdog against eight insurance companies was fast-tracked for an appeal earlier this month. The FCA launched legal proceedings in June after it failed to find an agreement with the insurance [...]
RSA, Hiscox and others drop appeal against Covid-19 business interruption insurance payout rulings October 21, 2020 The appeals linked to the Resilience, Eaton Gate Retail, and Eaton Gate Pubs & Restaurants business interruption insurance policies have now been dropped.
FCA gets green light to take insurance giants to Supreme Court over Corona policies October 5, 2020 A High Court in London approved the FCA’s request to let the Supreme Court decide on the matter in which the market regulator is seeking clarification on the wording of numerous insurance policies in relation to claims filed as a result of the pandemic.
British Land and Oxford Properties have sold the Cheesegrater for £1.15bn March 1, 2017 British Land and Oxford Properties have exchanged contracts for the sale of the Leadenhall Building to C C Land for £1.15bn. Shareholders of the Hong Kong-listed C C Land must now approve the sale before it can be completed. Tim Roberts, head of offices and residential, British Land, said: "British Land and Oxford Properties took [...]
For sale: The Cheesegrater – as British Land comes closer to flogging the Leadenhall Building for £1bn February 28, 2017 One of London's tallest buildings has been put up for sale by its owners – with reports suggesting it could go for as much as £1bn. British Land said this morning it is in "advanced discussions" regarding a sale of the Leadenhall Building, aka the Cheesegrater. Property bible CoStar said British Land had instructed agents to [...]
City Moves for 23 September 2016 | Who’s switching jobs September 23, 2016 London Market Group London Market Group has appointed Chris Beazley as its first permanent CEO. Chris will take over from Ben Reid, who was seconded from EY as interim CEO. Ben will return to EY where he has been promoted to become an executive director. Chris Beazley is currently head of strategy and global clients for MS [...]
British Land says investors will be cautious after the Brexit vote July 18, 2016 FTSE 100-listed commercial property giant British Land said this morning it expects investors and occupiers to take a cautious approach to property in the aftermath of the Brexit vote. The figures Since the EU referendum vote, British Land has secured the sale of Debenhams' Oxford Street store for £400m and the company has made 17 long-term retail leases totaling 58,000 sq ft, for [...]
EU data boost FTSE amid hope for China upturn – London Report September 9, 2015 The UK’S top share index rallied yesterday, extending its gains from the previous session with a boost from better-than-expected Eurozone second quarter GDP data and hope for further market stimulus on Chinese markets. The FTSE 100 was up 1.2 per cent at 6,146.10 points at the close, lagging blue-chip German stocks. The European Union’s statistics [...]