Legal & General CEO would like to see UK ‘move more quickly’ on Solvency II reforms February 8, 2023 Insurance giant Legal & General would like to see the UK “move more quickly” in reforming the EU rules that govern Britain’s insurance sector, the head of the FTSE 100 firm’s pensions buyout segment told City A.M. Andrew Kail, chief executive of L&G’s institutional retirement business, called for “clarity” on the UK’s plans to reshape [...]
Iceland shrugs off loss of credit insurance cover saying it is ‘incredibly well positioned’ and expects to reinstate the policy soon February 7, 2023 According to reports first published in The Sunday Times, the French insurer slashed cover for the discount grocer in December - following a similar move by Allianz and Atradidus.
Tesla: Musk’s EV giant ready to enter UK insurance market with launch of London firm February 6, 2023 Electric vehicle (EV) maker Tesla appears to be readying itself to begin insuring British drivers through the launch of its own London-based insurer. Elon Musk’s automotive company is seeking to open a UK branch of its Malta-based insurance business, filings to Companies House show. Tesla is also hiring a lawyer to work in its “full-stack [...]
Executive pay rises should not outstrip staff salary bumps, Aviva warns February 5, 2023 Aviva Investors has warned company directors that it would be “inappropriate” to award themselves bumper pay rises and urged them to recognise that record high inflation puts far greater pressure on the budgets of their frontline staff. In a letter to the 1,600 firms in which it has stakes, including many in London, the fund [...]
The UK is hurtling towards a ‘Britcoin’ CBDC – here’s why… February 3, 2023 The UK's own CBDC - a Britcoin - is inevitable, says Nigel Green, who believes there are two clear markers for its certain introduction.
The Square Mile and Me: Lloyd’s of London’s Dawn Miller on her favourite City spots February 2, 2023 We dig into the memory bank of the City’s great and good. This week, Lloyd’s of London’s Commercial Director Dawn Miller tells us why she’s never too far from the market… WHAT WAS YOUR FIRST JOB? My first internship was for my state representative from Georgia when I was in University. He was a former [...]
Chris Woolard on BNPL, regulatory run-ins and getting financial rulemaking right February 2, 2023 The regulatory veteran wants a rulebook for the 21st century, but getting it right might trump speed, Charlie Conchie writes. Urgent. That was the word used by the former-interim chief of the City watchdog Chris Woolard when he gave his verdict on regulation of buy-now pay-later services in a landmark review two years ago today. [...]
Architects of UK financial rules question direction of Edinburgh reforms February 1, 2023 Two leading architects of the UK’s financial regulations today questioned the idea of giving regulators a competitiveness mandate and warned that reforms to Solvency II could expose the financial sector to greater risks. In a Treasury committee hearing today, John Vickers, chair of the independent banking commission, doubted the idea of giving financial regulators a [...]
As the EU rehashes old myths of no win-no fee litigation, London stands to benefit February 1, 2023 In the EU, there are still many misconceptions about litigation funding. Here in London we must see it as a way for companies to manage risks and costs, writes Glenn Newbury
Law firm Ince’s shares to remain suspended after further results delay January 31, 2023 The listed law firm Ince announced this morning it has further pushed back the publication of its results for the last financial year. Ince told markets this morning that auditors BDO have “informed the company that they require additional time to conclude their audit procedures.” That means the publication of the firm’s annual report for [...]