Insurance bosses ready wave of investment after Solvency II shake-up February 22, 2022 Britain’s insurance giants have welcomed government plans to shake-up EU-era solvency rules as they prepare to unleash a wave of investment across the UK.
All aboard the crypto train? February 22, 2022 Are you a wealth manager who believes bitcoin and other cryptocurrencies are a passing fad or worse? You’re not alone. But you also may want to reconsider. The wealthiest clients certainly don’t agree and they are voting with their wallets. In fact, 72% of high-net-worth individuals (HNWIs) have invested in crypto, according to the 2021 [...]
UK paid more tax on alcohol and cigarettes than stamp duty during the pandemic February 22, 2022 New analysis has revealed how the pandemic influenced tax growth across the UK, as HMRC received more from Alcohol and Tobacco duties during the 2020/21 tax year than they did for stamp duty. RIFT Tax Refunds’ data on the total receipts received by HMRC during the first full pandemic tax year of 2020 to 2021 [...]
Solvency II regulations to go in first sign of post-Brexit shake-up February 21, 2022 The Government has unveiled plans to slash regulation in the insurance sector and allow Britain’s insurance giants to unleash a flood of funding into UK infrastructure projects, in a major shakeup to EU-era financial rules. Speaking to insurance bosses last night, City Minister John Glen said the Government will overhaul 2016 Solvency II regulation which [...]
Sam Torrance: Fearless Joaquin Niemann is part of a classy new guard February 21, 2022 Joaquin Niemann has long been tipped for the big time, the former world No1 amateur mentioned alongside Collin Morikawa and Viktor Hovland as stars of the next generation. Were it not for the extraordinary success enjoyed by two-time major winner Morikawa and world No4 Hovland, Niemann’s own very promising first few seasons as a professional [...]
HMRC rakes in £50bn thanks to new business taxes February 21, 2022 New research released today has revealed that HMRC has collected more than £50bn from firms in the last decade thanks to eight new business taxes. According to data from Thomson Reuters, in the past year alone, eight new taxes raised a total of £7.2bn from businesses, including £300m from its newest tax, the Soft Drinks [...]
Why 2021 was such a favourable year for electric cars February 19, 2022 In the words of Erik Fairbairn, chief executive of LSE listed electric vehicle (EV) Pod Point, 2021 was the year electric cars became a mass market. Not only did his company post record profits in the first results since its IPO but, overall, the industry has boomed in the last 12 months. EV output emerged [...]
Weekend chat: Traditional methods to tackle £750m fraud tsunami is like taking a knife into a gunfight February 19, 2022 From scam phone calls, text messages and emails, fake websites, falsified documents and fake insurance claims, fraud has become big business – and a big problem. In the first half of 2021, criminals stole a total more than £753m million through fraud, an increase of 30 percent compared to the first half of 2020, according [...]
Baby you can’t drive my car: 6.7m motorists at risk of driving uninsured February 18, 2022 Around 6.7 million UK motorists are currently at risk of driving uninsured, according to a new research from automotive insurance Direct Line. Only 38 per cent of the 14 million people who have driven someone else’s car in the last year checked they were insured to do so, while 32 per cent said they were [...]
Allianz sets aside €3.7bn to pay for collapsed fund lawsuits, following talks with US authorities February 17, 2022 German insurer and asset manager Allianz has set aside €3.7bn (£3.1bn) to settle lawsuits arising from the collapse of its Structured Alpha funds, following talks with US authorities. Allianz, the world’s largest insurance company, said it had set aside €3.7bn in “anticipation of settlements with major investors.” The comments come after the US Department of [...]