Is gold still a safe haven? June 26, 2018 Can gold really act as a safe haven during political or financial crises? This issue has come into focus in 2018 because bullion has failed to deliver so far, even as world stock markets have struggled to reclaim January’s record highs, while tensions with Russia reached Cold War levels. The oil price has meanwhile jumped [...]
Shareholders back Standard Life Aberdeen’s £2bn insurance business sale to Phoenix June 25, 2018 Standard Life Aberdeen shareholders overwhelmingly backed the £2bn sale of its insurance business to Phoenix today. At its general meeting today 99.26 per cent of voters backed the deal which will see Phoenix acquire Standard Life Assurance Limited (SLAL), the company’s insurance arm. Read more: Lloyds sells off last of its holding in Standard Life [...]
Shareholders back Standard Life Aberdeen’s £2bn insurance business sell-off June 25, 2018 Standard Life Aberdeen shareholders overwhelmingly backed the £2bn sale of its insurance business to Phoenix today. At its general meeting today 99.26 per cent of voters backed the deal which will see Phoenix acquire Standard Life Assurance Limited (SLAL), the company’s insurance arm. Read more: Lloyds sells off last of its holding in Standard Life [...]
Brexit vote two years on: seven charts that tell the story June 22, 2018 On 23 June 2016, the UK public voted on whether or not to stay in the European Union (EU). Many expected the UK to remain in the EU, but by a majority of 52% to 48% the Leave campaign won. The UK is scheduled to leave the EU at 23:00 UK time on 29 March [...]
Willis Towers Watson completes £85m buy-in deal for Aliaxis Defined Benefit Pension Scheme June 21, 2018 London-based insurer Willis Towers Watson today announced that it had agreed a buy-in deal for £85m of the Aliaxis UK Defined Benefit Pension Scheme with Just Group. The payments were completed in two tranches, split between a £35m sum in November 2016, and a £50m payment last December. The deal covers 350 of the scheme's [...]
Cheesegrater, Bethnal Green tube station and the new Bloomberg HQ among winners in national architecture awards June 21, 2018 The Cheesegrater, the new Bloomberg headquarters and Bethnal Green tube station are among the winners in the Royal Institute of British Architects (Riba) 2018 national awards for architecture. Twenty six of the 49 winners, which were announced today, are located in London, including the Victoria and Albert Museum’s Exhibition Road Quarter, the Shaftesbury Theatre and [...]
American International Group (AIG) buys UK specialist life insurance business Ellipse from Munich Re June 20, 2018 US insurance giant American International Group (AIG) has agreed to acquire a specialist life risk protection business from reinsurer Munich Re in the UK. The business, Ellipse, is a specialist provider of group life risk protection in the UK. Group life risk is a product aimed at companies which can insure benefits due to staff [...]
AIG buys UK life insurance business Ellipse from Munich Re June 20, 2018 US insurance giant American International Group (AIG) has agreed to acquire a specialist life risk protection business from reinsurer Munich Re in the UK. The business, Ellipse, is a specialist provider of group life risk protection in the UK. Group life risk is a product aimed at companies which can insure benefits due to staff [...]
Millions at financial risk over Brexit contract issue, warns TheCityUK June 20, 2018 The personal finances of tens of millions of people are at risk because of the failure to secure cross-border contracts after Brexit, a new report has warned. Some 36m people, and the financial stability of the UK and EEA region, are facing a “looming crisis” if the UK and EU fail to agree a solution [...]
City writes to chancellor asking for shake up of tax system June 18, 2018 Some of the City’s leading associations will call on the government to review the tax burden imposed on entrepreneurs and the broader finance industry. A letter is being readied by groups including the City of London Corporation, UK Finance, TheCityUK, the Investment Association and the Association of British Insurers, which will be handed to chancellor [...]