Lloyd’s of London points out booze and drugs exemptions as it hits back at Kanye West’s $10m lawsuit with a counter-claim August 31, 2017 Members of the Lloyd’s of London insurance market have filed a legal challenge to Kanye West’s claims he was owed $10m for the cancellation of last year’s Saint Pablo tour, according to reports. In a counterclaim filed with a Los Angeles federal court yesterday, Lloyd’s syndicates said West’s Very Good Touring Inc had failed to [...]
Initiatives focused on ESG reporting are making progress, but there is more to do August 29, 2017 It is frequently acknowledged that investors should identify and analyse any environmental, social, and governance (ESG) factors that could impact the value creation and risk profile of companies and integrate these factors into their investment process. Evidence supporting the relevance of this type of information for investors continues to grow — see, for example, [...]
‘We believe gold has entered a new bull market. Here are four reasons why’ August 23, 2017 Despite significant US dollar weakness, gold price performance has been muted recently. It has been held back by factors such as a rebound in real interest rates and increased stability in the Chinese yuan, which has dampened near-term investment demand for gold in China. But these are short-term factors, which do not change our view [...]
Lloyd’s of London’s software provider Sequel sold for £250m by private equity backer HgCapital to US-listed Verisk August 22, 2017 Sequel, an insurance software and services provider which serves Lloyd’s of London, has been sold for £250m to US data analytics business Verisk. The sale will have generated a strong return for private equity firm HgCapital, which bought a stake in the business three years ago through its technology-focused Mercury I fund. Mercury I has [...]
The City must prepare for an £135bn per year Brexit boost August 21, 2017 IN 1553, London merchants funded a naval expedition to China via the North East passage. It got trapped in the ice in Russia’s White Sea and was forced to travel overland to Moscow where Ivan the Terrible granted it exclusive trading rights. The group returned to London to set up the Muscovy Company. This became [...]
The gender retirement gap: Why women are more likely to fall into poverty in retirement August 14, 2017 “The retirement issue is the single largest issue we will be facing in the 21st century.” Diane Garnick told participants at the 2017 CFA Institute Wealth Management Conference in Nashville, Tennessee, USA that “when people do not save for retirement, they are in big trouble.” Advisers must be ready to address these concerns. “The big [...]
Legal & General eyes £10bn Prudential annuity back-book as part of sector dominance push August 13, 2017 Legal & General is ready to pounce on Prudential’s £10bn annuity business, as the FTSE 100 insurer splashes the cash on pension back-books. On Thursday, Prudential announced plans to merge its UK fund management and life insurance arms, forming M&G Prudential. The announcement came as part of yet another quarter of double-digit growth in Prudential’s [...]
M&G Prudential is born: Insurer to merge insurance and asset management arms August 10, 2017 Prudential is to merge its UK and Europe asset management and insurance arms, forming M&G Prudential, the FTSE 100 group announced this morning. The combined business will manage some £332bn of assets for over 6m customers. Prudential chief executive Mike Wells said the two businesses “have a long history of collaboration and we are fortunate [...]
UK startup BenevolentAI is embarking on major expansion in the US, opening a New York office August 9, 2017 One of the UK’s most promising artificial intelligence startups is expanding its business into the US as part of ambitious expansion plans. BenevolentAI, whose technology helped researchers find a drug treatment which could delay the onset of motor neuron disease, is opening a new office in New York and has hired a former Google scientist [...]
Kanye West sues Lloyd’s of London insurers including Lancashire for $10m over cancelled tour August 2, 2017 We ain’t saying he’s a gold digger, but US rapper Kanye West has just filed a $10m (£7.6m) lawsuit against Lloyd’s of London insurers in a dispute over 21 cancelled tour dates last year. The pop star and his tour company, Very Good Touring, claim insurers may not pay out because the cancellations were as [...]