Towergate to merge with four UK insurance firms, Autonet, Chase Templeton, Ryan Direct and Price Forbes, forming an “independent market leader” May 9, 2017 Insurance firm Towergate is to join forces with four other firms in a shake-up of the UK insurance sector. US private groups HPS and Madison Dearborn (MDP) will merge the firms they already own into one company. Autonet, Chase Templeton, Ryan Direct and Price Forbes will join Towergate. Read more: City watchdog fines Towergate and [...]
Two-thirds of workers feel unsupported by managers over mental health issues as the City ramps up its efforts to improve | City A.M. May 8, 2017 More than 150 City firms spanning banks, professional services companies and law firms, are teaming up to try and change how mental health in the workplace is dealt with. Thousands of staff in the City of London, and across the UK, will wear green ribbons as part of a campaign, inspired by PwC’s Green Light [...]
The Financial Conduct Authority just spent £70,000 on a new logo, including hiring a Saatchi & Saatchi agency May 7, 2017 The industry-funded Financial Conduct Authority has spent almost £70,000 on a refresh of its brand, including a brand new logo designed by Saatchi & Saatchi, City A.M. can reveal. The FCA recruited B2B specialists Saatchi & Saatchi Pro ahead of its planned move from Canary Wharf to the edge of the Queen Elizabeth Olympic Park [...]
Six things we learned from Warren Buffett after Berkshire Hathaway’s annual meeting: From AI and driverless cars to what happens if the sage of Omaha dies May 7, 2017 The sage of Omaha Warren Buffett took to the stage at the Berkshire Hathaway annual general meeting along with right hand man Charlie Munger. And the ever straight talking star investor did exactly that, discussing how he missed out on some of the biggest tech bets in recent years and what happens when he’s no [...]
How to make Brexit the insurance industry’s next big opportunity May 5, 2017 Singapore, Qatar, Dubai and Bermuda. Forget worrying about British-based businesses moving to EU capitals – these are the jurisdictions with which we must compete if our vital insurance industry is to thrive. Over the next two years, there is a risk that so much energy will be expended on Brexit negotiations that we will neglect [...]
Automation and AI are going to make many jobs redundant: Here’s how to stop a robot taking your job April 25, 2017 The power of technology to create upheaval in the global job market has never been felt more acutely. The accompanying anxiety that increasingly intelligent machines will eliminate jobs across practically every sector continues to fuel conversations among employees that the future is uncertain. The move towards smart cities and smart workforces is already in motion: [...]
General Election 2017: Delivering Brexit isn’t enough: The Tories need a pro-growth vision for Britain April 25, 2017 The 8 June General Election is being viewed through the prism of Brexit. In one fell swoop, it is said that Theresa May can quash holdout Remainers, manage her party’s competing visions of Brexit, and improve her Brussels negotiating strength. Add to that giving herself until 2022 to implement a deal before fresh elections, and [...]
Financial and professional services industry contributes £176bn to the UK economy April 25, 2017 Financial and related professional services workers contribute 1.5 times more to the economy than the average UK employee, a new report today reveals. Financial services employees contribute £79,500 gross value added (GVA), above the average of £52,000 across other sectors. A report from TheCityUK today also reveals that the industry makes up 10.7 per cent [...]
City watchdog FCA launches investigation into five major insurance brokers April 21, 2017 The Financial Conduct Authority has place five City aviation insurance brokers under investigation over alleged misuse of client information. The watchdog seized computers from five firms, including Aon, JLT, Marsh and Willis Towers Watson, according to a report in the Insurance Insider. The regulator is said to be investigating accusations that the firms in question [...]
Theresa May’s snap General Election is good news for Brexit and the United Kingdom by calling the SNP’s bluff and destroying Jeremy Corbyn’s Labour April 19, 2017 The Prime Minister’s gambit of calling an early General Election is an audacious move not without risk. But if she not only wins but wins well, it should mean a significant change in how the UK looks by the mid-2020s. Theresa May certainly caught everyone by surprise yesterday when she stood in Downing Street and [...]