Mondelez International takes out sweet £1m insurance policy for one of its chocolate tasting-scientists September 6, 2016 Mondelez International has taken niche insurance to a whole new level after it insured the taste buds of one of its chocolate scientists for £1m with Lloyd's of London. Hayleigh Curtis works as part of Cadbury's innovation team at Mondelez's Global Centre of Chocolate Excellence, based in Bournville, the birthplace of Cadbury chocolate. The specialist chocolate team [...]
Insurtech investment in the UK has tripled September 6, 2016 Investment in the insurance technology sector – part of London's world leading fintech scene – is booming. More than $22m (£16.5m) has been ploughed into insurtech so far this year – nearly triple the amount invested in the whole of last year and faster growth than any other country in the world. The research from Accenture and CB Insights, [...]
Leave the buy to let market alone, Britain needs more landlords September 6, 2016 Twenty years since buy to let took off, landlords are now a crucial part of Britain’s housing ecosystem. The private rented sector, accounting for around one in five properties, provides much-needed homes for those people who are not ready to buy or do not want to purchase a property. However, the sector sometimes comes in for stick, [...]
Lloyd’s chair John Nelson has issued a warning to Theresa May, demanding a cohesive government approach to Brexit September 5, 2016 The chairman of Lloyd's of London has issued a warning to Theresa May over Brexit, demanding a cohesive government approach. Speaking at the Lloyd's City Dinner tonight, John Nelson said: "If we are not able to access the single market, either through passporting rights or other means, the inevitable consequences for Lloyd's – and indeed other [...]
This satellite firm wants millions from SpaceX after rocket explosion September 5, 2016 It's not great when your experimental rocket ship explodes. It's even less great when said rocket is carrying some rather expensive equipment. The owner of the satellite on board the SpaceX Falcon-9 rocket which was last week destroyed by an unexpected and fiery explosion has now demanded $50m (£38m) from Elon Musk's company – or a free ride [...]
Lloyd’s of London’s chairman says business will leave the City if it doesn’t get passporting rights post-Brexit September 5, 2016 London's status as a global insurance leader is at risk in the wake of the Brexit vote, according to Lloyd's of London boss John Nelson. Nelson, chairman of the specialist insurance market, told the BBC's Today programme this morning that the company will have to move business out of the City if it is not given guarantees [...]
Northzone raises €300m fund and is eyeing London fintech startups September 5, 2016 A European venture capital firm which has previously backed Spotify, iZettle and London fintech startup MarketInvoice, has launched a new multi-million pound fund to plough into tech startups across Europe, including the UK in another vote of confidence in the country after Brexit. Northzone has closed a €300m (£252m) fund to invest in early stage companies from global institutional investors and is eyeing up tech [...]
The chancellor’s fiscal reset is a golden opportunity to slash living costs through tax cuts and planning reform September 5, 2016 Philip Hammond recently said that he may use the Autumn Statement to “reset” fiscal policy. That is a welcome sentiment because it suggests the chancellor sees before him a golden opportunity to transform the tax system. With Parliament returning, we are likely to see the government start to formulate and publicise more detailed economic policy [...]
Sadiq Khan will tonight vow to push Theresa May for “creative” solutions to secure Single Market access September 5, 2016 London mayor Sadiq Khan will tonight vow to push Theresa May's government for “creative” solutions to secure Single Market access for the UK's financial services sector. Speaking to an audience of City bigwigs at the annual Lloyd's of London City dinner, Khan is expected to name protecting the financial services sector as the number one priority in [...]
Balfour Beatty exec lined up to sweeten National Grid bid September 4, 2016 The chairman of Britain's biggest construction company is being lined up to sweeten a bid for National Grid's network of gas pipes which could be worth up to £10bn. The Sunday Times reported that the group of Canadian, British and Middle Eastern investors approached industry veteran and Balfour Beatty chairman Philip Aiken to lead the bid, as the competition heats [...]