Europe
S&P warns on offshore reinsurers using hedge fund strategies
Ratings agency Standard & Poor's is concerned there could be "carcasses on the side of the road" for offshore reinsurers using hedge fund strategies.
Arthur J Gallagher acquires 85% of Brim AB
Arthur J Gallagher has acquired an 85% stake in Swedish specialist insurance and reinsurance broker Brim AB.
Brexit will provide opportunities for insurers in Malta and UK, Building Block Insurance say
The historic relationship between Malta and the UK will provide opportunities for insurance businesses following Brexit, Maltese insurer Building Block has said.
Editor's comment: Insurers have a major part to play
Speaking to Association of British Insurers’ members at his outgoing dinner last month, chairman Paul Evans said the organisation had never been “more relevant to its members” and “the work, focus and voice of the ABI is directed by its members, for its…
Government to cut corporation tax to 15% following Brexit
The government will cut corporation tax to 15% in order to persuade businesses to remain in the country following the Brexit vote.
Gable requests suspension from stock market
Unrated insurer Gable has requested temporary suspension from the AIM stock market until the publication of its annual report.
Markerstudy meets Gibraltar regulator over Brexit concerns
Markerstudy has met with the Gibraltar Financial Services Commission to discuss the implications of a Brexit.
Consumers call on insurance providers to simplify digital self-service
Consumers want insurance providers to make digital self-service easier, research from BT and Avaya has revealed.
Europe: Motor tops complaints and Rosgosstrakh tops the rankings for fines in Russia
The prospects of the insurance market don't look bright in Russia, where dissatisfaction with motor policies is growing, Rosgosstrakh is topping the national fines ranking, and the Central Bank has expressed concerned over the quality of assets of one in…
Brexit provides opportunity to overturn ‘dreadful’ Solvency II
Leaving the EU will mean that the UK can abandon the “absolutely dreadful” Solvency II regime, the former head of the civil service told MPs.
Helvetia names new CEO as Stefan Loacker steps down
Helvetia Group CEO Stefan Loacker is stepping down after nine years in the position.
MGA looking to redomicile to Ireland following Brexit vote
A Kent-based intermediary has said “all options are open” following a Brexit vote, as its parent company CBL Insurance said the firm could redomicile to Dublin.
Aviva upgraded after insurer moves to quell investor concerns post Brexit vote
Investment adviser Macquarie has lowered its price target for Aviva to 442p from 502p and upgraded the stock to 'outperform' from 'neutral' following the UK’s vote to leave the EU last week.
New passporting agreement with EU ‘will be straightforward’
Brexit will have little impact on the financial services sector and a workable agreement with the European Union will be “straightforward”, according to Managing Partners Group.
XL Group to redomicile to Bermuda from Ireland
XL ordinary shareholders have approved a scheme of arrangement that will change the place of incorporation of the parent holding company to Bermuda from Ireland.
Blog: Brexit - How much preparation has gone on behind the scenes?
Post made hay with a Freedom of Information request earlier this month, which revealed that the industry’s two main regulators had not carried out a formal review of the regulatory and financial impact of a Brexit.
Markerstudy refuses to be drawn on job cut threat
Markerstudy has refused to add anything further to an earlier communication to staff that a Brexit vote "could potentially mean large job losses".
Brexit: Gender directive too costly too reverse claims AA
The prospect of gender equality for motor insurance being overturned has been raised and dismissed in the wake of UK voters electing to leave the European Union.
FCA says regulatory framework is still binding – for now
The Financial Conduct Authority has said that EU regulation related to financial services will remain in place “until any changes are made”.
Pound drops to lowest point since 1985 as UK votes to leave EU
The UK has voted to leave the European Union by 52% to 48% after 43 years in an historic referendum.
Liberty to make 70 redundancies in Ireland
Liberty Insurance is realigning its commercial insurance and back office functions in Ireland with an expected 70 redundancies as a result.
AGCS strengthens global aviation team
Allianz Global Corporate and Specialty has strengthened its global aviation team with three senior appointments.
Live: Brexit - the impact of the EU referendum on insurance
Britain has decided to leave the European Union - find all the latest reactions here.
Axa UK can meet global COR targets says CEO Amanda Blanc
Axa's UK CEO Amanda Blanc believes that the business is on target to meet the ambitious improved targets for group-wide combined operating ratio set out as part of its new four year strategic plan yesterday.