Passporting
European firms have until 30 October to secure no-deal Brexit permits
European firms passporting into the UK need to notify the Financial Conduct Authority that they wish to enter the temporary permissions regime by 30 October in order to ensure they are able to continue operating in the event of no-deal Brexit, the…
Top 100 UK Insurers 2019
The 100 largest UK-regulated insurers, ranked by non-life gross premium written, reported a combined underwriting profit in 2018, compared to a loss in 2017. Catherine Thomas, senior director of analytics in London at AM Best, explains how they achieved…
Interview: Steven Wallace, McLarens
Newly appointed managing director for UK & Ireland Steven Wallace discusses expansion plans, consolidation within the market and Brexit
Financial services Brexit bill approaches £4bn as preparations slow
Major financial services firms had spent nearly £4bn preparing for life after Brexit as of 31 May, according to EY.
Analysis: Consolidators look to Europe for acquisitions as UK competition grows
The UK has seen a wave of consolidation in regional broking over the past few years, making competition for viable targets a challenge. In response, several consolidators are starting to look to Ireland and Europe as a potential area of expansion.
German lawmakers give regulator power to extend passporting for 21 months
Germany has adopted preliminary provisions, which could see the passporting rights of UK financial institutions, including insurers, temporarily extended in the event of a no-deal Brexit.
UK inks insurance free trade deal with Switzerland
Insurance sectors in the UK and Switzerland will continue trading freely with one another after Brexit, following a trade agreement signed at the World Economic Forum in Davos yesterday.
Irish broker Arachas mulls post-Brexit UK broker partnerships
Irish broker Arachas is considering reaching out to UK partners to overcome potential passporting barriers in a post-Brexit world.
Month in Post: Do insurers dream of Brexit?
We may not have flying cars, humanoid robots and exaggerated shoulder pads, but there is every reason to believe that the 2019 predicted by 80s film Blade Runner, looks very slightly dystopian.
Interview: David Rule, Prudential Regulation Authority
With Brexit, increased scrutiny over reserves, climate change and emerging risks on the ‘watch’ list for 2019 The Prudential Regulation Authority certainly has a lot on its plate. Its executive director for insurance, David Rule spoke to Stephanie Denton…
ABI criticises European Commission's plans for no-deal Brexit
The Association of British Insurers has criticised the European Commission for failing to make contingency plans that would allow UK insurers to fulfil contracts with EU policyholders in the case of a no-deal Brexit.
Analysis: Review of 2018
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
Analysis: Insuring for Brexit
How can insurers help customers facing Brexit uncertainly when they themselves face taking a blind bet on whether the UK will face a hard or soft deal when leaving the European Union? David Worsfold investigates.
Dual pricing: Interview: Jonathan Davidson, Financial Conduct Authority
Insurance has come under fire for the way it prices policies. Jonathan Davidson, director of retail at the Financial Conduct Authority, discusses the problem with Martin Croucher
Markerstudy picks up 10,700 policies from collapsed Alpha
The Financial Services Compensation Scheme has signed off on a deal that will see 10,700 customers of failed Danish insurer Alpha have their policies moved to Markerstudy.
Top 100 UK insurers 2018
In 2017, the combined underwriting results of the largest 100 UK non-life insurers improved but remained in the red. How well did insurers perform under pressure from strong competition and unfavourable claims trends?
ABI calls for regulatory certainty as no-deal Brexit advice published by government
A regulatory deal is urgently needed to address Brexit contract issues for the insurance sector, the Association of British Insurers has said.
Ageas' Andy Watson on pushing for a realistic Brexit plan
Insurers need to keep pushing their priorities now for an effective Brexit plan, writes Andy Watson, CEO of Ageas UK, urging the industry to work with the government to achieve a realistic negotiating strategy.
Interview: Jonathan Davidson, Financial Conduct Authority
Insurance has come under fire for the way it prices policies. Jonathan Davidson, director of retail at the Financial Conduct Authority, discusses the problem with Martin Croucher
Post-Brexit clause could minimise claims disruption
The International Underwriting Association has published a Brexit contract continuity clause, to tackle claims disruption that could occur with an end to passporting post-Brexit.
Analysis: Has the industry learned its lesson after the collapse of a third unrated insurer in two years?
After three months of solvent run-off, Danish insurer Alpha finally fell over last month. Its collapse sent shockwaves through the market and prompted black cab drivers to besiege the offices of their London broker.
QBE Brussels subsidiary granted regulatory approval
QBE Europe has received approval from the National Bank of Belgium to set up a subsidiary in Brussels.
Brokers must analyse customers' exposure to Brexit
A panel of experts has told brokers at the British Insurance Brokers' Association annual conference that they need to be preparing for the UK's exit from the European Union and analysing their customers’ exposure.