Latest London Headlines

All the headlines from our London Topic Page, ordered by recency.

AIG to Buy Bermuda Reinsurer Validus for $5.6B in Cash, Reversing Retrenchment

Jan 22 2018 // Eight months after Chief Executive Officer Brian Duperreault took over and began to undo his predecessor’s retrenchment strategy, the company announced a $5.56 billion, all-cash deal to purchase Bermuda reinsurer...

London Market’s Priorities in 2018 Are Regulation, Brexit, Modernization: IUA

Jan 22 2018 // Regulatory developments, such as the EU’s new data protection law, will dominate priorities for the London company insurance market in 2018, according to the International Underwriting Association in its annual...

Luxembourg Sees No Reason to Change EU ‘Delegation’ Rules After Brexit

Jan 22 2018 // Luxembourg’s finance minister Pierre Gramegna said on Friday the European Commission should stick to the current rules that allow funds managed in London to be domiciled and regulated in another country.His comments...

London’s Brexit-Related Job Losses Will Be Fewer Than 1st Feared: Policy Chief

Jan 19 2018 // Britain’s vast financial services industry will suffer far fewer job losses from Brexit than first feared, the City of London’s policy chief told Reuters, in remarks that will boost supporters of leaving the EU...

EU Will Reap Benefits of London Staying Strong Financial Hub After Brexit: Opinion

Jan 17 2018 // Last week, the U.K. government asked German business leaders for help in securing a good deal with the European Union on financial services. The request deserves to be taken seriously. Europe’s businesses have much...

AGCS Names Vissing to Succeed Henson as Head of Claims, Regional Unit London

Jan 16 2018 // Allianz Global Corporate & Specialty (AGCS), Allianz Group’s specialist corporate insurer, has appointed Lars Vissing as Regional Unit London (RUL), head of Claims, starting in February 2018.Vissing succeeds...

Failure to Agree on Brexit Deal Could Jeopardize 500,000 UK Jobs: Study

Jan 11 2018 // What would happen if the U.K. leaves the European Union in March 2019 with no deal on the single market, customs union or transition arrangements? London Mayor Sadiq Khan commissioned a study and the answer was half a...

Qatar Re Authorized by UK Regulator to Underwrite from London Branch Office

Jan 11 2018 // Qatar Reinsurance Co. Ltd. announced it has received authorization from the UK Prudential Regulation Authority to underwrite business from its branch office in London.Michael van der Straaten will lead the branch, in...

UK Prime Minister to Meet Finance Heads to Discuss Brexit’s Threat to London

Jan 10 2018 // Britain’s Prime Minister Theresa May will meet executives from major finance companies on Thursday to give them a clearer idea of what Britain’s European Union exit will mean for them.There are concerns that...

UK Names Former Accenture Exec to Oversee London Financial Services Industry

Jan 10 2018 // Prime Minister Theresa May has appointed a former management consultant John Glen as the new City minister to oversee a financial services sector facing upheaval as Britain prepares to leave the European Union.Glen, whose...

London’s Brexit-Related Job Losses May Not Be as High as Initially Feared

Jan 8 2018 // British banking, insurance and asset management job losses to the European Union due to Brexit might not be as heavy as initially feared, the City of London financial district said on Monday.Jeremy Browne, the city’s...

Beazley Names Moy to New U.S. Marine Insurance Underwriting Team

Jan 4 2018 // Specialty insurer Beazley has appointed John Moy as U.S. marine insurance underwriter within its newly- launched U.S. marine platform.Moy will be responsible for underwriting and building the company’s U.S. hull,...

Top Insurance Journal International Stories of 2017

Dec 29 2017 // Blockchain, cyber, mergers and acquisitions and London’s devastating Grenfell Tower fire are just some of the topics that dominate the most popular articles in Insurance Journal’s International section during...

Ed Appoints Clarkson from Aon as Managing Director – Marine

Dec 27 2017 // Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of Heather Clarkson as managing director – Marine. She takes up her role on Jan. 2, 2018 and will report to Andrew Draycott,...

Factbox: Growing List of Insurers Make Brexit Plans for EU Subsidiaries

Dec 20 2017 // Below are insurers’ plans for EU subsidiaries (in alphabetical order) in case Britain does not have access to the single market after Brexit:ADMIRAL. British motor insurer Admiral Group said last year that it could...

Same Builders Win Deals to Replace Unsafe Grenfell Tower Type Cladding

Dec 18 2017 // Some building companies that installed dangerous cladding on social housing blocks across Britain are now winning new contracts following the Grenfell Tower blaze to remove their original work and install panels that can...

Fidelis Takes Equity Stake in New MGA Firestone Surety

Dec 15 2017 // Fidelis Insurance announced it has taken an equity stake in a new managing general agent (MGA) Firestone Surety Ltd., and will provide underwriting capacity.Details about the amount of Fidelis’ investment and...

Deadly London Tower Fire Sparks Development in U.S. of Safety Evaluation Tool

Dec 15 2017 // Six months after flames engulfed a London high-rise and sparked concerns about similarly-clad buildings around the world, a U.S.-based fire prevention group has developed a tool aimed at making buildings safer.The National...

London Police Eye Criminal Charges Related to Grenfell Tower Disaster

Dec 14 2017 // London police are considering a variety of criminal charges related to the June fire at Grenfell Tower that killed 71 people.Police told an inquiry Monday [Dec. 11] that the possible charges include misconduct in public...

Factbox: More Insurers Make Decisions About Post-Brexit Headquarters

Dec 13 2017 // Liberty Specialty Markets said it planned to redomicile its UK insurance company to Luxembourg, as a result of Britain’s decision to leave the European Union.Below are insurers’ plans for EU subsidiaries (in...