COVID-19 impacts UK manufacturers supply chain for Brexit: Lockton
Insurance broker Lockton has released a report exploring how the COVID-19 pandemic has impacted the preparations for 500 different UK manufacturers. In its survey, 46% had said that their supply chain...
View ArticleNo deal Brexit shock has diminished, but insurers still at risk: Deutsche Bank
Analysts at Deutsche Bank have warned that insurers still face a negative impact to their solvency ratios in the event of a no-deal Brexit outcome, even though the potential shock of this scenario has...
View ArticleArch approved for Part VII transfer ahead of Brexit
Arch Insurance (UK) Limited has received approval for a Part VII transfer of insurance business conducted in any state within the European Economic Area (EEA). By transferring business carried out by...
View ArticleABI says post-brexit reforms to financial regulations could release £95bn
A new report commissioned by the Association of British Insurers published in response to the Government’s consultation on Solvency II shows how changes made to the Matching Adjustment and the Risk...
View ArticlePRA sees no appetite to tear up the basic principles of Solvency II
Sam Woods, Chief Executive Officer of the Prudential Regulation Authority, sees no appetite to tear up the basic principles of Solvency II given the huge investment made in their adoption. The PRA had...
View ArticleBrexit to drive expansion of European specialty MGAs: New Dawn Risk’s Grima
Uncertainties driven by the UK’s vote to leave the European Union (EU) saw numerous intermediaries establish offices in the EU and according to Elizabeth Grima, Senior Executive Manager of New Dawn...
View ArticleBrexit threatening London Market’s influence in the insurance industry: Airmic
Airmic, the UK association for risk and insurance professionals has said that Brexit is threatening the London Markets influence in the global industry. This was reported in the company’s March 2022...
View ArticleInflation likely to persist over the medium term: AM Best
According to rating agency AM Best, high levels of inflation which has been driven by supply chain disruptions, labour shortages and rising energy prices, are likely to persist over the medium term. In...
View ArticleUK insurers will remain well capitalised under SII reforms – Moody’s
UK insurers’ solvency will remain robust under proposed post-Brexit regulatory reforms. The proposals, subject to consultation until 21 July 2022, seek to amend the European Union’s Solvency II...
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