Focus on US not emerging markets, LMA chair tells Lloyd’s

Focus on US not emerging markets, LMA chair tells Lloyd’s

Focus on US not emerging markets, LMA chair tells Lloyd’s

Lloyd’s should focus on the US rather than emerging economies, according to Andrew Brooks, the incoming chair of the Lloyd’s Market Association, reported in the Financial Times. Mr Brook told the Financial Times that Lloyd’s should be making bigger efforts in the US: “By focusing on those developing countries so heavily, we’ve lost traction in our key market of North…

Automatic enrolment – a pensions success, backed by increasing enforcement

Automatic enrolment – a pensions success, backed by increasing enforcement

Automatic enrolment – a pensions success, backed by increasing enforcement

In the UK, automatic enrolment into pension schemes started in October 2012. Phased in for five years, all employers must ensure that their workers/employees – aged between 22 and state pension age and earning more than £10,000 a year – are now enrolled into a suitable pension scheme. Even though it has been declared a success, as with all legal…

AXA moving international risk and reinsurance ops to Ireland

AXA moving international risk and reinsurance ops to Ireland

AXA moving international risk and reinsurance ops to Ireland

AXA’s international risk and reinsurance operations will move from the UK to Ireland ahead of Brexit, according to Reuters. AXA chief executive Thomas Buberl reportedly told press that its Irish subsidiary will underwrite European large risks and reinsurance. Staff from London, where the business is currently written, and France will be moved to the Irish subsidiary to comply with regulatory…

Gatwick meltdown: drones in a no-go zone

Gatwick meltdown: drones in a no-go zone

Gatwick meltdown: drones in a no-go zone

The serious and extended closure of Gatwick Airport in the run-up to Christmas, because of the suspected deliberate use of a drone infringing the airport airspace, has brought to a head the warnings of many in the industry. This issue was further highlighted just this week as a reported drone at Heathrow caused the UK’s busiest airport to suspend departures…

Arch completes UK commercial lines acquisition

Arch completes UK commercial lines acquisition

Arch completes UK commercial lines acquisition

Arch Insurance Europe has completed the acquisition of the UK commercial lines business owned by The Ardonagh Group and part of its Geo Underwriting operating segment. The acquired business will become the newly formed Arch UK regional division. Arch said the move forms part of its strategy to grow its regional UK presence and the division will have a meaningful…

Brexit and cyber risks knock UK manufacturers’ confidence

Brexit and cyber risks knock UK manufacturers’ confidence

Brexit and cyber risks knock UK manufacturers’ confidence

Brexit risks have dented UK manufacturers’ confidence going into 2019, with 72% naming it the biggest source of uncertainty in the latest EEF/AIG survey. Cyber risk topped the list of non-Brexit threats. Also concerned about protectionism and a global slowdown, UK manufacturers are more pessimistic about business prospects in 2019 than last year. Exchange rate volatility topped the list of…

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