Willis Towers Watson (WTW) has appointed Colin Forrest to lead its life team in the UK. Based in London, WTW said Forrest will work to ensure life insurers have access to bespoke products and services as the sector continues to face a volatile risk environment. Forrest has 25 years of industry experience and joins from […]
ACCA Chief’s outlook on the future of accountancy
The discovery that a computer error may have caused the sterling “flash crash” last week probably raised wry smiles in board-rooms around the world. The flurry of panicked headlines caused by Theresa May implying that Britain was heading towards hard Brexit apparently tricked trading algorithms into rapid selling of the currency. A meltdown triggered by an overload […]
Old Mutual Wealth saw net inflows fall 60% to £900m in Q3 of 2016
Old Mutual Wealth saw net inflows fall 60% to £900 million in the third quarter of 2016, as its parent company reiterated its intention to float the UK-based business by 2018. Last month a Bloomberg report suggested that Old Mutual plc would sell Old Mutual Wealth rather than list it separately on the London Stock Exchange, due to concerns about […]
Are MetLife considering expansion into Ireland?
MetLife Inc., the U.S. insurer, is close to finalizing a decision to expand its operations in Ireland, according to a person familiar with the matter. New York-based MetLife may announce its plan to grow its Irish presence within the next month, said the person, who asked not to be named as no final decision has […]
Former BoE governor says the fall in the value of the pound is a ‘welcome change’
Former Bank of England governor Mervyn King has said the fall in the value of the pound since the EU referendum is a ‘welcome change’ for the UK economy. The value of the pound has fallen to its lowest level against the dollar since 1985 as traders bet against the currency following the vote to […]
The no. #1 insurance brand in the world with a brand value growth of 14%
Mirror, mirror on the wall, which is the leading global insurance brand of them all? If you’re an AXA employee then the latest Interbrand Best Global Brands ranking will certainly have felt like a fairytale come true – because the French insurance giant has taken the number one spot for an eighth successive year. In the overall […]
Lloyd’s of London insurer Endurance Specialty has been bought by Japan’s Sompo
Lloyd’s insurer Endurance Specialty has been bought by Japan’s third largest insurance company in a deal worth $6.3bn (£5.0bn). Sompo, which has a market capitalisation of £9.4bn, has agreed to buy Endurance Specialty shares for $93 each, a value that is around 40 per cent higher than the average trading price New York-listed company over […]
Are enough British firms investing in cyber insurance policies?
The number of British firms insured against cyber threats has fallen sharply in the past year even though many doubled their security budgets after some high-profile companies suffered attacks, a survey by PwC showed on Wednesday. The auditing and corporate advisory firm said companies were reluctant to invest in cyber insurance because they viewed products […]
Aviva UK chief Andy Briggs made gov’t business champion for older workers
The government has tasked Andy Briggs, chief executive of Aviva UK and Ireland Life, to be business champion for older workers. According to Damian Green, Work and Pensions secretary, Mr Briggs will encourage other chief executives to recruit older workers; explaining the advantages they bring to his own firm. Speaking at the Conservative Party Conference […]
How do London’s younger finance workers think Brexit will affect their futures?
At the Glastonbury music festival this summer, one act stole the show: Brexit. Thousands of young festival-goers reacted with horror as news filtered through that Britain had decided to exit the EU. Two-thirds of people over 65 voted Leave while nearly three quarters of 18 to 24-year-olds backed Remain, many of whom have made their […]