Legal & General Group Plc led a rebound in the benchmark FTSE 100 Index after the British insurer showed that its capital buffers have withstood an initial fallout from the U.K.’s unexpected decision to leave the European Union. The insurer gained as much 10 percent in London after losing more than 4 billion pounds ($5.3 […]

Sompo Canopius and Mexican insurer Grupo Nacional Provincial (GNP) have launched a strategic partnership that will see the Lloyd’s carrier underwrite specialist Mexican business. The partnership will capitalise on GNP’s position as a leading domestic insurer in Mexico to bring Sompo Canopius’ specialist underwriting expertise to the market, the firms said in a statement today […]

Legal & General (L&G) has appointed a former senior civil servant at the Treasury as its new chairman. John Kingman was previously second permanent secretary of the Treasury. He stepped down from this position in April. Earlier this month the Sunday Times reported Kingman was the frontrunner for the role, which includes an annual salary of £340,000. L&G has […]

Old Mutual has confirmed it plans to separately float Old Mutual Wealth on the London stock exchange. The company announced plans to separate its four divisions in March. This included its UK-based wealth division, which is made up of advice network Intrinsic, discretionary fund manager Quilter Cheviot, asset manager Old Mutual Global Investors and the Old Mutual […]

A crisis in financial markets normally equals a crisis in the insurance industry. Insurers have done plenty to defend themselves against the Brexit storm, but they are entering an environment where having enough capital will come a distant second to having a lot more than enough.   The companies’ problem is that they are big investors […]

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s Brexit vote. S&P said the the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”. Rival agency Fitch lowered its rating from AA+ to AA, forecasting an “abrupt slowdown” in […]

Lloyd’s, the insurance market, is likely to be an early loser from the UK’s vote to leave the EU, as the insurers that use its London hub prepare to shift some of their operations out of the country. London is a global centre for specialist commercial insurance such as marine and aviation, and much of the […]

Shares in London-listed insurance firms have taken another tumble today as analysts try to judge the damage that Brexit could inflict on their customer base and investment portfolios. Insurance firms, while suffering less than the British banks in the aftermath of the referendum, are exposed to the global financial markets through their investments and generate sales that are […]

Insurance group Aviva is one of the many casualties of the Brexit vote, down nearly 16% on Friday and off another 4% now. With its shares down 16.5p to 358.3p so far on Monday, Aviva has issued an update saying the decision to leave the European Union would not have a major effect on its operations. It said: Aviva’s […]

Aviva has announced Brexit will have no significant operational impact on the company, having conducted extensive analysis of the possible implications of a vote to leave the European Union. The firm – which saw a large fall in its share price following the vote to leave – stated despite recent market volatility following the outcome […]