Bank of America Merrill Lynch is looking for new space in the City despite Brexit uncertainty February 5, 2017 Bank of America Merrill Lynch (BAML) has started its search for new office space despite the uncertainty of the City of London's future following the Brexit vote. The US banking giant is currently located near St Paul's Cathedral, but as its lease expires in 2022, the bank has started looking at other buildings that could [...]
Profits slump for insurance market Lloyd’s of London despite growth in gross written premiums, as chief executive Inga Beale speaks out about terrorism March 23, 2016 Insurance market Lloyd's of London today announced that its profits had dipped slightly during 2015, although it had increased its gross written premiums. Lloyd's revealed pre-tax profits of £2.1bn, down compared with £3bn the year before, although the company said that it felt its profits remained significant despite a fall in returns on investments and increased [...]
Paul Drechsler pledges to use Brexit as opportunity for business as he swaps CBI for London First May 25, 2018 The Confederation of British Industry president Paul Drechsler is to become chairman of lobby group London First, pledging to use Brexit as an opportunity to improve the environment for the capital’s businesses and residents. Drechsler will take on the reins on 1 July, after his three-year term at the CBI concludes. He is taking over [...]
Workers at this City stalwart have been banned from drinking during the day February 14, 2017 Looks like it's going to be dry January all year long for the boozers at Lloyd's of London. City workers at the historic institution have been banned from drinking during the day because alcohol has caused so may disciplinary cases, according to the Evening Standard. Lloyd's, known for its world-class work in insurance, now has [...]
Investment bank Nomura gets German licence for post-Brexit Frankfurt base June 1, 2018 Japanese investment bank Nomura said today it had been granted a licence by German regulators for its new post-Brexit Frankfurt base. Nomura confirmed it had received a licence from German financial regulator BaFin for its new Frankfurt subsidiary. The bank said in a statement: “Nomura’s plans are well advanced and the license is a major [...]
Lloyds Banking Group eyes Berlin for new EU base post-Brexit February 13, 2017 Lloyds Banking Group is closing in on Berlin as its new EU hub post-Brexit. It was reported last December that the bank, which is the only major UK retail lender without a subsidiary in another EU country, was looking into establishing a base in either the Netherlands or Germany to make sure it still had access [...]
UK exit from the EU would damage our insurance market, says Lloyd’s of London February 10, 2016 A Brexit would damage London’s £30bn insurance market, Lloyd’s of London has claimed. Sean McGovern, chief risk officer and general counsel at Lloyd’s, said today that “exiting the EU will create a level of uncertainty, for Lloyd’s, for the London market, as well as the UK and European economies, we have rarely experienced”. London’s insurance [...]
AIG’s share price Trump bump halted by worse than expected losses February 15, 2017 Insurance giant AIG reported a worse than expected quarterly loss of $3bn after having to ramp up reserves to cover possible claims against commercial policies it has already written. The group said it had set aside an additional $5.6bn in its fourth quarter trading statement, published overnight. AIG also revealed plans for a $3.5bn share [...]
Revealed: The 15 best employers in Britain for work-life balance, as rated by staff June 7, 2018 Dealing with millions of busy commuters might not sound like the dream job, but according to a new study workers at Transport for London (TfL) are the most content with their work-life balance. The rankings, compiled by job site Indeed, showed that TfL had a better “staff first” mentality than any other company in the [...]
Insurance tech startup Lemonade backed by reinsurers Lloyd’s of London, Berkshire Hathaway’s National Indemnity, Hiscox and more February 9, 2016 A soon-to-launch tech startup with millions in venture capital investment and plans to disrupt the insurance industry has been backed by leading insurers Lloyd's of London and Berkshire Hathaway's National Indemnity. Lemonade, a New York-based peer-to-peer insurance firm which recently picked up $13m from Sequoia Capital among others, will be reinsured by the firms, along with Hiscox, Everest, Munich, Transatlantic and [...]