The Lloyd’s Market Association (LMA) has welcomed today’s announcement from the Ministry of Justice about provisions included in the Prisons and Courts Bill in relation to the reform of whiplash claims.
International legal business DWF has warned that insurers writing business in Scotland are likely to face significant challenges when the Scottish Government introduces qualified one-way cost shifting (QOCS) and Damages-Based Agreements later this year.
AEGIS London’s Lloyd’s Syndicate 1225 produced another strong year in 2016 despite several large market risk losses and a generally higher loss frequency than in 2015
Specialist engineering and construction insurer HSB Engineering Insurance (HSB), part of Munich Re, has hired Alan Moore as Construction Product Lead.
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Della Cox as Specialty Relationship Manager and Sweta Tzimopoulos as Deputy Head of Business Development to the Business Development team.
Austrian supermarket customers can now get cash at their supermarket following the launch of a new service. Customers wishing to take advantage of the new offering can simply pay for their shopping at BILLA, MERKUR or PENNY with a debit card (Maestro) and at the same time withdraw cash. The "Cash-back" function is provided by SIX Payment Services.
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, announces it is to expand its syndicate business in Lloyd’s to include onshore energy and construction.
After last week’s Supreme Court hearing on the John Platt school fines case, a snap poll by specialist travel insurance provider Holidaysafe.co.uk found 10% of its family customers are prepared to move their child into private education or adopt home schooling to get flexibility around school holidays and dodge school fines.
SIX Payment Services (SIX) has announced the launch of Austria’s first mobile credit card PayLife 0100, bringing new momentum to the mobile payments industry in Austria.
Global stocks rallied, helped by optimism over corporate earnings, strong trade data from China and President Trump’s promise of a “phenomenal” announcement on taxes during the next few weeks.
Global equities ended the week little changed or slightly lower. In contrast, global bonds rallied, boosted by hopes that the US Federal Reserve would adopt a ‘wait and see’ attitude to raising rates after the latest employment data.
His first week as president, Donald Trump signed a draft of executive orders, including the US’s withdrawal from the Trans Pacific Partnership, the approval of new controversial oil pipelines and the mandating of US-made steel
In a week when Donald Trump became president of the US, both global stockmarkets and bonds retreated.
The Trump rally showed signs of abating, with equity markets treading water while the US dollar retreated slightly. In contrast, bonds initially rallied before selling off amid profit taking.
Global stockmarkets ended 2016 on a strong note, while global bond yields retreated from their recent peaks.
The FTSE 100 rallied 3.3% over the week.
The IHS Markit/CIPS purchasing managers' index for the services sector rose to 55.2, up from 54.5 the previous month and the highest figure since January 2016.
New UK chancellor Philip Hammond used the Autumn Statement to create a £27bn fiscal shock absorber to insure the economy against the negative effects of Brexit.
The FTSE 100 rose 0.7% over the week.
UK inflation, as measured by the Consumer Prices Index slipped to 0.9% in October, down from 1% in September.
Donald Trump is expected to axe to some of the most unpopular investment regulation when he takes office in January, boosting profits at asset managers.