United Kingdom

Carolyn Cohn

Prudential to split by year-end; monitoring Hong Kong protests

14 Aug 2019

LONDON Britain's biggest insurer Prudential will complete a planned break-up of the company by the end of the year, with its UK-focused fund and insurance business set to list as M&G Plc.

Nach Vega-Absturz - Raumfahrt-Versicherung wird teurer

08 Aug 2019

London/Frankfurt Die Raumfahrt ist für die Versicherer ein Verlustgeschäft - das war schon vor dem jüngsten Absturz der "Vega"-Rakete mit einem Militärsatelliten der Vereinigten Arabischen Emirate an Bord so.

Regulatory tussle delays UK pension superfunds to 2020: sources

02 Aug 2019

LONDON Differences over how to regulate Britain's new pension superfunds, designed to deal with pension deficits, have delayed the first deals in this area until next year, industry sources say.

Insurer RSA reviews future of London commercial business

01 Aug 2019

LONDON British insurer RSA said it was reviewing its London commercial business and could exit if it stops making money after the group as a whole eked out a 1% rise in operating profit in the first half.

Frozen Woodford fund breaches regulatory cap after Guernsey delistings

31 Jul 2019

LONDON Neil Woodford's suspended Equity Income Fund has breached a 10% cap on unlisted stocks after three of its holdings stopped trading on the Guernsey exchange, though a spokesman said it was taking action to remedy the situation.

Space insurance costs to rocket after satellite crash

31 Jul 2019

LONDON/FRANKFURT Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say.

Computers boost Man Group first-half assets, shares up

31 Jul 2019

LONDON British hedge fund manager Man Group  said assets rose 5% in the first half of the year, helped by performance in its computer-driven strategies, boosting fee income and sending its shares higher.

Neil Woodford's flagship fund frozen for another four months

29 Jul 2019

LONDON Under-fire British asset manager Neil Woodford was hit by a double blow on Monday as his flagship fund looked set to remain frozen until early December and he faced being sacked from managing his namesake listed investment trust.

Exclusive: Woodford biotech stakes first off block in asset sale - source

18 Jul 2019

LONDON/FRANKFURT British fund manager Neil Woodford is looking to kick off the sale of his unlisted biotech investments at the end of July, but faces months of negotiations to offload the portfolio, a source familiar with the matter told Reuters.

Motor insurer Hastings warns of hit from discount rate change

16 Jul 2019

British motor insurer Hastings warned on Tuesday of a $10 million (£8.03 million) hit to its profits from a change in the discount rate used to calculate compensation for personal injuries, with rivals expected to follow.

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