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UK insurers ask for new rules to develop captive market

UK insurers ask for new rules to develop captive market

by AIP Online Bureau | Aug 19, 2024 | Eco/Invest/Demography, International News, Non-Life, Policy, Regulation, Reinsurance

UK is missing out on a market that’s estimated to reach $161 billion globally by 2030, the letter said. The US, France and Italy have all introduced regimes to bring captives onshore according to a letter written to Chancellor Rachel Reeves by senior figures in the UK...

UK sets up AI Laboratory to tackle cyber threats

by AIP Online Bureau | Aug 13, 2024 | Eco/Invest/Demography, International News, Policy, Risk Management, Technology

The new organization would in time seek to work with technology companies and academic experts, as well as international allies, to counter AI-based threats to national security and British businesses UK spies are stepping up efforts to tackle cyber and artificial...
UK imposes sanctions on Russian insurer Ingosstrakh protecting ‘shadow fleet’ of tankers

UK imposes sanctions on Russian insurer Ingosstrakh protecting ‘shadow fleet’ of tankers

by AIP Online Bureau | Jun 14, 2024 | International News, Non-Life, Policy, Reinsurance, Risk Management

Sanctions against Ingosstrakh are notable because it is major provider of coverage for the commercial fleet moving Russian oil, largely displacing insurers based in the UK and Europe. The company didn’t immediately respond to a request for a comment on how the...
Google ad tech class action gets go ahead from London court

Google ad tech class action gets go ahead from London court

by AIP Online Bureau | Jun 5, 2024 | International News, Policy, Regulation, Technology

Should the claimants prove that the Alphabet Inc. unit preferred its online advertising services over competitors between January 2014 and November 2022 they estimate damages as high as £13.6 billion ($17.4 billion) The UK’s Competition Appeal Tribunal unanimously...
RBI shifts 100 tonnes of gold from vaults in UK to India to save storage cost

RBI shifts 100 tonnes of gold from vaults in UK to India to save storage cost

by AIP Online Bureau | May 31, 2024 | Eco/Invest/Demography, Indian News, Policy, Risk Management

The central bank held 822.10 tonnes of gold as part of its foreign exchange reserves as of March 31, 2024, an increase from the 794.63 tonnes held at the same time last year, according to the annual data released by the RBI New Delhi: The Reserve Bank of India (RBI)...
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