The European Commission, which suspended its investigation into the deal last month while waiting for Aon to provide requested information, is concerned the takeover may drive up prices and hold back innovation.

Insurer Hiscox counts cost of virus claims, ‘brand damage’ after court case

Mar 3, 2021

“Hiscox has undoubtedly suffered some brand damage this year,” the company said
The company lost a high-profile court case in January over the policy wordings and has reserved $475 million for pandemic-linked claims.

Event cancellation and abandonment is expected to account for the biggest share of claims, followed by business interruption, the company said.

China declares war on cryptocurrency mining, stirring wider fear

Mar 2, 2021

China’s Inner Mongolia, the autonomous region, a favourite among the industry because of its cheap power, also banned new digital coin projects, according to a draft plan posted on the Inner Mongolia Development and Reform Commission’s website February 25.
The aim is to constrain growth in energy consumption to about 1.9 per cent in 2021.

Brexodus from City of London to the EU slows

Mar 2, 2021

Financial services are not included in the EU-UK trade deal that came into effect on Jan. 1, largely cutting off the City from the EU.

“After the major hurdle of standing up new EU hubs, the days of significant swathes of asset and job relocation announcements appear to have passed and will likely be replaced by the slower yet ongoing movement of people and assets to Europe for compliance purposes,” Omar Ali, a financial services managing partner at EY, said.

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