The pace of announcements by UK insurers and brokers of new domiciles within the European Union for their post-Brexit operations has quickened in the last few months. Many are talking down the extent of the operations and staff who will have to move to service the business of EU clients. The regulators have other ideas.
Investors across Europe believe the continent’s economy has turned a corner. But investors in one country resist the European optimism, and look into the future with unease.
Assets invested in illiquid credit more than doubled in 2016 from $178bn to $360bn, according to a survey by investment consultancy Willis Towers Watson.
Mutuality in the insurance sector in the UK is seen as something of a minority pursuit after successive waves of demutualisation swept across the sector in the 1980s and 1990s.
European insurers were not happy in the middle of last year when the European Insurance and Occupational Pensions Authority (EIOPA) launched its first major stress tests of the continent’s life insurers for two years and the first since the formal start of the Solvency II regime.
The world is getting smaller. That is the unbidden meme of our generation, thanks to the juggernaut of growth unleashed by an outpouring of global bodies, free trade agreements, technology and international capital.
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