Advertisement
UK markets closed

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • HANG SENG

    16,828.93
    +317.24 (+1.92%)
     

  • CRUDE OIL

    83.40
    +1.50 (+1.83%)
     

  • GOLD FUTURES

    2,335.70
    -10.70 (-0.46%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • Bitcoin GBP

    53,344.63
    -79.98 (-0.15%)
     

  • CMC Crypto 200

    1,426.91
    +12.15 (+0.86%)
     

  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     

  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Royal London to turn Irish business into subsidiary due to Brexit-CEO

Reuters - UK Focus

LONDON, March 30 (Reuters) - Royal London Mutual Insurance Society will turn its Irish business into a regulated subsidiary as a result of Britain's decision to leave the European Union, chief executive Phil Loney said on Thursday.

Financial services firms need a regulated subsidiary in a European Union country to offer their products across the bloc if Britain no longer has access to the single market.

Lloyd's of London said on Thursday it had picked Brussels for its subsidiary.

"We have a business in the Republic of Ireland (Other OTC: IRLD - news) . We will be domiciling a subsidiary in Ireland so we can continue to operate," Loney told Reuters by phone.

Also on Thursday, Royal London reported 2016 operating profit of 282 million pounds, up 16 percent. (Reporting by Carolyn Cohn, editing by Maiya Keidan)