Money Buzz! Europa

Tag: london

  • Study: French nationality remains the best in the world

    Study: French nationality remains the best in the world

    French nationality has once again been ranked as the best in the world, while for citizens of the UK, the ramifications of a “hard” Brexit could well sink the quality of their nationality from 8th globally, to 56th (the current position of China).

    Money Buzz! Europa learned this data from the latest findings of the Kälin and Kochenov’s Quality of Nationality Index (QNI), which is the only ranking that objectively measures and ranks all the world’s nationalities as legal statuses.

    Holding the top spot for eight consecutive years, France earned a score of 83.5% out of a possible 100% — less than one percentage point ahead of Germany and the Netherlands, which sit in joint-2nd place with 82.8%. France’s comparative advantage lies in its greater settlement freedom (attributable mainly to the country’s former colonial empire).

    In the top 10 on this year’s index, Denmark finds itself in 3rd place with a score of 81.7%, while Norway and Sweden hold joint-4th spot with 81.5%. Positions 5-10 are held by Iceland, Finland, Italy, the UK, Ireland and Spain, in that order.

    The US occupies 25th place on the QNI with a score of 70.0% — the country’s relatively poor standing is primarily due to its low settlement freedom compared to EU member states. 

    China ranks 56th, a four-place improvement on last year, and the Russian Federation climbs up two positions to 62nd place. The UAE has attained its highest rank ever, securing 42nd place. The bottom three nationalities on this year’s QNI are South Sudan, Afghanistan and Somalia.

  • Aon to acquire CoverWallet, a leading digital insurance platform

    Aon to acquire CoverWallet, a leading digital insurance platform

    Aon announced that it has entered into a definitive agreement to acquire CoverWallet, a leading digital insurance platform for small and medium-sized businesses.

    The acquisition provides Aon with additional access to the fast-growing, $200+ billion premium digital insurance market for small and medium-sized businesses, as well as the opportunity to leverage CoverWallet’s platform to develop and scale innovative digital client experiences that support the firm’s Aon United growth strategy.

    “We are excited to combine Aon’s expertise in data and analytics and global distribution with CoverWallet’s market-defining platform to create new sources of value for our clients,” said Greg Case, CEO of Aon. “CoverWallet’s culture of innovation is transforming the insurance landscape, and together we have the opportunity to further strengthen and expand the application of their digital client experience.”

    CoverWallet is already a global brand

    Founded in 2015 by technology entrepreneurs Inaki Berenguer and Rashmi Melgiri, CoverWallet has more than 300 employees across engineering, digital marketing, data science, business intelligence, design, and operations, with offices in New York City, Rochester, NY, and Spain.

    CoverWallet also maintains many strategic partnerships with top insurance companies, including Chubb, CNA, Progressive, Starr, AIG, Zurich, The Hanover, Hiscox, Liberty Mutual, and AmTrust, among others. Earlier this year, CoverWallet and Aon announced an initial commercial partnership, launched a pilot in Australia which later expanded to the U.S, and worked together to build additional pilot programs in the U.S.

    The transaction is expected to close during the first quarter of 2020, after which the CoverWallet organization will go to market as CoverWallet, an Aon company.

  • UK growth and consumption weaken, housing market is worsening

    UK economic activity has remained lacklustre at best in recent months, alongside a weakening in the housing market, consumption and financial conditions, Moody’s Investors Service said in its latest Brexit Monitor.

    “The UK economy contracted in the second quarter of this year, the first decline since 2012,” said Colin Ellis, Moody’s Managing Director – Chief Credit Officer EMEA and co-author of the Brexit Monitor. “In our view, if no Brexit deal is reached between the UK and the European Union, the UK economy could suffer a significant and persistent loss in output.”

    UK manufacturing and construction PMIs have fallen to their lowest levels since 2013 and 2009 respectively. However, retail sales volumes and activity have both stabilized.

    Capital investment and investment intentions have contracted further in 2019, while exports and the trade balance have been volatile.

    The risk of a credit negative no-deal Brexit has increased in recent months. Further delay to the UK’s withdrawal from the EU prolongs uncertainty and does not resolve the final outcome. A no-deal Brexit would have credit negative implications for a number of debt issuers.