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If this was in the UK it would obviously be funny and a good joke. Sorry to stereotype your fellow citizens Jokerman but I can believe that this woman may be serious.
Fair enough Jokerman re the intlligent Yanks you know. In your environment I believe you. Superb if this woman was playing it along. Great stuff.

As a sweeping prejudiced stereotype, my daughter spent a couple of years working at a posh pub in Oxford whilst at Uni there and said the Yanks were generally really nice but the most ill informed people she'd ever met. This view has been enhanced in her trips around the world since.

Before I get slaughtered, I know this isn't fact and there are ill informed everywhere.

My students tend not to be smart in a brain of Britain/University Challenge sort of a way. I work at a provincial public university. But in terms of getting stuff done, putting something together, making what they’ve got work, and figuring out how to do stuff better -that’s where their strengths lie. They don’t analyze stuff. They fix it and make it work for them. My best students are as good as any. And of course, my wife, daughter and four grandchildren, who are also Yanks, are world-beaters.

I think it’s good for Brits, even those who are smart and have visited the US a few times, to be aware that they don’t have a handle on the place -just impressions rooted in their own way of seeing things. Same as Americans who visit the UK. It takes a long time and a lot of keeping quiet and watching to figure out what makes a place tick in its own terms.
 
The majority of Americans who visit the UK, probably just go to London. That gives them an impression of Britain. Nuff said!
 
jokerman's observations regarding truly knowing a country and its society are universally valid. I challenge anyone to read Charles Dickens' American Notes and then honestly claim that they have not been influenced by his 180 year old observations. They have filtered down through time and entered the consciousness of generations, most of whom have never read them. It is sobering to see how gut feelings, acquired knowledge and opinions reckoned measured and impartial are in fact born from such material.
 
You may have missed my point.....

Just because deals are re-booked inside the EU does not mean that all - or even most - of the underlying business is "lost" to the UK.
I was trying to show how much financial business finds its way back to the UK.

For example, a chunk of Insurance business has been re-booked in Brussels....
...then re-insured back in London.

i.e. there is some "window-dressing" to assuage EU / other country regulators.

No it isn’t. You clearly don’t understand the insurance market but still you try to bullshit your way through.

EEA risks were written in London. The premiums were recognised in the UK and taxed in the UK.

Now, EEA risks are written in the EU. Brussels is mainly for syndicate business but risks are also insured in other EU countries. The reason for this is because the UK lost passporting rights. The premium is recognised in Europe and taxed in Europe. The money doesn’t find its way back to the UK!

Bottom line is, the IPT lost be the UK Exchequer as a result of losing passporting rights would more than outweigh the outrageous claim on the side of that red bus.
 
jokerman's observations regarding truly knowing a country and its society are universally valid. I challenge anyone to read Charles Dickens' American Notes and then honestly claim that they have not been influenced by his 180 year old observations. They have filtered down through time and entered the consciousness of generations, most of whom have never read them. It is sobering to see how gut feelings, acquired knowledge and opinions reckoned measured and impartial are in fact born from such material.

Mind you, as my wife said on reading that South Carolina is bringing back the firing squad, this is a very strange place indeed.
 
No it isn’t. You clearly don’t understand the insurance market but still you try to bullshit your way through.
"bullshit" ?1?
Why would you think I "don’t understand the insurance market" ?
Have you missed all my financial markets burblings....
(...based on 25 years in the City ??)

But hey, I don't know everything.....:(

EEA risks were written in London. The premiums were recognised in the UK and taxed in the UK.

Now, EEA risks are written in the EU. Brussels is mainly for syndicate business but risks are also insured in other EU countries. The reason for this is because the UK lost passporting rights. The premium is recognised in Europe and taxed in Europe. The money doesn’t find its way back to the UK!

Bottom line is, the IPT lost be the UK Exchequer as a result of losing passporting rights would more than outweigh the outrageous claim on the side of that red bus.
You may have a point about Insurance Premium Tax. (more below)
But how does that negate any of the other themes about the majority of the underlying business finding its way back to the UK ?

"bullshit" ?2?
Instead of posting unquantified hand-wringing, how about some actual numbers ?

IPT (source HMRC)
"Total provisional IPT receipts for the 2020 to 2021 financial year-to-date (April to December) are £4,762 million, which is £68 million (1.4%) lower than the same period in the previous financial year."

And is Brexit (and insurance transfer to Brussels) the reason for that £68 million reduction ???
Or might it be Covid ?
And yes, the full effect may take awhile.
But "more than outweigh the outrageous claim on the side of that red bus."

So please remind us.
What was the amount on that red bus ???
(An amount which has already been exceeded. (i.e. for taxpayer increase in NHS funding.)
 
During my travels, I found the average guys that I met to be very nice.
I only felt uncomfortable once or twice.
Once was actually in Orlando when we accidentally strolled off the usual tourist path and it suddenly became very intimidating.
The same happened in Barcelona.

One thing that did become quite obvious is the States is how very parochial the news is.
 
During my travels, I found the average guys that I met to be very nice.
I only felt uncomfortable once or twice.
Once was actually in Orlando when we accidentally strolled off the usual tourist path and it suddenly became very intimidating.
The same happened in Barcelona.

One thing that did become quite obvious is the States is how very parochial the news is.

Absolutely. It is a world unto itself of worlds unto themselves. When our local news mentions "the border," it means the border between Minnesota and Wisconsin which divides our conurbation. It does not mean the huge border which Minnesota shares with Canada. That shows up as a blank on the weather maps.
 
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"bullshit" ?1?
Why would you think I "don’t understand the insurance market" ?
Have you missed all my financial markets burblings....
(...based on 25 years in the City ??)

But hey, I don't know everything.....:(


You may have a point about Insurance Premium Tax. (more below)
But how does that negate any of the other themes about the majority of the underlying business finding its way back to the UK ?

"bullshit" ?2?
Instead of posting unquantified hand-wringing, how about some actual numbers ?

IPT (source HMRC)
"Total provisional IPT receipts for the 2020 to 2021 financial year-to-date (April to December) are £4,762 million, which is £68 million (1.4%) lower than the same period in the previous financial year."

And is Brexit (and insurance transfer to Brussels) the reason for that £68 million reduction ???
Or might it be Covid ?
And yes, the full effect may take awhile.
But "more than outweigh the outrageous claim on the side of that red bus."

So please remind us.
What was the amount on that red bus ???
(An amount which has already been exceeded. (i.e. for taxpayer increase in NHS funding.)

I’m really curious on the mechanism that all of the business written in the EU finds its way back to the UK. Do enlighten me!

You can find my calcs on the Brexit thread. You conveniently ignored it last time.

Passporting stopped on 1 Jan 2021 but the statistics you shared predate that. Who are you trying to fool?

25 years in the City. What were you doing? Clearly not insurance because in the Brexit thread you needed me to explain what IPT is!
 
I’m really curious on the mechanism that all of the business written in the EU finds its way back to the UK. Do enlighten me!

You can find my calcs on the Brexit thread. You conveniently ignored it last time.

Passporting stopped on 1 Jan 2021 but the statistics you shared predate that. Who are you trying to fool?

25 years in the City. What were you doing? Clearly not insurance because in the Brexit thread you needed me to explain what IPT is!
Ha, it’s the old

“I spent 10 years at university, don’t you know.....”

“oh really? Doing what what exactly?”

“Ok, you got me, I worked in the canteen.......”
 
No it isn’t. You clearly don’t understand the insurance market but still you try to bullshit your way through.

EEA risks were written in London. The premiums were recognised in the UK and taxed in the UK.

Now, EEA risks are written in the EU. Brussels is mainly for syndicate business but risks are also insured in other EU countries. The reason for this is because the UK lost passporting rights. The premium is recognised in Europe and taxed in Europe. The money doesn’t find its way back to the UK!

Bottom line is, the IPT lost be the UK Exchequer as a result of losing passporting rights would more than outweigh the outrageous claim on the side of that red bus.
Let me guess that you are arguing with Tarian. I made the mistake of unignoring one of his posts in this matter yesterday just to see if he was still coming out with the same "bull".

Apologies to all concerned if I'm wrong.

Laughable how some people claim knowledge they don't have. I gave up with Tarian a year or so ago. He was arguing with me over mental health care provision for schools in Bromley when I was just coming to the end of a 28 year stint teaching in a Bromley school so he thought he knew better (refer to Jerryattrick for even better awareness on this topic).

He then claimed that my local Tory councillors didn't conform to stereotype appearance and that one of them was of African descent.

Google Conservative Councillors for Petts Wood and Knoll, Bromley Council and have a look at the pictures.

Tbf, one of them has apparently given a lecture in South Africa, so he has been there and perhaps his ancestors were Boers.

Back on 'ignore' now.

Laudable actions Trashbat but no matter how brilliant you may be on any subject, you are wasting your time with him.
 
@Tarian i invite your forensic skills to decipher and also interpret @The pledge ramblings please......

:surrender::surrender::surrender:
Oi, leave pledge alone. I have already said I have googled, twittered, instagrammed, facebooked, tik tokd and checked ceefax. It is obvious that pledge is the only one that knows what is really going on. You need to heed his words.....
 
25 years in the City. What were you doing? Clearly not insurance because in the Brexit thread you needed me to explain what IPT is!
Concluding with an "appeal to authority" ... or lack of ??
Ad hominem ??

Where did you "explain to me what IPT is" ?
If you mean your post #14108 on page 706....
...it was not in response to any doubt from me.

No, I was not in Insurance#......
.....but most financial products were / are inter-related....
(.....and we all learned from each other.)
(and I have a close relative in Insurance who I check with.)

# Financial (Traded) Options are similar to Insurance. i.e. an up-front fee - followed by a (potential) event-based pay-out.

I’m really curious on the mechanism that all of the business written in the EU finds its way back to the UK. Do enlighten me!
I'm sorry if you didn't understand my explanation.
Was it too short ?? :oops:

i) Much of the Insurance business referred to has been re-booked in an EU entity.
(By referring to "Part VII transfers", you ought to know that much.;))

So where do you think the risk lies ?
In most (if not all) cases the risk has been passed back to London (mirrored / back-to-back / passthrough, whatever...)

Where do you think the Underwriters are ? (who price the risk)

ii) Insurance Premiums are invested in Funds.... (which of course you know....)
Most of this Fund Management remains in the UK#.

(# Of course it has been reported that some Funds under management have been transferred to Ireland ...which may include some Insurance Funds.)

But where do you think the vast majority of related trading occurs ?
(i.e. Shares, FX, Cash (money-market), Derivatives etc)

You can find my calcs on the Brexit thread. You conveniently ignored it last time.

Who are you trying to fool?
Sorry, I couldn't find any "calcs on the Brexit thread" - despite numerous searches and scrolls.
But you did assert a couple of numbers. (i.e. without source)


As for "bullshit"....about Insurance Premium Tax....
(and I don't know how I could have missed your error.....;))

IPT is payable in the country of risk.
So there was no tax revenue for the UK anyway (i.e before the re-booking in the EU)
i.e. on Insurance taken out in a EU country.
 
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Let me guess that you are arguing with Tarian. I made the mistake of unignoring one of his posts in this matter yesterday just to see if he was still coming out with the same "bull".
Or could it be because you are not used to your own "bull", ("long held beliefs"?), being challenged ?
(see below)

Laughable how some people claim knowledge they don't have. I gave up with Tarian a year or so ago. He was arguing with me over mental health care provision for schools in Bromley when I was just coming to the end of a 28 year stint teaching in a Bromley school so he thought he knew better (refer to Jerryattrick for even better awareness on this topic).
In which post did I "argue" over mental health care provision for schools in Bromley ?
In the thread "Coronavirus Tipping Point", page 119, post #2432
....all I said was:
"One of my children used CAMHS. It was fine".
No other remark I could find.

Aren't lefties supposed to accept a "lived experience" without challange ??:oops:

He then claimed that my local Tory councillors didn't conform to stereotype appearance and that one of them was of African descent.

Google Conservative Councillors for Petts Wood and Knoll, Bromley Council and have a look at the pictures.

Tbf, one of them has apparently given a lecture in South Africa, so he has been there and perhaps his ancestors were Boers.
"claimed" ... "of African descent" ?
It is fact.
And "no" not Boer. One parent Negro African, the other English.
Do you want me to find out which country that parent came from ?

[Of course his parentage should not matter.....
...except that we all know who loves promoting "Tory Stereotypes" and obsessing about "identity"
]

Back on 'ignore' now.
As is your right.

But if you keep posting bs because you haven't checked, don't blame those who are trying to help. :surrender:
 
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I doubt whether HM was consulted .... (maybe the Pledge will know ?)
 

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does googling someones name and looking at the history and posts about that person, instantly give us a preconceived idea about him or her, off course it does. Do we then instantly dismiss anything he or she says in the future, based on what we have previously read, yes we do. If someone knows more than us, and is way outside our understanding or comfort zone, then they are reported in a way that makes them a subject of ridicule. I have another post from Simon parkes which will no doubt be instantly dismissed by most of u, but what he has to say is correct.