The Unfulfilled SPAC Venture in London's Insurance Market

In a notable shift for the UK's financial landscape, Financials Acquisition Corp (FAC), a special purpose acquisition company (SPAC), recently abandoned its ambitious plan to raise £300 million for a new insurance venture. This development marks a significant setback not just for FAC, but also for London's efforts to revitalise its stock market and attract innovative financial instruments like SPACs.