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Insurance UK

  • May 13, 2025

    FCA Proposes Paring Back Insurance Rules To Boost Growth

    The Financial Conduct Authority proposed Wednesday to remove unnecessary requirements from its insurance rule book to reduce company costs and fuel U.K. growth.

  • May 13, 2025

    Only Half Of Mid-Retirees Expect Pensions To Last, Aviva Says

    Only half of pension savers aged 65 to 75 are confident they are on track to make their retirement savings last for the rest of their life, insurance giant Aviva has said, calling for a tool that would help retirees in the middle of retirement gauge their financial prospects.

  • May 13, 2025

    FCA Reports Progress On Misconduct MoU With China

    The City watchdog has said it is working on a memorandum of understanding with the National Financial Regulatory Administration in China to help detect misconduct early.

  • May 13, 2025

    EU Insurtech Sells Italian Arm To Private Equity Firm

    Wefox Insurance AG said Tuesday it has sold its Italian business to private equity giant JC Flowers & Co., as it wraps up a restructuring of the wider business.

  • May 13, 2025

    Pension Providers Agree To Invest 拢25B In UK Projects

    The government said Tuesday that it has struck a deal with the pensions industry that could result in 拢25 billion ($33 billion) of investment in U.K. infrastructure and clean energy projects.

  • May 13, 2025

    Peugeot Invests $125M In Insurance Broker BroadStreet

    The company that represents the interests of French industrial dynasty Peugeot said Tuesday that it plans to plow $125 million into U.S. insurance brokerage BroadStreet as it moves to diversify its investments away from the automobile sector.

  • May 13, 2025

    Starboard Hotels, Liberty Mutual Settle COVID Cover Action

    The owners of 21 hotels across England have agreed to settle their attempt to claw back 拢21 million ($28 million) from Liberty Mutual Insurance Europe SE to cover losses they allegedly suffered during the COVID-19 pandemic.

  • May 12, 2025

    WTW Launches Insurance Solution For FinTech Companies

    Global insurance broker Willis on Monday launched an insurance product it said would meet the needs of financial technology companies as they look to grow.

  • May 12, 2025

    Most Fail To Verify Fraud Requests, Finance Trade Body Finds

    Only one in 10 people who takes steps to protect themselves from financial fraud checks the logic of requests for action, according to research published Monday by Take Five, an anti-fraud campaign led by UK Finance.

  • May 12, 2025

    LCP Forecasts Pensions Bill 'Crammed' With Policy Changes

    The U.K. government is likely to use forthcoming pensions legislation to include a number of reforms that have been planned for years, a consultancy said Monday.

  • May 12, 2025

    Mayer Brown, Gowling Guide 拢120M Charity Pension Deal

    Pensions insurer Rothesay said Monday that it has secured retirement savings plan liabilities聽worth聽拢120 million ($160 million) for a scheme sponsored by charity and exam board AQA Education, in a deal guided by Mayer Brown LLP and Gowling WLG.

  • May 12, 2025

    Japan's Dai-Ichi Increases Stake In UK Asset Manager To 15%

    Japanese life insurer Dai-ichi Life said Monday that it will increase its stake in Capula, a聽British hedge fund, to 15% as it seeks to grow its asset management business and diversify risk.

  • May 09, 2025

    Lloyd's Body Calls For Reduced Reporting Under New CEO

    The Lloyd's Market Association has urged the new chief executive and chair of Lloyd's of London to streamline regulatory obligations with other watchdogs in the City, among other commitments the trade body said would help take the specialist insurance market "up a gear."

  • May 09, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a subsidiary of State Street Corp. sue British sports betting giant Entain, Manolete Partners and聽HSBC tackle action just weeks after signing a 拢17 million revolving credit facility agreement, and a commercial fraud claim launched by EFG Bank against Mirabaud & CIE.

  • May 09, 2025

    AIG Wins COVID-19 Loss Payout Row With Cornish Hotels

    A judge ruled on Friday that AIG does not have to pay the two owners of bars and hotels in Cornwall for losses suffered during the COVID-19 pandemic because the policy did not specifically cover the coronavirus disease.

  • May 09, 2025

    EU Fund Managers Call To Simplify EU Sustainability Package

    Europe's fund managers on Friday backed the European Union's bid to streamline the bloc's sustainability regulations, but warned "excessive" reductions in reporting requirements could limit investors' access to crucial environmental, social, and governance data.

  • May 09, 2025

    Gov't Announces Overhaul Of 拢25B Welsh Pension Fund

    The U.K. government said Friday that the 拢25 billion ($33.2 billion) public sector Wales Pension Partnership fund will be overhauled to invest more in local communities, as part of a wider effort to tap the retirement savings industry for growth in Britain.

  • May 08, 2025

    Broker Denies Negligence In 拢2M Fire Coverage Claim

    An insurance broker argues that it does not owe a property developer 拢2 million ($2.7 million) for allegedly mishandling its policy because the developer failed to disclose that a building had suffered break-ins and vandalism, which ultimately caused the property's insurer to refuse a payout after a fire.

  • May 08, 2025

    2nd Circ. Revives Arbitration In Hurricane Damage Suit

    The Second Circuit on Thursday revived a bid by surplus insurers seeking to arbitrate claims over hurricane-related property damage in Louisiana, in a ruling that overturns its own precedent on the interpretation of a treaty governing international arbitration.

  • May 08, 2025

    FCA Names Payments And Digital Finance Head Amid Merger

    The Financial Conduct Authority said Thursday that it has appointed a single executive to the positions of permanent executive director for payments and digital finance and managing director of the Payment Systems Regulator, months after the government disclosed plans to merge the two authorities.

  • May 08, 2025

    Aon Sued For $1.3M By Ex-Exec Over 'Unpaid' Bonus, Stock

    Aon's former insurance consulting chief has sued for more than $1.3 million worth of bonus and stock options, accusing the company of failing to live up to the original deal he negotiated when he joined from Willis Towers Watson.

  • May 08, 2025

    TPT Floats UK's First Multiemployer Collective Pension Plan

    TPT Retirement Solutions said Thursday it plans to launch a multiemployer collective defined pension scheme, after the government said it will roll out new legislation for the sector in the autumn.

  • May 08, 2025

    FCA Flags Risky Investment Practices At Small Asset Firms

    The Financial Conduct Authority said Thursday that many small asset managers have ineffective arrangements to manage conflicts of interest and inadequate processes to offer high-risk investments.

  • May 08, 2025

    Sackers Guides Trustee In Standard Life's 拢280M Pension Deal

    Standard Life and Cancer Research UK's retirement savings plan have concluded a 拢280 million ($372 million) bulk purchase annuity transaction, the pensions giant said Thursday, with the trustee guided by Sacker & Partners LLP.

  • May 08, 2025

    Franco Manca Owner Settles COVID-Cover Fight With QIC

    The owner of popular high-street pizzeria Franco Manca has agreed to settle its dispute with QIC Europe Ltd. over losses the restaurant chain claimed to have suffered after it temporarily closed sites at the height of the COVID-19 pandemic.

Expert Analysis

  • Key Takeaways From EU Proposal For Greenwashing Rules

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    If the proposal for a Green Claims Directive, with its enhanced rules on claims about a product or trader's environmental impact, is adopted, it will affect all businesses selling their products in the EU and bring major changes to the way those products are packaged and advertised, say attorneys at Shearman.

  • UK Plan For AI Rules Raises Compliance Questions For Cos.

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    The U.K. government's proposal for a new, clear and pro-innovation regulatory framework on artificial intelligence diverges from the European Union's approach, which may create incoherence and compliance burdens for businesses operating in both jurisdictions, says attorneys at Akin Gump.

  • The FCA's Timely Plan To Reform Asset Management Regime

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    The discussion paper recently issued by the U.K. Financial Conduct Authority finally addresses how, in the future, asset management regulation will work in totality from an investor, manager and distributor perspective, and its review of the purpose and balance of the regime is welcomed, says Tim Dolan at Greenberg Traurig.

  • Questions Raised By UK Plan For ESG Ratings Providers

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    HM Treasury is taking steps toward regulating environmental, social and corporate governance ratings providers, aiming to ensure adequate protection for U.K. users and level the playing field, but the potential new regime risks imposing undue regulatory burden and overlapping requirements on U.K. and overseas firms, say Ferdisha Snagg and Andreas Wildner at Cleary.

  • Review Of Senior Managers Regime Provides Useful Insight

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    Although the recently launched review of the Senior Managers and Certification Regime suggests a remodel rather than wholesale change, the topics raised illustrate the mindset of the three key stakeholders in the U.K. financial services sector, say Richard Burger and Katy O鈥機onnor at WilmerHale.

  • Highlights Of The UK's New Economic Crime Plan

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    With the direction of the U.K. government鈥檚 newly launched second economic crime plan undeniably altered by the recent focus on kleptocrats and their money, the emphasis is now on how the U.K. can deliver a more effective approach to reducing the threat of economic crime, says Kathryn Westmore at the Royal United Services Institute.

  • How The LDI Crisis May Lead To Pensions' Negligence Claims

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    Following the liability-driven investment crisis and its impact on pension schemes, employers and trustees may now be considering if anyone is to blame for any losses arising, say Rachael Healey and Andrew Oberholzer at RPC.

  • 5 Crypto Considerations For UK Policymakers

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    A recent consultation paper from the U.K.'s HM Treasury about digital asset regulation has been touted as a cause for celebration, and while the wheels have been put into motion, there is still a lot of work to do when it comes to correctly regulating the U.K.'s cryptocurrency industry, says Oliver Linch at Bittrex Global.

  • Crypto-Asset Consultation Sets Out Direction Of Travel For UK

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    HM Treasury's phased approach in its recently published consultation on extending the U.K.'s future financial services regulatory regime for crypto-assets, although in many ways differing from parallel developments in the EU, is likely to be conducive to thoughtful policymaking, say attorneys at Cleary.

  • EU Act Offers Financial Sector A Cybersecurity Framework

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    Although unlikely to be a complete solution to all risk management issues, the Digital Operation Resilience Act, effective from 2025, will increase regulatory pressure substantially in the EU financial sector and demand compliance with several new requirements, say attorneys at DLA Piper.

  • Warranty & Indemnity Insurance Considerations For M&A

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    With increased competition and greater capacity leading to lower premiums and deal costs, warranty and indemnity insurance is now available to the wider M&A market, and may help to limit risk and help parties focus on other key elements of the transaction, says Alice Wooler at Birketts.

  • 4 Exercises To Quickly Build Trust On Legal Teams

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    High-performance legal teams can intentionally build trust through a rigorous approach, including open-ended conversations and personality assessments, to help attorneys bond fast, even if they are new to the firm or group, says Ben Sachs at the University of Virginia School of Law.

  • Lessons To Be Learned From Twitter's Latest Hacking Scandal

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    Following the report of a recent data breach at Twitter, it is clearly vital for companies to adhere to best practices in data protection and IT security arrangements, including technical measures, and proper processes and procedures that mitigate risk and provide adequate training for staff, says Simon Ridding at Keller Postman.

  • Preparing For EU's Pay Gap Reporting Directive

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    An agreement has been reached on the European Union Pay Transparency Directive, paving the way for gender pay gap reporting to become compulsory for many employers across Europe, introducing a more proactive approach than the similar U.K. regime and leading the way on new global standards for equal pay, say attorneys at Lewis Silkin.

  • Has The Liberalization Of Legal Services Achieved Its Aims?

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    Although there is still some way to go, alternative business structures are now an increasingly prominent feature of the legal services landscape, and clients can expect greater choice, improved quality and more manageable costs, as was intended by this shake-up of the profession's regulatory frameworks 15 years ago, says Dana Denis-Smith at Obelisk Support.

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