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Insurance UK

FCA May Be Forced To Set Lower Fines After Appeal Setbacks

The Financial Conduct Authority might be forced to rethink how it justifies the size of its fines after being forced to cut penalties after referral to the Upper Tribunal, raising questions about its ability to make enforcement decisions stick, legal experts caution.

A man wearing a face mask passes a boarded-up arcade of closed shops on Regent Street in London in 2021.

Insurance Market Braces For Landmark COVID Furlough Case

Britain's top court is to hear a COVID-19 dispute that will affect the immediate survival of thousands of businesses and have long-term ramifications for how insurers treat state support at times of crisis in the future.

Exterior of the financial regulator's offices in London

FCA Kick-Starts New 'Name And Shame' Enforcement Tactic

The Financial Conduct Authority has begun 2026 with a clear sign that it will use its newly won power to "name and shame" companies under investigation for suspected misconduct as it seeks to bolster protection for consumers.

FCA Expected To Boost Fines, Name More Companies In 2026

The Financial Conduct Authority is likely to step up its enforcement action in 2026 with higher fines and more readiness to name companies under investigation, bolstered by a landmark High Court rejection of a challenge to such a naming decision.

February 20, 2026
UK Litigation Roundup: Here's What You Missed In London

The last week in London saw the founders of Getir sue investment fund Mubadala for more than $700 million tied to alleged breaches during the company's restructuring, the Welsh Rugby Union face a claim by Swansea Council over a proposed takeover of Cardiff Rugby, and Euro Car Parks target the Competition and Markets Authority after it was fined by the watchdog. Here, Law360 looks at these and other new claims in the U.K.
February 20, 2026
UK Insurance Tax Hits Record £872M In January

Insurers in the U.K. paid £7.70 billion ($10.4 billion) in tax in the first 10 months of the 2025-2026 British financial year, with a record £872 million collected in January alone, according to the latest government figures.
February 20, 2026
EU Regulator Slaps REGIS-TR With Record €1.4M Fine

The European Union markets regulator has fined REGIS-TR a record €1.37 million ($1.61 million) for rule breaches that put at risk the confidentiality of trading data essential for surveillance of the market by watchdogs, the highest penalty it has yet imposed on a trade depository.
February 20, 2026
Guy Carpenter Can't Stop Willis Hiring In Team Poaching Row

A judge ruled on Friday that Willis Re acted unlawfully in some ways when it recruited staff from rival Guy Carpenter, but refused to bar the reinsurance broker from dealing with particular clients or pursuing more hires over the alleged poaching plot.
February 20, 2026
HSF Kramer-Led Swiss Re To Buy QBE Business Segment

Swiss Re Group said Friday its commercial insurance division has agreed to acquire the global trade credit and surety business of Australia's QBE Insurance Group, to satisfy growing demand for its risk management services.
February 20, 2026
MPs To Weigh Impact Of State Pension Age Hike

A parliamentary committee has said it will probe how the estimated £10 billion ($13 billion) in savings from the expected rise in the state pension age from April should be spent.
February 19, 2026
Insurers, Charity Issue Guide For Economic Abuse Survivors

Insurance providers should carefully review their products and services and equip staff with necessary skills to offer better support to clients who are experiencing economic abuse, the Chartered Insurance Institute has said.
February 19, 2026
FCA Chief Rathi Wants Shift Away From New Rules

The Financial Conduct Authority will seek to make fewer new rules on the sectors it regulates, its chief executive has said, amid political pressure on the watchdog to do more to support U.K. economic growth.
February 19, 2026
EU Watchdog To Update Guidance On Inside Information

The European Union markets watchdog proposed Thursday to simplify guidelines on delaying disclosure of inside information under the market abuse regime, in order to reduce the burden for companies listing on stock exchanges.
February 19, 2026
UK Civil Unrest Could Cost Insurers £4.7B, Report Finds

The insurance sector could face losses of up to £4.7 billion ($6 billion) in the worst possible scenario of future U.K. civil unrest, a modeling firm has said.
February 19, 2026
11% Of New Homes Built In Flood Risk Areas, Aviva Says

One in nine new homes in England constructed between 2022 and 2024 has been built in an area of at least medium risk of flooding, insurance giant Aviva has said amid a record number of property payouts linked to adverse weather conditions.
February 19, 2026
Hogan Lovells Aids Pacific Life Re's €1.3B ASR Pension Deal

Pacific Life Re has completed a longevity swap of €1.3 billion ($1.5 billion) worth of pension liabilities for Dutch insurer Aegon.
February 18, 2026
'Reckless' Pensions Bosses Lose Bid To Overturn FCA Ban

A London tribunal has upheld a decision by the financial services regulator to ban two pensions company bosses from working in the sector after concluding that they had "recklessly" funneled savers' money into a high-risk property investment.
February 18, 2026
EU Regulator Sees Risk In Simplified Sustainability Rules

A markets watchdog called on lawmakers Wednesday to adjust proposed revisions to European sustainability reporting standards to better protect consumers and stop the risk of greenwashing.
February 18, 2026
CMS, Gowling Steer £113M Pension Deal For EU Tech Firm

European technology giant Sopra Steria Ltd. has agreed to a £113 million ($154.4 million) buy-in with Pension Insurance Corp. PLC to secure long-term retirement income for its program's 355 members, the insurer said Wednesday.
February 18, 2026
Pensions Watchdog Taps Temporary Market Oversight Chief

Britain's retirement savings watchdog said on Wednesday that it has appointed Ben Gunnee as its next interim executive director of market oversight.
February 18, 2026
Taylor Wessing Steers £11M Energy Consultancy Pension Deal

The pension plan for Noble Denton, an adviser to the oil and gas exploration industry, has agreed to a full scheme buy-in worth £11.4 million ($15.5 million), securing the retirement benefits of 106 members, an insurer broker has said.
February 18, 2026
Sackers, WTW Steer £700M IBM Pension Scheme Buy-In

The U.K. pension plan of a subsidiary of International Business Machines Corp. has completed a £700 million ($950 million) buy-in transaction, securing the retirement benefits of more than 3,600 members, Standard Life said on Wednesday.
February 18, 2026
Marine Insurer Settles Bid Over Fatal Sea Collision Claim

Two insurance businesses have settled their dispute with an Italian provider of offshore support vessels after they tried to block the company from claiming any legal liabilities or costs as indemnity from a tugboat sinking that left five of its crew dead.
February 17, 2026
No Need To Reopen Asbestos Suit, Insurance Exchange Says

An insurance exchange for the trucking industry has told a California federal judge he does not need to reopen its case against a group of reinsurers as the parties battle whether to remove a "side-switching" arbitrator, explaining that a New York state court will likely rule soon on the issue.
February 17, 2026
Osborne Clarke, CMS Guide £180M Tech Biz Pension Deal

Pension insurer M&G has taken on £180 million ($243.3 million) in retirement savings liabilities from a scheme sponsored by high technology components manufacturer, in a deal guided by Osborne Clarke and CMS, an adviser on the transaction has said.
February 17, 2026
BoE Aims To Cut Costs With New Securitization Rules

Britain's finance watchdogs proposed on Tuesday to simplify rules on securitizations, slashing industry compliance costs and boosting international competitiveness.
February 17, 2026
Fitch Predicts Rise In European Insurance M&A In 2026

The European insurance market could see a wave of further mergers and acquisitions this year, a ratings agency said Tuesday.
February 17, 2026
'Severe Weather' Behind Record £6.1B Property Payouts

Insurers paid out a record £6.1 billion ($8 billion) in property claims in 2025, driven largely by issues linked to severe weather, a trade group for the sector said on Tuesday.
February 17, 2026
DLA Piper Steers L&G On Three Bulk Annuity Purchases

Legal & General has helped secure £86 million ($117 million) of pension liabilities across a U.K. manufacturing and construction group's three retirement programs, Broadstone said Tuesday.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

FCA's Investment Regime May Prove A Double-Edged Sword

The Financial Conduct Authority’s final rules on consumer composite investments intend to support retail investors in making more informed decisions while affording firms greater flexibility, but continuing with opaque methodologies will require greater operational and compliance effort in the short term, say lawyers at Fried Frank.
How FCA's Client Reforms May Boost Investment Access

The Financial Conduct Authority’s recent proposals to reform the professional client categorization regime and simplify conflicts of interest rules are likely to be welcomed, although firms will need to navigate the increased responsibility that comes with greater flexibility, say lawyers at Skadden.
Consolidation Of Lloyd's Bylaws Will Be Useful For Members

Lloyd’s of London’s recent consolidation of its bylaws will make the rules governing its market more accessible, providing immediate results as well as the necessarily flexible framework to address the future needs of its participants, say lawyers at Skadden.
4 Securities Trends For Pension Trustees To Watch In 2026

With the U.K. signaling it will soon demand more active fiduciary stewardship from pension trustees, British and EU fund managers must follow key trends in mass securities litigation, investment disclosures, and U.S. enforcement that could require intervening for their investors in 2026, say lawyers at Labaton Keller.
10 Financial Regulatory Changes To Prepare For In 2026

A number of changes in the financial regulatory sphere are due this year, from targeted support to payment safeguarding and a new consumer composite investments regime, and firms should plan to address the policies and regulatory strategies relevant to them, say lawyers at Womble Bond.
FCA Enforcement Trends In 2025 And Expectations For 2026

The Financial Conduct Authority’s clear intention in 2025 to conduct fewer, faster investigations and reinforce transparency is likely to continue in 2026, with a dual-pronged approach of targeted enforcement and assertive supervision to fight crime, support growth and help consumers as its priorities, say lawyers at WilmerHale.
Judicial AI Guidance Update Shows Caution Still Prevails

The judiciary’s recently updated guidance on the use of artificial intelligence warns judges and tribunal members about misinformation and white text manipulation, providing a reminder that AI tools cannot replace direct engagement with evidence and reflecting a broader concern about their application when handling confidential material, say lawyers at Hogan Lovells.
How Russia Sanctions Trajectory Is Affecting UK Legal Sector

The proliferation of U.K. and European Union sanctions targeting Russia has led to a vast increase in legislative provisions, and lawyers advising affected businesses should expect a complex and evolving legal landscape for the foreseeable future, says Rob Dalling at Jenner & Block.
Navigating Legal Privilege Issues When Using AI

The recent explosion in artificial intelligence has led to prompts and AI outputs that may be susceptible to disclosure in proceedings, and it is important to apply familiar principles to assess whether legal privilege may apply to these interactions, say lawyers at HSF.
A Look At Factors Affecting Ombudsman Complaint Trends

Lawyers at Womble Bond provide an analysis of the Financial Ombudsman Service's complaint trends in 2025, highlighting the impact of changes within the FOS and external factors on the financial sector's redress system.
What To Know About FCA's Short Selling Regime Proposals

Although the Financial Conduct Authority’s recent proposals for changes to the U.K. short selling regime do not materially alter the rules, targeted reforms designed to reduce the administrative burden placed on position holders will be welcomed by market participants, say lawyers at McDermott.
EBA Proposals Signal Overhaul Of EU 3rd-Party Risk Rules

The European Banking Authority’s plans to extend third-party risk controls to non-ICT services, which may be finalized by the end of the year, will place a significant compliance and operational burden on in-scope entities, which should not be underestimated, say lawyers at Travers Smith.
FCA Proposals Reduce Consumer Duty Compliance Burden

The Financial Conduct Authority’s recent proposals to streamline the consumer duty regime represent a pragmatic response to industry concerns, with a move toward sector-specific supervision and potentially narrowing its scope for wholesale and cross-border business, say lawyers at Simmons & Simmons.
How New Companies House ID Rules Affect Businesses

Lawyers at Shepherd & Wedderburn discuss the Economic Crime and Corporate Transparency Act’s new mandatory identity verification requirements for all company directors and persons with significant control, set to go live next week, which aim to curb fraud by improving the reliability of information held by Companies House.
What EU Securitization Proposals Signal For Risk Transfers

If implemented, recent amendments to the European Union securitization framework are expected to have an unambiguously positive effect on significant risk transfer markets, providing greater consistency and necessary flexibility, say lawyers at McDermott.