Insurance UK

4 Things To Watch As UK Releases Budget

The U.K.'s Labour government is set to release an autumn budget Wednesday that faces a test of balancing a pledge not to raise working people's taxes with an expected need to boost revenue to meet fiscal rules. Here are four things to watch for as the budget is issued.

'Name And Shame' Test Case Ruling Could Embolden FCA

Financial services companies should be ready to engage with consumers when faced with enforcement action, in a lesson from a test case of the reasoning behind a Financial Conduct Authority decision to "name and shame" a company that could encourage bolder naming actions, lawyers said.

FCA's Tokenization Plan May Heighten Financial Crime Risk

The Financial Conduct Authority's planned tokenization regime to help asset managers trade investment funds as digital assets could expose investors to financial criminals lurking in crypto-markets, with the regulator's "targeted support" rules multiplying the risk, lawyers have warned.

Surface of polluted water reflecting sunlight with a leaf.

'Forever Chemicals' Pollution Claims Seeping Into UK Courts

Litigation over widely used "forever chemicals" that has led to big payouts in the U.S. could become a source of significant exposure for insurers and their policyholders in the U.K. following a recent settlement.

November 26, 2025
Business Platform Launches Insurance Service With Admiral

A British business management platform has said it will start offering insurance to its members through a partnership launched with Admiral Business, in a bid to help close the protection gap among smaller organizations.
November 26, 2025
Gov't To Boost Pensions For UK Retirees Hit By Inflation

The U.K. government said Wednesday it plans to increase benefits for retirees who have seen their pensions eroded over the years by inflation.
November 26, 2025
Howden-Owned MGA Launches Biodiversity Insurance Policy

Dual UK, a managing general agent owned by insurance broker Howden, has unveiled what it called the first insurance product to support biodiversity gains and drive sustainable development in Britain.
November 26, 2025
UK To Limit Pension Tax Breaks, Raising Retirement Concerns

The U.K. government said Wednesday it will reduce tax breaks on pension salary-sacrifice arrangements, despite fears it could leave millions worse off in retirement.
November 26, 2025
FCA Finds Misreporting Problems In Investment Firms' Data

The Financial Conduct Authority warned on Wednesday that it has found investment firms across the sector are reporting data on their capital positions and risk management to the regulator wrongly.
November 26, 2025
DWF-Led Pension Trustee Co. IGG Buys Savings Adviser

Independent Governance Group, a pensions trusteeship and governance services provider, has acquired retirement consultancy KGC Associates Ltd. to help the business to grow.
November 26, 2025
Marine Insurers UK P&I Club, TT Club In Merger Talks

Two mutual businesses have revealed that they are in talks over a merger to create one of the world's largest marine and logistics insurance companies.
November 25, 2025
Male-Dominated Underwriting Sector Hinders Female Progress

A majority of female executive underwriters regard the less inclusive "male-dominated leadership environment" as the main cause of decreasing numbers of women in senior roles in the underwriting profession, a survey has found.
November 25, 2025
Half A Million Pensioners 'At Risk Of Paying Income Tax'

An additional half a million state pensioners would pay income tax if the government extends the freeze on thresholds for another two years, a former pensions minister has said.
November 25, 2025
MPs Call For Expansion Of State Reinsurer To Cyberthreats

The government should extend the scope of the U.K.'s £2.2 trillion ($2.9 trillion) terrorism reinsurer to cover emerging cyberthreats, lawmakers have said, amid growing concerns about a risk to the economy of a major attack on IT infrastructure.
November 25, 2025
Global Body Adds 4 Insurers To Resolution Standards List

A global standard setter said Tuesday it has added three large Swiss insurers to its latest list of entities required to have a plan to cope with business failure, raising the number from 13 to 17.
November 25, 2025
FCA Cancels Insurance Biz's License Over Compliance Issues

The Financial Conduct Authority has said it has prevented a company that sells insurance policies for dental and breast implants from conducting any regulated activities because it failed to pay fees it owed to the watchdog.
November 25, 2025
AXA Unit Buys 40% Of Fiber Biz From Vodafone, Telefónica

A subsidiary of AXA Investment Managers said Tuesday it has acquired a 40% stake in FiberPass, a wholesale network operator, from Vodafone Spain and Telefónica España, as the global investor continues to expand its digital infrastructure portfolio.
November 24, 2025
UK Gov't Confirms 4.8% State Pension Increase In 2026

The government has confirmed that it will raise the state pension by 4.8% in 2026, maintaining the triple lock despite fears that millions of older people will be dragged into paying income tax on the benefit.
November 24, 2025
Employers Urged To Take Lead On UK Retirement Savings

Employers must shoulder the majority of the responsibility in helping to ensure Britons have adequate savings in later life, Hymans Robertson said.
November 24, 2025
Ex-Georgia PM Wins $607M Appeal Over Credit Suisse Fraud

The Bermudan life insurance arm of Credit Suisse lost its challenge on Monday to a $607 million damages bill it owes to the former prime minister of Georgia as the top court for overseas U.K territories rejected its arguments.
November 24, 2025
Gov't Warned Over Changing Pension Tax Relief In Budget

Senior British insurance and pension professionals have warned the government against changing pension tax relief in the upcoming Budget, claiming that it could affect savings.
November 24, 2025
Ex-Investments Head Wins £40K Over Redundancy Clash

The former head of investments at Kimura Management Services has been awarded almost £40,000 ($52,000) in compensation by a London employment tribunal, which found the defunct trade finance company liable for multiple breaches during its redundancy process.
November 21, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Clyde & Co. face a claim from Yorkshire firm GWB Harthills, a property developer previously investigated over suspected bribery and corruption sue the general counsel and solicitor to HM Revenue and Customs, and sportswear giant Gymshark bring an intellectual property claim against its co-founder's rival company, AYBL. Here, Law360 looks at these and other new claims in the U.K.
November 21, 2025
Investment Co. Defeats Compliance Director's Pension Bid

Private equity firm 3i Group PLC defeated a bid from its compliance director to challenge the winding up of its pension plan on Friday, as the High Court found that the firm was entitled to close the fund when it did.
November 21, 2025
EU To Simplify Rules For Sustainable Finance Products

The European Commission has unveiled major amendments to its Sustainable Finance Disclosure Regulation, proposing streamlined laws designed to simplify reporting rules, cut costs and better reflect how financial markets work.
November 21, 2025
Gov't Urged To Include Climate In UK Pensions Commission

Climate change and wider sustainability factors should form part of the government's recently revived Pensions Commission because they are "inextricably linked" to the future of British savers, an industry association said in a letter to the commission published on Friday.
November 21, 2025
FCA Plans Reduced Reporting To Save Firms £108M A Year

The Financial Conduct Authority proposed Friday to reduce transaction reporting requirements for 1,400 firms in the financial sector, which would save them an estimated £108 million ($141 million) a year.
November 21, 2025
A&O Shearman Guides £6B Pension Deal For BBC

The British Broadcasting Corporation has struck a deal to insure £6 billion ($7.8 billion) of its pension liabilities with Zurich and Metropolitan Life Insurance Co., in a transaction steered by A&O Shearman, Slaughter and May, Eversheds Sutherland, and Debevoise.
November 21, 2025
UK Inheritance Tax Revenue Up 4% So Far In 2025

The government collected £5.2 billion ($6.8 billion) in inheritance tax between April and October, figures published on Friday by Britain's tax authority show, extending a record-setting trend in the 2025/26 financial year.

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

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.
What To Know About EU's Reimposition Of Sanctions On Iran

Lawyers at Steptoe discuss the European Union’s recent reimposition of trade and financial sanctions against Iran, which will introduce legal and operational constraints that affect EU companies' commercial activities in the region.
FCA Crypto Proposals Herald Tougher Oversight For Firms

The Financial Conduct Authority’s recent proposals to extend regulation to crypto-asset activities will bring parity, but implementation of the operational resilience requirements and enhanced financial crime controls will present compliance challenges, says Michelle Kirschner at Gibson Dunn.
What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.