Insurance UK

  • April 05, 2024

    Allianz Selling Mid-Size, Entertainment Holdings In $1.4B Deal

    Allianz Group said Friday that its corporate and specialty insurance unit is selling off its U.S. insurance business for midsize corporations and entertainment businesses for $450 million in cash to Arch Insurance North America.

  • April 05, 2024

    UK Urges Delay In Claiming Pensions Until Rules Change

    The U.K. tax authority has warned people to delay claiming their pensions until after Saturday, when the lifetime allowance is abolished, while the government clarifies technical changes to the legislation.

  • April 05, 2024

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

    This past week in London has seen the BBC sued by former Georgian defense minister David Kezerashvili, Russian businessman Ildar Sharipov file a defamation claim against the publisher of the Liverpool Echo newspaper, MEX Group Worldwide sue Barclays and NatWest, and a climbing gear company hit retailer Next with a claim of copyright infringement. Here, Law360 looks at these and other new claims in the U.K.

  • April 05, 2024

    Rothesay Sees 'Unprecedented' Pipeline For Pension Deals

    Pension insurer Rothesay Life said Friday it secured £12.7 billion ($16 billion) in new business premiums across a dozen de-risking retirement savings deals in 2023, with the year ahead marked by an "unprecedented pension risk transfer market pipeline."

  • April 05, 2024

    Cloud Biz Denies Owing Telecom Execs Over Bad Sale

    A cloud technology business has denied owing directors of a telecommunications company £1.5 million ($1.9 million) left unpaid after it bought their business, claiming the money due is offset by the £2 million it lost from the sale.

  • April 05, 2024

    UK Pension Schemes Maintain Near-Record Surpluses

    The aggregate surplus of the U.K.'s defined benefit pension sector remained at near-record levels of around £151 billion ($190.8 billion) in March, a consultancy has said.

  • April 05, 2024

    Chubb Pulled Into $83.4M Ukrainian Airline Insurance Claim

    Chubb European Group has been dragged into an $83.4 million claim in London which alleges that insurers have refused to pay out for aircraft that have been stranded in Ukraine after the Russian invasion, according to an amended High Court claim.

  • April 19, 2024

    Fieldfisher Expands Pensions Practice With 4 PwC Hires

    European law firm Fieldfisher LLP has announced it is bolstering its U.K. pensions practice by hiring a partner, two directors and an associate from PwC UK.

  • April 04, 2024

    Cargo Ship Owner Sues 2 Firms For $1.9M Over Vessel Fire

    A cargo-ship owner has sued two Turkish companies in a London court in an attempt to be reimbursed for costs incurred after an engine room fire caused the vessel to drift toward the Yemeni coast, saying the companies are liable for the costs incurred to save the ship and discharge their cargo.

  • April 04, 2024

    Insurer Wants Greater Flexibility On State Pension Age

    The U.K. government should explore giving Britons more choice over when they can start claiming their state pension amid concerns over increases to the official retirement age, insurer Aegon said Thursday.

  • April 04, 2024

    Hotel Sues Arch Insurance For £8M Over Spa Fire Damage

    Two English hotel companies have sued Arch Insurance (UK) Ltd. for £8 million ($10.1 million) after a roofing company allegedly caused a blaze on their London hotel spa's roof, according to a newly public claim.

  • April 04, 2024

    Fladgate Sued For $26.5M Over Botched Debt Claim Advice

    Fladgate LLP lost an investment fund an estimated $26.5 million after negligently advising it on how to take action to recover money owed under bonds, according to a High Court claim.

  • April 04, 2024

    UK Joins Global Data Protection Enforcement Program

    Britain's data watchdog said Thursday it has signed a new agreement with the Global Cooperation Arrangement for Privacy Enforcement to cooperate on cross-border data protection with the U.S. and eight other Pacific Rim countries.

  • April 04, 2024

    Financial Ombudsman Braces For Bigger Caseload

    The U.K. Financial Ombudsman Service said Thursday that it had upped its estimate of how many complaints it expects to receive in the coming financial year to 210,000 from 181,000 due to increased everyday financial concerns.

  • April 04, 2024

    EU Regulators Pushed To Reassess 3rd-Country Reinsurers

    The European Union's insurance and pensions watchdog on Thursday urged national regulators to reassess the risks stemming from reinsurers of non-EU countries dealing with firms that don't adhere to the same EU regulatory standards.

  • April 04, 2024

    Insurer Resolution Life To Buy New Zealand Biz For $247M

    Resolution Life said on Thursday that its Australasian arm has agreed to buy Asteron Life, an insurer based in New Zealand, for 410 million New Zealand dollars ($247 million), as the global group eyes entry into the country's growing insurance sector.

  • April 04, 2024

    Standards Setter Warns Of Conflicts Of Interest In Exchanges

    A global standards setter for regulators warned Thursday of the risk of conflict of interests in stock exchanges, including in situations where exchanges also run data or technology services.

  • April 04, 2024

    STM Wins Regulatory Approval For £4.5M Pension Biz Sale

    Financial services company STM said on Thursday that the City watchdog has approved the sale of its self-invested personal pensions unit to its chief executive for £4.5 million ($5.7 million), part of a wider sale of the business.

  • April 04, 2024

    Standard Life Bags Insurer's Pension Plan In £95M Deal

    Standard Life has completed a £95 million ($120 million) buy-in of a pension scheme sponsored by Brit Insurance in a deal guided by Burges Salmon LLP.

  • April 04, 2024

    Money Was Siphoned To Former Exec's Wife, Insurer Says

    A Liechtenstein insurer suing two of its former directors for allegedly funneling millions of pounds to accounts they had ties to has now accused one of the men's wives of also benefiting from unauthorized payments.

  • April 03, 2024

    More Pension Schemes Considering Running On, LCP Says

    An increasing number of pensions schemes are considering running on their retirement savings plans as funding levels continue to strengthen in the U.K., a consultancy has said.

  • April 03, 2024

    UK Regulators Propose Special Regime For Digital Securities

    Britain's finance regulators proposed on Wednesday a special regulatory regime to allow firms to use new technology to issue, trade and settle digital shares and bonds, a move they hope will boost the country's global competitiveness.

  • April 03, 2024

    Single Pensioner Income Inequality Found To Be Widening

    Government data shows income disparity between rich and poor single pensioners is widening in the U.K. due to low earnings growth and rising housing costs, according to research by consultancy Broadstone published Wednesday.

  • April 03, 2024

    Watchdog Bans 'Misleading' Advertisements By UK Lender

    The advertising watchdog said Wednesday that it has banned "misleading" promotions by Nationwide Building Society that boasted of its record of keeping branches open amid closures by competitors, pointing out that the lender has shut just over 150 branches in a decade.

  • April 03, 2024

    Insurer Lands Battery Brand Pension Scheme In £44M Deal

    Insurer Just Group said Wednesday it has completed a £44 million ($55.3 million) buy-in of a pension scheme sponsored by battery and lighting brand Energizer Group Ltd.

Expert Analysis

  • Perspectives

    Finding A Path Forward To Regulate The Legal Industry

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    Gerald Knapton at Ropers Majeski analyzes U.S. and U.K. experiments to explore alternative business structures and independent oversight for law firms, which could lead to innovative approaches to increasing access to legal services.

  • Whether And How To Compel Remote Arbitration

    Excerpt from Practical Guidance
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    As the pandemic delays in-person arbitration hearings, mediator and arbitrator Theodore Cheng provides arbitrators with a checklist to examine the rationale and authority for compelling parties to participate in remote hearings.

  • Creditors Welcome UK Supreme Court's Reflective Loss Decision

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    The U.K. Supreme Court's recent Sevilleja v. Marex decision benefits creditors and other stakeholders by excluding their claims from the reflective loss principle, which precludes third-party complaints that merely reflect company loss, say Robert Fidoe and Jack Moulder at Watson Farley.

  • How Courts Are Encouraging Mediation In England And Wales

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    As the judiciary braces for widespread pandemic-driven contractual disputes, courts in England and Wales are showing enthusiastic support for mediation, both when determining the implications of a party's refusal to mediate and when assessing whether normal restrictions on the use of mediation-derived information apply, says Leah Alpren-Waterman at Watson Farley.

  • Opinion

    EU Class Action Policy Guided By Wrong Measure Of Success

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    The political agreement obtained last month on the first European Union-wide rules on collective redress illustrates the fact that the main goal of the authorities is to increase the number of class action claims rather than focus on the application of standard civil liability principles, says Sylvie Gallage-Alwis at Signature Litigation.

  • An Attractive Regime For Governing Jurisdiction Post-Brexit

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    As indicated by the U.K.'s recent application to join the Lugano Convention, this is an "oven-ready" option for the U.K. for governing questions of jurisdiction and the enforcement of judgments with European Union countries after Brexit — but not without important differences from the current regime, say attorneys at Latham.

  • Reinsurance Implications Of COVID-19 Biz Interruption Laws

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    In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.

  • UK Appellate Rulings Clarify Arbitral Choice Of Law

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    Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.

  • Post-Pandemic Litigation To Expect In England And Wales

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    Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

  • UK Lawyers Can Adapt Due Diligence To Screen New Clients

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    As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

  • A UK Business View Of COVID-19's Economic Fallout

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    Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.

  • Remote Depositions Bring Ethics Considerations For Lawyers

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    Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.

  • Time For Presumptive Virtual Mediation In The UK

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    While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.

  • UK 'Property' Classification Boosts Confidence In Bitcoin

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    In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.

  • 3 EU And UK Data Protection Tips During COVID-19

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    Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.

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