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Insurance UK
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July 01, 2025
Pension Trustees Urged To Help Shape FCA Guidance Rules
The U.K.'s retirement savings watchdog has called for trustees of pension plans to respond to a major shakeup of rules guiding what level of financial guidance can be issued by providers.
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July 01, 2025
BNP Paribas Seals €5.1B Axa Investment Management Buy
BNP Paribas Cardif said on Tuesday that it has finalized its purchase of the investment management business of French insurer Axa for an estimated €5.1 billion ($6 billion).
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July 01, 2025
Aviva's £3.7B Direct Line Deal Gets CMA Approval
The competition regulator said Tuesday that it has waved through Aviva's £3.7 billion ($5.1 billion) cash and stock acquisition of rival insurer Direct Line, granting the deal its final regulatory clearance.
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June 30, 2025
EU Watchdog Pushes For Stronger Greenwashing Controls
The European Union's markets watchdog warned national regulators Monday to supervise better how investment managers disclose sustainability-related factors of funds.
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June 30, 2025
Finance Gender Gap Progress Too Slow, Gov't Report Warns
A body set up by HM Treasury to increase the representation of women at senior levels in finance warned Monday that improving gender parity in the sector remains too slow and urged companies to "accelerate" their efforts.
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June 30, 2025
Insurer Competition Drives Down Pension Plan Costs
Increased competition in the pensions insurance market has driven down costs to their lowest level in two years, professional services company Aon said Monday.
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June 30, 2025
EU Eyes Adding ESG Risk In Stress Tests For Banks, Insurers
Three European Union finance watchdogs have proposed rules to ensure that national banking and insurance regulators integrate environmental, social and governance risks into supervisory stress-testing in a more harmonized way.
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June 30, 2025
BP Marsh Raises Stake In RPC-Advised Broker To 39%
Private equity investor B.P. Marsh said Monday that it has snapped up an additional 2% interest in Pantheon for £5.5 million ($7.5 million), expanding its holding in the Lloyd's market broker to 39%.
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June 30, 2025
FCA's New Enforcement Regime Threatens Firms, Individuals
The Financial Conduct Authority could damage the reputations of businesses and individuals under investigation in cases that it publicizes anonymously as an unintended consequence of a new enforcement policy, lawyers have warned.
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June 29, 2025
FCA Presents Targeted Support Rules For Finance Firms
The Financial Conduct Authority said Monday it has set out a fast-track plan to allow financial services firms to provide a new type of "targeted support" to unadvised customers about pensions and investments.
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June 27, 2025
EU Watchdog Floats Allowing Funds Some Riskier Investing
The European Union's market watchdog has recommended that the European Commission should reform the rule book governing the bloc's retail investors, calling for a more relaxed stance on alternative assets investments and improved regulatory harmonization across member states.
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June 27, 2025
Pensions Admin Staff To Strike Amid Takeover Plan
A union for public sector workers announced a six-week-long strike action Friday against the management of pension administrator MyCSP, ahead of a planned takeover of the administration of civil service pensions by professional services company Capita.
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June 27, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the British Basketball Federation sued by members of the men's professional basketball league for alleged competition breaches, songwriter Coco Star file an intellectual property claim against Universal Music Publishing, and the Solicitors Regulation Authority file a claim against the Post Office amid ongoing investigations into law firms linked to the Horizon IT Scandal. Here, Law360 looks at these and other new claims in the U.K.
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June 27, 2025
Aon Denies Ex-Exec's $1.3M Bonus Bid Over Early Exit
Aon has rejected its former insurance consulting chief's $1.3 million claim for bonus and stock options, arguing that his employment contract ended before the payout date.
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June 27, 2025
ICO Secures Guilty Verdicts In Massive Data Misuse Case
The director of a legal funding company and seven other men have been convicted over a personal injury data conspiracy at an English court, the U.K.'s data regulator has said.
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June 27, 2025
Preventing Financial Crisis Best Thing For Growth, BoE Says
The government's growth agenda should not equate to throwing out all safeguards, because preventing a major financial crash is vital for ensuring Britain is competitive, a senior member of the Bank of England said Friday.
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June 27, 2025
Eversheds Leads £44M Deal With Industrial Co.'s Pension Plan
Industrial manufacturer Milliken has secured its U.K. employee pension scheme through a bulk purchase annuity transaction valued at £44 million ($60 million) with Royal London, Britain's largest mutual life insurer said Friday.
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June 26, 2025
Tokio Marine Unit Hit In £46M Case Over Mayfair Development
A Jersey-based property development company has sued a Tokio Marine HCC unit and an insolvent construction contractor for around £46 million ($63.2 million) for a string of alleged failures linked to the building of an apartment block and luxury hotel in Mayfair, west London.
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June 26, 2025
Ex-Consultant Wants £1.4M Over Botched Insurance Cover
A former consultant has sued a wealth management and benefits consultancy for £1.4 million ($1.9 million) for allegedly failing to arrange adequate insurance cover, which she claims left her short of money during serious illness and surgery.
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June 26, 2025
BoE Launches Forum For Financial Firms And Policy Body
The Bank of England said Thursday it has set up a forum for senior individuals in large financial services firms to liaise with the central bank's Monetary Policy Committee, which sets interest rates.
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June 26, 2025
Audit Watchdog Sets New Guidance For 'Black Box' AI
Britain's accounting watchdog warned Thursday in new guidance on using artificial intelligence in audits that the opacity of AI models makes it crucial for firms to document how they are controlled.
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June 26, 2025
Gov't Mulls Mandating Climate Plans From Banks, Insurers
Large banks and insurance companies in Britain could be forced to develop and publish a strategy for how they plan to align their business with global climate targets under proposals floated by the U.K. government.
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June 26, 2025
PIC Inks £900M Pension Deals For Energy Tech Biz
Pension Insurance Corp. PLC said Thursday that it has completed buy-ins with three plans sponsored by Baker Hughes Co., a global energy technology business, covering liabilities worth £900 million ($1.2 billion).
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June 25, 2025
Solicitor Hit With £30K Court Bill Over Fake Car Claims
A solicitor has been handed an eight-month suspended sentence and a £30,874 ($40,871) bill for filing false claims that city potholes in Stoke-on-Trent were damaging cars, following an investigation that uncovered anomalies in his invoices.
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June 25, 2025
EU Watchdog Pushes To Expand Digital Asset Program
The European Union's market watchdog advised lawmakers Wednesday to make a pilot scheme for tokenizing securities on digital ledger technology more flexible for investors and permanent.
Expert Analysis
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What Cos. Should Know About The EU Greenwashing Rules
The EU's recently proposed Green Claims Directive introduces new rules to improve the transparency and honesty of environmental claims in advertising, which will help ensure that consumers receive accurate and reliable information to make informed purchasing decisions, says Daja Apetz-Dreier at Morgan Lewis.
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The Art Of Corporate Apologies: Crafting An Effective Strategy
Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.
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Dissecting Recent Developments Against The Misuse Of NDAs
The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.
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What To Know About The Russia-Stranded Plane Ruling
The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.
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3 Notable Pensions Reforms In Spring Budget
The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.
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UK Arbitration Ruling Offers Tips On Quelling Bias Concerns
An English court's recent decision in H1 v. W to remove an arbitrator because of impartiality concerns offers several lessons on mitigating bias, including striking a balance between arbitration experience and knowledge of a particular industry, and highlights the importance of careful arbitrator appointment, says Paul-Raphael Shehadeh at Duane Morris.
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Bias Ruling Offers Guidance On Disqualifying Arbitrators
An English court's recent decision in H1 v. W, removing an arbitrator due to bias concerns, reaffirms practical considerations when assessing an arbitrator's impartiality, and highlights how ill-chosen language by an arbitrator can clear the high bar for disqualification, say Andrew Connelly and Ian Meredith at K&L Gates.
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Insurance Policy Takeaways From UK Lockdown Loss Ruling
An English court's recent decision in Unipolsai v. Covea, determining that insurers' losses from COVID-19 lockdowns were covered by reinsurance, highlights key issues on insurance policy wordings, including how to define a "catastrophe" in the context of the pandemic, says Daniel Healy at Brown Rudnick.
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What COVID Payout Ruling Means For Lockdown Loss Claims
While the High Court's recent COVID-19 payout decision in Gatwick v. Liberty Mutual, holding that pandemic-related regulations trigger prevention of access clauses, will likely lead to insurers accepting more business interruption claims, there are still evidentiary challenges and issues regarding policy limits and furlough, say Josianne El Antoury and Greg Lascelles at Covington.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases
The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.
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Unpacking The Building Safety Act's Industry Overhaul
Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.
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A Rare Look At Judicial Interpretation Of LEG Exclusions
A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
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Ruling In FCA Case Offers Tips On Flexible Work Requests
In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.
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Breaking Down The New UK Pension Funding Regs
Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.