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Insurance UK
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September 05, 2025
AXA Settles Shipping Repair Co.'s £950K Fire Damage Claim
A ship repair and maintenance company has settled its £950,000 ($1.3 million) claim against insurer AXA's U.K. business, according to a newly public order by a London judge.
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September 05, 2025
EU Watchdog Urged To Clarify Derivatives Clearing Rules
Representatives of the fund management and derivatives industries have urged European regulators and lawmakers to clarify technical planned rules for companies that clear derivatives under a regime known as European Market Infrastructure Regulation 3.
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September 05, 2025
SPB Steering Multiemployer Collective Pension Plan Launch
Squire Patton Boggs has said it is advising TPT Retirement Solutions as the company plans to launch what is expected to be the U.K.'s first multiemployer collective defined contribution scheme.
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September 05, 2025
Brits Prioritize Fitness Over Pension Savings, ABI Says
Every fifth Briton prioritizes physical health now over their future financial health, according to research by Pension Attention, a national awareness campaign for pensions.
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September 05, 2025
FCA's New Redress Powers Spark Some Legal Concerns
Government plans to reform the Financial Ombudsman Service will give the Financial Conduct Authority new powers to introduce wide-ranging consumer redress programs at its discretion, leading lawyers to warn that the regulator could become too susceptible to public pressure.
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September 04, 2025
Ex-FCA Supervisor Says Tribunal Denied Him Fair Trial
A former supervisor at the City watchdog argued at an appellate tribunal in London on Thursday that his unfair dismissal claim against the regulator did not receive a fair hearing, saying that a lower court had made factual errors in its judgment in the case.
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September 04, 2025
Top EU Court Says Pseudonymized Data Is Still Personal
The highest court of the European Union ruled Thursday that comments submitted by shareholders and creditors of a collapsed Spanish bank during an investigation following the sale of the lender could be treated as personal data even though they had been pseudonymized.
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September 04, 2025
Lloyd's Delays Overhaul Of Market's IT Until 2028
Lloyd's of London said Thursday that the next phase of its long-awaited modernization plan will now not take place until 2028.
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September 04, 2025
UK's AI Sector Hits Record £2.9B Investment In 2024
Investors plugged a record £2.9 billion ($3.9 billion) into British artificial intelligence companies in 2024, the government has said, as it set out plans to help grow the U.K.'s AI assurance market.
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September 04, 2025
UK Set To Close Loopholes In Money Laundering Rules
HM Treasury has released detailed draft changes to the anti-money laundering regime to close regulatory loopholes exploited by businesses in all sectors, including crypto-asset companies.
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September 04, 2025
Chinese Insurers Leading Race To Cover Renewable Energy
The global renewable insurance market grew from $5.65 billion in 2020 to $8 billion in 2024, with insurers from China underwriting most premiums in recent years, analysis from a campaign group shows.
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September 03, 2025
Insurers Win Arbitration Of Nursing Home Coverage Fight
A Louisiana federal judge has ordered the holder of a mortgage on a New Orleans nursing home to arbitrate hurricane damage claims against a group of insurers, saying the company was bound to an underlying arbitration clause in the insurance policy despite not signing it.
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September 03, 2025
4 Firms Steer $2.7B Sale Of Aon's NFP Wealth Biz
Aon said Wednesday it has agreed to sell various business units that make up the majority of NFP's wealth management operations to private equity firm Madison Dearborn Partners in a transaction worth $2.7 billion, with Skadden, Dentons, Paul Weiss and Kirkland representing the parties.
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September 03, 2025
UK Autumn Budget Set For November, Reeves Confirms
The U.K. government will announce its autumn budget in November, Chancellor of the Exchequer Rachel Reeves said Wednesday amid growing speculation that the government will raise taxes to cover the rising cost of borrowing.
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September 03, 2025
Investors Lose Bid For Pension Orders In AI Bike Fraud Case
Investors seeking to enforce a fraud judgment against the founders of an AI-driven exercise bike company suffered a setback Wednesday, when a London judge declined to finalize interim debt orders against the founders' pensions.
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September 03, 2025
EU Trade Body Wants Relaxed Bank Rules For Consolidation
A trade body for European financial institutions has called for widespread reform of rules on capital, ring-fencing and crisis resolution for banks, steps it claims would boost competitiveness and industry consolidation.
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September 03, 2025
Council Loses Bid To Recover £20M Pension Investment Loss
An English council on Wednesday lost its bid to wind up a failed Luxembourg-based fund to recover a £20 million ($27 million) pension investment, with a London appeals court ruling the entity was not a company for the purposes of insolvency legislation.
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September 03, 2025
Insurer Aviva Halts £60M Of Fraudulent Insurance Claims
Insurance giant Aviva said Wednesday it prevented over £60 million ($80.6 million) worth of fraudulent claims in the first six months of the year.
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September 03, 2025
RPC Guides US Insurer On $555M Buy Of Lloyd's Underwriter
Houston-based insurer Skyward Specialty has bought Lloyd's of London managing agent Apollo Group Holdings Ltd. for $555 million, in a deal steered by RPC and Willkie Farr & Gallagher LLP.
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September 03, 2025
'Deteriorating Outlook' For Reinsurers As Claims Mount
Profits for the global reinsurance sector are likely to dip in 2026 because of an increase in competition on pricing and mounting losses from natural catastrophes, a ratings agency has said.
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September 03, 2025
Aegon Nets €700M From Dutch Insurer Share Sale
Global financial services company Aegon said on Wednesday that it has lowered its stake in Dutch insurer ASR Nederland NV by selling its shares and has raised €700 million ($815 million) in the process.
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September 03, 2025
Davies Group Launches New Wholesale Insurance Broker
Professional services and technology business Davies Group Ltd. said Wednesday that it has launched a specialist property and casualty wholesale insurance brokerage.
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September 02, 2025
FCA Calls For Legal Clarity If Trustees Refuse Gov't Mandate
The Financial Conduct Authority warned a parliamentary committee Tuesday that the government's Pensions Schemes Bill requires secondary legislation to clarify how trustees can safely refuse any government direction on how to invest funds in the private economy.
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September 02, 2025
UK Gov't To Fix Fallout From Virgin Media Pensions Ruling
The government has floated new rules for pension funds that experts say could offer a way out of the legal limbo they've faced since a landmark court judgment more than a year ago.
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September 02, 2025
Clifford Chance-Led Online Marketplace Plans Swiss IPO
Online marketplace owner Swiss Marketplace Group AG said on Tuesday that it is planning to float its existing shares on the SIX stock exchange of Switzerland in an initial public offering.
Expert Analysis
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Series
Why I Became A Lawyer: Expanding The Meaning Of Diversity
My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.
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2 Perspectives On Navigating The Litigation Funding Process
Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.
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Answers To Key Legal Finance Ethics Questions
While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.
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Competing Legal Factors Vex Insurance Arbitration Disputes
The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.
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Cannabis Investors Should Beware Money Laundering Risk
Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.
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Real-Life Lessons For Lawyers From 'Game Of Thrones'
What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.
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UK Firms Should Be Prepared For Government Raids
Recent enforcement activity from the Financial Conduct Authority and other regulators highlight the penalties firms face for procedural breaches, and the value in ensuring that employees are well-equipped to handle unannounced inspections, say James Marshall and Sonja Hainsworth of Bryan Cave.
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Series
Why I Became A Lawyer: Completing The Journey Home
My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.
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3 Insurance Issues Raised By The Notre Dame Cathedral Fire
The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.
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Where The Post-Libor Litigation Tsunami Will Hit
The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.
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Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant
The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.
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UK Antitrust Watchdog Proposals Would Bolster Enforcement
The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.
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Guest Feature
Preet Bharara On The Human Factor In The Justice System
A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.
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Considering A More Cost-Effective Future For The SFO
In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.
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Lessons From Carphone Warehouse's Partial FCA Settlement
In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.