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Insurance UK
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May 28, 2025
UK Firms Plan To Tap Pension Surpluses Amid Rule Changes
Most U.K. businesses with defined benefit pension plans larger than £500 million ($673 million) have said they would access their retirement plan surplus once the government allows them to tap into the money, new research shows.
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May 28, 2025
Social Media Giants Urged To Curb Unauthorized Finance Ads
The European Union's financial markets watchdog urged the world's major social media and online companies on Wednesday to stop promoting unauthorized financial services on their platforms.
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May 28, 2025
New FCA Crypto Rules Focus On Stablecoin Value, Security
The Financial Conduct Authority on Wednesday proposed rules aimed at ensuring stablecoins hold their value and firms keep cryptocurrencies safe, as the U.K. progresses on its plans to oversee regulation of the risky assets.
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May 28, 2025
DLA Piper Steers Aviva's £270M Morrisons Pension Deal
Aviva said on Wednesday that it has taken on £270 million ($364 million) worth of pension plan liabilities from a retirement fund sponsored by supermarket giant Morrisons.
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May 28, 2025
UK Eyes Cutting Pension Tax Breaks To Boost Revenue
The government could be considering the removal of tax breaks on workplace pensions salary-sacrifice plans, experts have warned, as part of an effort to increase revenue in the next budget.
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May 27, 2025
IMF Issues Warning On UK Gov't Pension Consolidation Plans
U.K. government plans to consolidate smaller pension funds into larger megafunds may reduce competition in the sector and would benefit from enhanced oversight by the retirement savings watchdog, the International Monetary Fund said Tuesday.
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May 27, 2025
Railpen Sells Pension Administration Arm To Broadstone
British pensions adviser and administrator Railpen said it has sold its third-party pension administration business to financial services consultancy Broadstone.
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May 27, 2025
Picturehouse Wins Insurance Fee Battle With Landlord
A London court has ordered the owner of a property in Piccadilly Circus to repay more than £640,000 ($870,000) it overcharged tenant Picturehouse Cinemas by loading insurance premiums for the premises with top-end broker commissions for the landlord to pocket.
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May 27, 2025
DWF Teams Up With Verisk To Provide Services To Insurers
The legal and business services provider DWF LLP announced Tuesday it has teamed up with U.S. risk management company Verisk in a partnership they hope will drive down insurers' costs and increase operational efficiency in the insurance sector.
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May 27, 2025
600 'Shadow Fleet' Tankers Carry Russian Oil, Allianz Warns
More than 600 tankers are now involved in carrying Russian oil in breach of international sanctions imposed on the country's energy industry after the invasion of Ukraine in 2022, an insurer warned Tuesday.
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May 27, 2025
Insurance Adjuster Loses Appeal In COVID Mask Bias Claim
A London appeals judge has dismissed an insurance claims adjuster's case that his employer's policy on mask-wearing during the COVID-19 pandemic was discriminatory because of his belief in "bodily autonomy."
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May 27, 2025
Slaughter And May-Led Bain Invests £120M In UK Finance Biz
U.S. investment business Bain Capital has taken a stake worth nearly 30% in The Openwork Partnership for £120 million ($163 million) after winning backing from the City watchdog, the British financial adviser said Tuesday.
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May 23, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Nestlé hit with an intellectual property claim by a pet insurance company, VTB Capital bring a breach of contract lawsuit against J.P. Morgan Securities, and Société Générale's former chief executive face litigation from an Italian entrepreneur.
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May 23, 2025
Chubb Denies £1.2M Claim Over NYT Journalist's Crash
Chubb has denied having to pay £1.2 million ($1.6 million) in a reinsurance chain following a settlement of claims brought by a woman who was injured in a car crash while being driven by a New York Times journalist in Scotland.
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May 23, 2025
BMS Group Strengthens Presence In Turkey With Oria Deal
Independent insurance and reinsurance broker BMS Group has acquired insurance broker Oria of Turkey to cement its position in the Turkish market and expand its network in the region.
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May 23, 2025
Pension Admin Staff Threaten Strike Over Capita Takeover
A union for public sector workers said Friday that it is balloting members for strike action after it claimed it was locked out of negotiations ahead of a takeover of the administration of civil service pensions by professional services company Capita.
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May 23, 2025
Compensation Program Shaves £38M Off Finance Firms' Levy
The Financial Services Compensation Scheme has shaved £38 million ($51.3 million) off its levy on regulated firms, because it expects a fall in claims during the 2025/26 financial year.
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May 23, 2025
Blackstone Backs Davies With £275M For Global Expansion
U.K. insurance professional services group Davies said Blackstone's credit and coverage business has injected £275 million ($371.5 million) into the company to fund its ongoing global acquisition spree.
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May 22, 2025
'Marked Increase' In Brits Turning To Private Health Insurance
The private health insurance market in Britain is growing as a result of the COVID-19-induced surge in waiting lists for U.K. hospitals, financial consultant Broadstone said Thursday.
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May 22, 2025
68% Of Pension Transferers Happy With Choice, Data Shows
Only 68% of savers who have transferred money from a defined benefit to a defined contribution scheme in the last four years are happy with their choice, analysis published Thursday shows.
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May 22, 2025
HSF Guides Royal London's Up-To-£500M Asset Manager Buy
Royal London said Thursday that it has agreed to buy infrastructure asset manager Dalmore Capital as the mutual insurance and investment firm seeks to broaden its business.
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May 22, 2025
US Tariffs Drive Demand For Political Risk Insurance
The uncertainty around U.S. trade tariffs has increased demand among businesses for political risk insurance cover, a broker said Thursday.
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May 22, 2025
M&S Says Hack Attack Disruption To Last Till July, Cost £300M
Retail giant Marks & Spencer has said it expects the cyberattack hit it took in April to cost it around £300 million ($402 million), with disruption likely to continue to online retail until July.
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May 22, 2025
UK Pensions Watchdog To Quiz Funds On Gov't Asset Plan
The retirement savings watchdog has said that it will quiz pension funds over which assets are likely to be attractive, as part of a government strategy to encourage more investment in the national economy.
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May 22, 2025
Marsh Settles $143M Claim Over Losses In Greensill Collapse
Marsh has reached settlement in a claim of almost $143 million with investment firm White Oak, which had alleged that the insurance broker misled it when selling cover for investments in Greensill Capital, a financing firm that collapsed in 2021.

Draft UK Crypto-Regulations Facing Teething Troubles
The government's new crypto-assets regime will be unenforceable across borders and could deter fledgling companies from working in the country, meaning that the financial watchdog will face early challenges to its attempts to protect British consumers in a volatile global marketplace.
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FCA Set To Get Enforcement Boost From New Fraud Offense
The new "failure to prevent" fraud offense that comes into force in September will indirectly boost the Financial Conduct Authority's opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to "name and shame" companies it is investigating, lawyers say.

Tariff Wars Cloud UK Plan To Harness Pensions For Growth
The U.K. government has laid out plans for Britain's £3 trillion ($4 trillion) pensions sector to unleash more retirement assets into the real economy to boost growth and jobs — but a series of market shocks from proposed global trade tariffs have overshadowed reform plans.

Doubts Grow Over Impact Of UK Capital Market Deregulation
Government efforts to revitalize the country's sluggish economy by stripping away regulatory burdens on financial markets have raised concerns among lawyers that consumers might be exposed to more risk, amid doubts that the steps can stimulate broader U.K. economic output.
Editor's Picks
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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.
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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.
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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
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A Shifting Landscape Of Greater Scrutiny After Data Breaches
Recent Information Commissioner's Office fines for personal data breaches and a Home Office consultation signal a shift in the U.K. regulatory landscape, and with an increase in mass actions and resulting exposure, organizations should prepare for potential third-party claims from those incurring consequential losses, say lawyers at Atheria.
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What To Note As HM Treasury, FCA Plan New Crypto Regs
Taken together, HM Treasury’s recently proposed crypto-asset regulations and the Financial Conduct Authority’s new discussion paper on regulating crypto-asset activities provide key insights into the government's planned regime, which represents significant changes that will affect all firms providing related services, says Mark Chalmers at Davis Polk.
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FCA Update Eases Private Stock Market Disclosure Rules
The Financial Conduct Authority’s recently updated proposals for the Private Intermittent Securities and Capital Exchange System would result in less onerous disclosure obligations for businesses, reflecting ongoing efforts to balance an attractive trading venue for private companies while maintaining sufficient investor protections, say lawyers at Debevoise.
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Why Cos. Should Investigate Unethical Supply Chain Conduct
The U.K. government’s recent updated guidance for businesses on reporting slavery and human trafficking in supply chains underscores the urgent need for companies to adopt transparent and measurable due diligence practices, reinforcing the broader need for proactive internal investigations into unethical or criminal conduct, say lawyers at Seladore and Matrix Chambers.
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How UK Proposals Would Simplify Fund Manager Regime
The ongoing HM Treasury consultation and Financial Conduct Authority call for input on the future regulation of alternative investment fund managers indicate that deliberate steps are being taken to make the AIF regime more suitable for the U.K. market, with the aim of encouraging growth and competitiveness, says Leonard Ng at Sidley.
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FCA's Regulatory Plans Signal Cause For Cautious Optimism
The Financial Conduct Authority’s latest strategy document plans for less intrusive supervision, a more open and collaborative approach, and a focus on assertive action where needed, outlining a vision of deepened trust and rebalanced risk that will be welcomed by all those it regulates, says Imogen Makin at WilmerHale.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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What's Next After FCA Drops Troubled 'Name And Shame' Plan
A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.
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New UK Order Offers Welcome Clarity To Crypto Staking Rules
The recently effective Financial Services and Markets Act 2000 Amendment Order clarifies that arrangements for qualifying crypto-asset staking do not amount to a collective investment scheme, and by addressing an issue that curtailed staking activities in the U.K., facilitates the use of that practice, says Andrew Henderson at Goodwin.
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How EU's Anticoercion Tool May Counter New US Tariffs
The never-before-used anticoercion instrument could allow the European Union to respond to the imposition of U.S. tariffs, potentially effective March 12, and gives EU companies a voice in the process as it provides for consultation with economic operators at different steps throughout the procedure, say lawyers at Crowell & Moring.
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What To Know About Compliance As EU AI Act Takes Effect
Raj Shah at Mishcon de Reya explains how recently effective provisions of the European Union Artificial Intelligence Act, which concern prohibited AI practices and AI literacy, will affect both providers and users of AI systems, and suggests steps that companies can take now to plug any compliance gaps.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Market Infrastructure Regs Aim To Reinvigorate EU Trading
The recently amended European Market Infrastructure Regulation, imposing a requirement on certain financial and nonfinancial institutions to maintain an active EU counterparty account, hopes to incentivize the central clearing of trades, although there are concerns that higher compliance costs will lead to a decrease in competitiveness, say lawyers at McDermott.
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Important Changes To Note In Accountant Ethics Code Update
The Institute of Chartered Accountants of England and Wales' forthcoming code of ethics will bring a number of significant updates to raise standards within the profession, but also risks of professional indemnity claims that could lead to challenges for firms, say lawyers at RPC.
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What 2025 Holds For UK, EU Restructuring And Insolvency
European Union and U.K. restructuring developments in 2024, with a new era of director accountability, the use of cramdown tools and the emergence of aggressive liability management exercises, mean greater consideration of creditors' interests and earlier engagement in restructuring discussions can be expected this year, says Inga West at Ashurst.