Insurance UK

  • March 04, 2025

    UK Financial Ombudsman Reports Jump In Complaints

    Complaints to the Financial Ombudsman Service spiked almost 42% in the third quarter of 2024 compared to the same period the previous year, with grievances about bank cards, insurance and automobile hires the most common, a survey published Tuesday said.

  • March 04, 2025

    Pension Surpluses Rise To £180B As Gov't Weighs New Rules

    The U.K.'s defined benefit pension sector is now £180 billion ($229 billion) in the black, a professional services firm said, as the government weighs plans to allow businesses to tap into funding surpluses.

  • March 04, 2025

    New Pension Standards Need Improvement, Trade Body Says

    The Financial Reporting Council's proposed changes to the actuarial rules used in the retirement savings sector are welcome but introduce additional requirements that should be avoided, a pensions trade body said Tuesday.

  • March 04, 2025

    Beazley Launches $500M Buyback Amid 'Record' Profits

    Beazley PLC said Tuesday it will kick-start a share buyback scheme worth up to $500 million, as the insurer disclosed record profits in 2024 despite taking a hit from natural disasters.

  • March 03, 2025

    UK Pensions Watchdog Calls For Improved Scheme Data

    The Pensions Regulator said Monday it has launched a strategy to help the retirement savings industry digitalize more data to help inform savers and product designers.

  • March 03, 2025

    Brookfield Launches In UK To Tap Pension Buyout Demand

    North American investment giant Brookfield Corp. said Monday it is poised to enter the U.K. pension transfer market, amid an increasing number of retirement savings plans offloading their liabilities to insurers.

  • March 03, 2025

    Gov't Softens Hard Deadline For State Pension Top-Ups

    The U.K. government has softened its deadline for Britons to plug holes in their state pension, amid a surge in last-minute inquiries.

  • March 03, 2025

    AXA Launches €1.2B Share Buyback After Profit Gain

    AXA SA on Monday kick-started a program to repurchase up to €1.2 billion ($1.25 billion) worth of its own shares, after the French insurance giant unveiled a "very strong performance" for its 2024 financial year.

  • March 03, 2025

    Pension Insurer Utmost Appoints Schroders For £400M Book

    Utmost Life and Pensions has appointed Schroders to act as asset manager for its retirement portfolio, after the insurer entered the bulk purchase annuity market last year.

  • March 03, 2025

    CMS Guides £2.8M Pension Deal For UK Careers Charity

    The Careers Research and Advisory Centre Pension Scheme said Monday that it has secured a £2.8 million ($3.6 million) full buy-in with retirement financial services specialist Just Group PLC.

  • February 28, 2025

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

    This past week in London has seen the billionaire Zakay brothers, founders of Topland Group, become embroiled in a legal dispute with each other, Unilever sue three major perfume companies over alleged illegal price-fixing, and the publisher of Vogue magazine file an intellectual property suit against Cornucopia Events. Here, Law360 looks at these and other new claims in the U.K.

  • February 28, 2025

    EU Asset Managers See Flaws In ESG Rules Revamping

    A trade body has warned that European proposals to water down ESG reporting rules for companies will leave asset managers waiting too long for data, and that it is unclear how broadly they must apply climate change reduction plans.

  • February 28, 2025

    Pension Credit Demand Soars After Cuts To Winter Fuel Aid

    Some 300,000 U.K. retirees have applied for pension credit so far in the financial year ending March 31, showing a sharp spike from the previous year after the Labour government said it would cut winter fuel payments for millions of pensioners.

  • February 28, 2025

    Gov't Urged To Overhaul Pension Transfer Rules

    The U.K. government must urgently overhaul its traffic light system for pension transfers, a trade body said, warning that the rules as drafted are too vague and cause major delays.

  • February 28, 2025

    FCA Clears CVC's £5.4B Hargreaves Lansdown Takeover

    CVC Capital Partners said Friday that the finance watchdog has given the green light to its £5.4 billion ($6.8 billion) takeover of wealth manager Hargreaves Lansdown, wrapping up all the regulatory conditions needed to close the deal.

  • February 28, 2025

    60% Of Insurance Broking M&A Driven By Private Equity

    Private equity companies took part in almost two-thirds of transactions that involved European insurance intermediaries in 2024, a consultancy has said.

  • February 27, 2025

    UK Asset Managers Told To Expect Multi-Firm Reviews

    The Financial Conduct Authority has told asset managers in a "dear CEO" letter that it will start multi-firm reviews focused on the Consumer Duty and conflicts of interest in specialist areas.

  • February 27, 2025

    FCA Abolishes Requirement For Consumer Duty Champions

    The Financial Conduct Authority said Thursday it has abolished the requirement for firms to have Consumer Duty board champions and will implement around 50 other growth proposals shortly.

  • February 27, 2025

    Insurer Calls On Gov't To Increase Road Repair Spending

    The U.K. government must increase funding for local authorities to improve road networks blighted by potholes, public sector insurer Zurich Municipal has said, noting a 19% increase in insurance claims caused by damaged roads last year.

  • February 27, 2025

    Swiss Re Expects 'Less Than $700M' Hit From LA Wildfires

    European insurance giant Swiss Re said Thursday that it expects losses of less than $700 million from the mass wildfires that swept the Los Angeles area in January.

  • February 27, 2025

    Hiscox Kicks Off $175M Share Buyback, Posts Record Profit

    Insurer Hiscox Ltd. launched on Thursday the first part of a share buyback program worth up to $175 million, after posting a record annual pre-tax profit of $685 million.

  • February 26, 2025

    Pension Watchdog Could Face Strain From Superfund Surge

    The U.K.'s retirement savings watchdog should consider a fast-track route to approving superfund transactions, a consultancy said Wednesday, warning that "regulatory bandwidth" could prove a barrier to a growth in demand.

  • February 26, 2025

    Pensions Industry Warns Of 'Unique' Pressures For Gen Z

    Policymakers should legislate to include gig workers and the self-employed in retirement savings systems to improve the "unique" financial pressures faced by those born from the mid-to-late 1990s to the early 2010s, a pensions research organization said Wednesday.

  • February 26, 2025

    2 Firms Steer NormanMax Acquisition Of UK Flood Insurer

    U.K. flood insurer FloodFlash Ltd. has agreed to be acquired by NormanMax Insurance Holdings Inc., a U.S.-based firm that specializes in catastrophic risk, pending regulatory approval from the Financial Conduct Authority.

  • February 26, 2025

    Insurers Could Take Hit From FCA Premium Finance Action

    Insurers could take a hit of up to 15% on their profitability if the Financial Conduct Authority introduces an outright ban on so-called premium finance arrangements, analysts said Wednesday.

Expert Analysis

  • 2 Perspectives On Navigating The Litigation Funding Process

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    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.

  • Answers To Key Legal Finance Ethics Questions

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    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.

  • Competing Legal Factors Vex Insurance Arbitration Disputes

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    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.

  • Cannabis Investors Should Beware Money Laundering Risk

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    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.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    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.

  • UK Firms Should Be Prepared For Government Raids

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    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.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    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.

  • 3 Insurance Issues Raised By The Notre Dame Cathedral Fire

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    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.

  • Where The Post-Libor Litigation Tsunami Will Hit

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    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.

  • Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant

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    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.

  • UK Antitrust Watchdog Proposals Would Bolster Enforcement

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    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.

  • Guest Feature

    Preet Bharara On The Human Factor In The Justice System

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    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.

  • Considering A More Cost-Effective Future For The SFO

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    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.

  • Lessons From Carphone Warehouse's Partial FCA Settlement

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    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.

  • Collective Redress In The EU: Past, Present And Future

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    Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.

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