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Insurance UK
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April 23, 2025
Insurance Group JMG Buys 3 UK Brokers To Boost Presence
Insurance Group JMG Group said Wednesday that it has acquired three British brokers to integrate them with three of its own subsidiaries in a bid to strengthen its presence in the country.
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April 23, 2025
Pension Watchdog Clarifies Rules On Superfund Deals
The U.K. retirement savings watchdog said Wednesday that it wants to smooth out "friction points" that may be holding back further transactions in the burgeoning pensions superfund market.
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April 23, 2025
Childcare Act Expansion Could Boost Pension Pots By £1.2B
More parents reentering the workforce because of expanded childcare provisions in the U.K. could increase the retirement pots of savers by £1.2 billion ($1.6 billion), a pension provider said Wednesday.
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April 23, 2025
Gov't Insurance Tax Revenue Rises To £8.9B In 12 Months
The U.K. government earned a record £8.9 billion ($11.8 billion) through taxing insurance premiums in the financial year to April, official figures revealed on Wednesday.
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April 22, 2025
Gov't Delays Police Disability Benefit Reform
The Home Office said Tuesday that it will not introduce immediate reforms to benefits available to police officers who are injured in the line of duty, despite concerns that current rules might put officers with mental health conditions at a disadvantage.
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April 22, 2025
Sidley Steers Admiral's Sale Of US Insurance Biz
Admiral Group PLC said Tuesday it has agreed to sell its U.S. motor insurance business to private investment firm J.C. Flowers & Co. for an undisclosed cash amount.
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April 22, 2025
Pensions Bill For UK Businesses Shrinks Over 5 Years
The amount that businesses have had to plow into distressed pension funds has shrunk over the past five years because of rapid improvements in funding, a consultancy said Tuesday.
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April 22, 2025
Aviva Study Reveals 'Concerning Gap' In Pensions Knowledge
Only a third of savers in the U.K. can correctly identify a defined benefit or defined contribution pension plan, according to a study published by Aviva on Tuesday.
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April 22, 2025
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.
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April 22, 2025
Helvetia, Baloise Merge To Form 2nd-Largest Swiss Insurer
Swiss insurers Helvetia and Baloise said on Tuesday that they plan to merge in a move to create the second-largest insurance group in Switzerland, taking approximately 20% of the domestic market.
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April 17, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen the producers of West End show "Elf the Musical" face a contract dispute, Korean biotech company ToolGen Inc. bring a fresh patents claim against pharma giant Vertex, and ousted car tycoon Peter Waddell bring a claim against the private equity firm that backed his business. Here, Law360 looks at these and other new claims in the U.K.
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April 17, 2025
Insurance Regulators Urged To Address Climate Change Risks
Insurance regulators must strengthen their understanding of the threats posed by climate change and better consider how those risks will shape the stability of the sector, a group of international regulators said in a report.
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April 17, 2025
BoE Insurance Reforms Could Harm Pension Deal Prices
New freedoms that would allow insurers to invest more easily in a wider range of instruments could lead to reduced pricing for pension funds approaching the bulk purchase annuity market, a broker has said.
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April 17, 2025
Insurer Markel Buys Marine Specialist Underwriter Meco
Insurance company Markel has said it has penned a deal to buy The Meco Group, a specialist marine managing general agent, as it seeks to boost its range of services
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April 17, 2025
SFO Charges UK Insurance Broker With Bribery In Ecuador
The Serious Fraud Office said Thursday it has charged a Lloyd's of London broker with bribery, alleging that it failed to prevent a U.S.-based intermediary from making corrupt payments in Ecuador in order to secure contracts worth $38 million.
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April 23, 2025
Paul Weiss Adds 1st UK Fund Finance Pro From Proskauer
Paul Weiss said Wednesday that it has hired its first fund finance partner in London from Proskauer Rose LLP as it looks to better cater to the financing needs of clients in Europe and further afield internationally.
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April 16, 2025
FCA Proposes Data Reporting Cuts For 16,000 Firms
The Financial Conduct Authority proposed Wednesday to remove unnecessary data reporting for firms, in an effort to support U.K. economic growth.
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April 16, 2025
NHS Practice Manager Gets 7-Year Ban For Pension Failings
A former practice manager at an NHS surgery who did not pay more than £75,000 ($99,330) into the pension funds of staff has been banned from starting a new company for seven years over the failings, a government agency has said.
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April 16, 2025
EY Under Investigation Over UK Post Office Audits
The accounting watchdog said Wednesday that it has started an investigation into Ernst & Young LLP as auditor of the Post Office over financial shortfalls registered by postmasters around the country.
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April 16, 2025
UK Savers Favor 'Cautious Approach' To Pensions Investment
Almost half of savers in Britain want a cautious approach to investment in pension plans, with just 8% willing to invest in high-risk assets, according to research published on Wednesday by a retirement savings platform.
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April 16, 2025
FCA Plans More Changes To Simplify Investment Information
The financial watchdog said Wednesday that it plans to further simplify information provided to U.K. retail investors in post-Brexit Britain by removing the requirement for fund managers to report on small price movements while trades are executed.
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April 16, 2025
Cost Of Irish Private Health Insurance Rises By 9% In 2024
Private health insurance cover in the Republic of Ireland continues to expand, even though the cost of premiums rose by an average of 9.2% in 2024, the sector's watchdog has said.
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April 16, 2025
Reinsurer Compre Boosts Portfolio With Covéa US Unit Deal
Reinsurer Compre Group said Wednesday that it has bought a U.S. subsidiary of French mutual insurer Covéa, to add to its portfolio of legacy insurance companies.
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April 15, 2025
La. Parish Still Wants 5th Circ. To Remand Insurance Case
A Louisiana parish has again urged the Fifth Circuit to send its dispute over coverage for property damage caused by a pair of hurricanes back to district court, saying "everyone agrees" that the lower court made a procedural misstep that was subsequently wrongly appealed.
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April 15, 2025
UK Gender Pensions Gap Widening, PensionBee Finds
Male customers of PensionBee saved an average of £507 ($671) more in retirement plans than women did in 2024, according to figures published by the retirement savings provider.
Expert Analysis
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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.
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Collective Redress In The EU: Past, Present And Future
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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Lenders Score Major High Court Victory In Foreclosure Case
The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.
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3 Brexit Scenarios And Their Implications For US-UK Trade
Brexit negotiations are likely to result in one of three scenarios later this month: a Brexit deal, no Brexit at all or a "hard" no-deal Brexit. Each possibility will have different implications for the prospects of a U.S.-U.K. free trade agreement, says Dean Pinkert of Hughes Hubbard & Reed LLP.
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Frustrating Events: Are Your Contracts Brexit-Proof?
In Canary Wharf v. European Medicines Agency, the U.K. High Court recently ruled that the U.K.'s withdrawal from the European Union will not discharge the EMA's lease obligations. Following Brexit, most similar arguments invoking force majeure or frustration are unlikely to succeed, say Rebecca Dipple and Wayne Hofer of Orrick Herrington & Sutcliffe LLP.
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Simple Secrets For Writing A Killer Brief
These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.
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What 2019 Has In Store For UK Data Protection
Many of the big data protection compliance themes of 2018 will continue on this year, including even General Data Protection Regulation preparation, but the possibility of a no-deal Brexit may complicate matters, says Stewart Room of PwC LLP.