Insurance UK

  • March 05, 2025

    Intermediary SRG Buys Modified Car Insurance Broker

    U.K. insurance intermediary Specialist Risk Group has bought Brentacre, a broker that insures modified and performance vehicles, saying the purchase aligns with its strategy of partnering with niche businesses.

  • March 04, 2025

    Cinema Chain Says Landlord Overcharged For Premiums

    Cinema companies who leased part of the landmark Trocadero building in London's well-known Piccadilly Circus accused their landlord of breaching the rental agreement by overcharging them for insurance premiums at the start of a London trial Tuesday.

  • March 04, 2025

    Pension Schemes Post Record-Breaking Consolidation

    Britain's retirement savings watchdog said Tuesday the number of defined contribution pension schemes decreased 15% in 2024 to 920 — dropping to fewer than 1,000 plans for the first time.

  • March 04, 2025

    Insurers To Benefit From Italy's Mandatory Catastrophe Cover

    European insurers can expect a boost to revenue after Italy introduced a new requirement for businesses to buy natural catastrophe cover from the end of March, a ratings agency has said.

  • 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.

Expert Analysis

  • 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.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    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.

  • 3 Brexit Scenarios And Their Implications For US-UK Trade

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    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.

  • Frustrating Events: Are Your Contracts Brexit-Proof?

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    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.

  • Simple Secrets For Writing A Killer Brief

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    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.

  • What 2019 Has In Store For UK Data Protection

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    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.

  • Opinion

    Brexit International Arbitration Clause Is Misunderstood

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    Much of the criticism aimed at the international arbitration clause in the recent Brexit withdrawal agreement unfairly identifies a perceived lack of transparency and appears to be based on a lack of understanding about the process, says Margarita Michael of O'Melveny & Myers LLP.

  • The Lawyer's Daily

    How To Requalify As A Lawyer In Canada

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    Becoming a lawyer in Canada is a challenging experience for foreign qualified lawyers. In addition to the bar exam, hurdles include obtaining certification from the National Committee on Accreditation, and complications from moving to Canada halfway through the process, says Kyle Abrey, in-house counsel at the Royal Bank of Canada.

  • Legal Technology Is Likely To Flourish In The UK

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    The U.K. may soon surpass the U.S. in legal technology, thanks to regulatory reform, law firm investment and an entrepreneurial environment, says Bridget Deiters of InCloudCounsel.

  • Opinion

    Legal Operations Teams Are Gaining Popularity In EU

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    As the European and global economies continue to change, any legal department that does not want to get outflanked by faster, more agile competitors should consider the value that legal operations teams have to offer, says Hans Albers, president of the Association of Corporate Counsel Europe.

  • Why Proper Document Redaction May Be An Ethical Duty

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    Paul Manafort's attorneys recently filed a court document containing incompletely redacted information, highlighting the need for attorneys to become competent at redaction — or at least at verifying that redaction has been performed correctly. Failure to do either could be construed as legal malpractice, says Byeongsook Seo of Snell & Wilmer LLP.

  • Why The Flood Of GDPR Litigation Has Been Delayed

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    Eight months into the General Data Protection Regulation regime, we have not yet seen the expected deluge of U.K. class actions, but be warned — the floodgates will not remain closed, says Bryony Hurst of Bird & Bird LLP.

  • Opinion

    Law Schools Should Be More Like Medical Centers

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    Medical centers and their faculty matter to the practice of medicine. Law schools and their faculty do not matter to the practice of law, says J.B. Heaton of J.B. Heaton PC.

  • Opinion

    Courts Are Getting It Right On Litigation Funding Discovery

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    Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.

  • Worldwide Freezing Orders Can Backfire Without Proper Care

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    Worldwide freezing orders, which preserve a respondent's assets until the outcome of the substantive case, are an important weapon in the arsenal of a commercial litigant. However, as FSDEA v. Dos Santos demonstrates, courts lay heavy obligations upon WFO applicants, says Nicola McKinney of Grosvenor Law Ltd.

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