The administrators of SSB Law have sued the collapsed firm's insurer for £19.5 million ($26 million), seeking to recover premiums the firm paid for insurance that covered its clients' cavity wall insulation claims.
The administrators of SSB Law have sued the collapsed firm's insurer for £19.5 million ($26 million), seeking to recover premiums the firm paid for insurance that covered its clients' cavity wall insulation claims.
Outsourcing giant Capita warned Thursday that problems administering the U.K. Civil Service Pension Scheme will cut its 2026 profit by up to £40 million ($54 million) and delay its return to surplus cash generation.
Compensation payments for people who were wrongly advised to transfer out of valuable final-salary pensions are expected to drop to a record low from July to October, an actuarial consultancy has said.
The City regulator said in its latest annual report on Thursday that it led an international crackdown on illegal financial promotions over the past year, making three arrests, requesting 650 social media takedowns and intensifying its fight against financial crime.
The European Union's top court ruled Thursday against an Austrian law that provided a value-added tax exemption for certain transactions in the banking and insurance sectors, holding that the tax break functioned as illegal state aid under EU law.
Britain's accounting watchdog said Thursday that 191 organizations meet the conditions to be signed up to its revised UK Stewardship Code, announcing that 290 businesses are now signatories to the framework.
Around 85% of personal, workplace and state pension records are now connected to the retirement savings dashboard system, the government has said, highlighting that the delayed program is on track to meet its Oct. 31 deadline.
Workplace pension scheme Nest plans to invest up to £1 billion ($1.3 billion) in growing private companies via a dedicated venture capital portfolio managed by Schroders Capital, to boost long-term returns and increase backing for British startups.
Economic uncertainty and a shortage of willing sellers have driven merger and acquisition activity in the U.K. insurance distribution sector to its weakest first-half level in nearly a decade, according to a consultancy.
