Insurance UK

Gov't Reforms Needed To Unlock FCA's Targeted Support Plan

The financial watchdog's planned "targeted support" program for consumers requires government legislation or guidance to remove legal obstacles to direct marketing — and regulatory experts expect the first step to come at the Mansion House address by Chancellor Rachel Reeves late on Tuesday.

Staley Tribunal Decision Could Fuel Challenges To FCA Fines

A landmark tribunal ruling that upheld the Financial Conduct Authority's ban of ex-Barclays CEO James "Jes" Staley from banking — but slashed his fine — could ultimately lead other executives with back-loaded pay packages to fight the watchdog's decisions, lawyers say.

USA Tariffs Tape in front of flagged containers

Insurers Brace For Disputes When US Tariff Pause Ends

The global economy is braced for further trade volatility in the coming months as a temporary pause on U.S. punitive tariffs on countries that have not struck trade deals expires on Aug. 1, with many experts predicting an increase in insurance disputes.

Wider FCA Misconduct Rule Risks Over-Reporting Of Staff

The rule change proposed by the Financial Conduct Authority on non-financial misconduct for 37,000 companies outside the banking sector will generate pressure on businesses to protectively report employees to the regulator rather than risk later accusations of noncompliance.

July 15, 2025
Insurers Keen On UK Captive Regime But Fear 'Gold-Plating'

The government has proposed new rules that it hopes will transform the U.K. into a global hub for captive insurance — but experts say that with formal regulation still to come they fear that "the devil will be in the detail."
July 15, 2025
UK's Large Employers Pledge To Prioritize Pension Outcomes

More than 20 of Britain's largest employers, including Goldman Sachs and Tesco, have committed to prioritizing retirement outcomes for their workers when they choose pension providers rather than focusing on reducing costs, the City of London Corp. has said.
July 15, 2025
Broker Beats Ex-Employee's Claim She Was Forced To Quit

An employment tribunal has ruled that an insurance broker didn't force an executive assistant to resign by adding more responsibilities to her role after a part-time colleague left.
July 15, 2025
CMS, Burges Salmon, Sackers Aid £800M Honda Pension Deal

Legal & General has completed an approximately £800 million ($1.07 billion) buy-in transaction to acquire the pensions of more than 4,700 members of the Honda Group UK Pension Scheme in a deal guided by CMS, Burges Salmon LLP and Sackers.
July 15, 2025
Insurers Warned Over Credit Risk From Adopting AI

Insurers that adopt artificial intelligence tools without properly managing their associated risks could face financial damage and harm to their reputations, a credit ratings agency warned on Tuesday.
July 15, 2025
UK To Ease Senior Manager Rules Amid Regulatory Overhaul

The government unveiled a raft of reforms to financial services regulation on Tuesday as it seeks to encourage investment in the economy, a package that includes streamlined rules for senior managers and easier capital requirements for lenders.
July 15, 2025
Gov't Confirms Plans For New UK 'Captive Insurance' Regime

The government said Tuesday that it plans to push ahead with new rules to support the development of a captive insurance industry in the U.K., a move designed to boost global competitiveness.
July 14, 2025
Insurance Co. Accuses Ex-CEO Of Siphoning £19M At Trial

An insurance company accused its former chief executive and a director at the start of a London trial on Monday of misappropriating millions of pounds by siphoning money from the business for his own financial benefit.
July 14, 2025
Audit Watchdog Proposes Changes To Digital Reporting Guide

The Financial Reporting Council on Monday revealed plans to update its taxonomy suite to reflect changed accounting rules and other regulatory requirements.
July 14, 2025
Howden Says Rival's Exodus Was Inevitable In Poaching Case

Howden has rejected claims that it plotted to damage rival Acquinex when it decimated its warranty and indemnity team by poaching 32 employees in its own underwriting division, telling a London court the employees would have left anyway.
July 14, 2025
Financial Standard-Setter Says Work Needed On Climate Risks

A global standards-setter said Monday there has been good progress on a number of areas it mapped out in 2021 to tackle climate-related financial risks, but that work still needs to be done.
July 14, 2025
HSBC Becomes Latest Bank To Quit Net Zero Finance Group

HSBC has become the latest bank to quit a global banking coalition focused on mitigating climate change in alignment with the Paris Agreement, following multiple recent departures by lenders.
July 14, 2025
Investment Association Urges Better Support For UK Retirees

The Investment Association has said Britain can do more to help its savers use their money more wisely once they retire, mapping out a string of proposals it said would support better outcomes in later life.
July 11, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen HS2 hit with a defamation claim by two ex-employees who blew the whistle on alleged under-reporting of costs, Craig Wright and nChain face legal action brought by its former chief financial officer over a fraud scheme, and pro-footballer Axel Tuanzebe bring a clinical negligence claim against his former club Manchester United F.C. Here, Law360 looks at these and other new claims in the U.K.
July 11, 2025
ESMA Warns Crypto Firms To Clarify Unregulated Products

The European Union's financial markets watchdog said Friday that regulated crypto-asset service providers must make it clear to consumers which of the products and services they offer are unregulated.
July 11, 2025
Lloyd's Trade Body Warns Of Risks After Houthi Ship Attacks

A Lloyd's of London trade body has urged caution to cargo companies and their insurers operating in the Red Sea after two deadly attacks by Houthis on shipping vessels this week.
July 11, 2025
Irish Gov't Abandons Plans To Raise Personal Injury Awards

The Irish government has confirmed it will not be going ahead with a controversial proposal to raise personal injury awards standards by 16.7%, lawmakers have said.
July 11, 2025
Ex-Insurance CEO's Wife Can't Ax £15M Asset Freeze

A London appeals court upheld a £15 million ($20.3 million) asset freeze on Friday against the wife of a former insurance company executive who is accused of cashing in on money her husband siphoned off from the business.
July 10, 2025
Addleshaw Guides European Acquisition Of UK Pet Insurer

European pet health insurance company Santévet Group has acquired a majority stake in U.K.-based animal insurer Tedaisy Insurance Group, in a deal announced by advisers Addleshaw Goddard on Thursday.
July 10, 2025
Aegon Urges Bold Pension Reforms In Anticipated UK Review

The U.K. government should launch its pensions adequacy review as part of its annual financial services strategy announcement next week, an insurer said Thursday.
July 10, 2025
FCA Plans Investor Rule Overhaul To Boost Capital Markets

The Financial Conduct Authority said Thursday that it will amend its client categorization rules in a bid to encourage wealthy and experienced investors to plow more cash into London's ailing equity capital markets.
July 10, 2025
L&G, Blackstone Join To Boost Annuities, Asset Management

Legal & General Group PLC said Thursday that it has penned a private credit partnership with Blackstone, the alternative asset management giant.
July 10, 2025
BoE Head Bailey Opposes Gov't Pension Investment Mandate

The governor of the Bank of England has said he disagrees with the idea of requiring pension funds by law to invest in U.K. assets, in an intervention that experts say could have a knock-on effect for flagship legislation for the sector.
July 09, 2025
Sweden Wins €60M Pension Fraud Case Against Financier

A London court has ruled that a financier defrauded the Swedish government by setting up an illegitimate investment fund that took €60.7 million ($71.1 million) from savers' pension accounts.
July 09, 2025
Gov't Urged To Review State Pension As Cost Estimates Rise

The government should launch a review into whether to maintain the state pension triple lock, experts suggested, after it emerged that the cost of maintaining the policy will increase to more than £15.5 billion ($21.1 billion) a year by 2030.

Editor's Picks

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.
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.
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

How Regulators Want Online Platforms To Fight Finance Fraud

Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
FCA Notes Industry Criticism But Keeps Transparency Focus

The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
Court Backing Of FCA Pensions Ruling Sends Key Message

The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
Pension Schemes Bill's Most Notable, Controversial Measures

The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an €855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.
UK Securities Tax Reform Will Be Welcomed By Investors

The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.
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.
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.
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.
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.
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.
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.
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.
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.
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.