Insurance UK

Appointed Reps Reform Gives FCA Bigger Enforcement Hook

The U.K. government's plans to tighten the rules for appointed representatives will give the Financial Conduct Authority a far greater enforcement hook, making the regime costlier and harder to access by the companies it is designed to support, lawyers have warned.

Man outside a crown court in Southwark holding a disposable coffee cup.

The Biggest UK White Collar Cases Of 2025: Midyear Report

James "Jes" Staley's ill-fated legal battle over his ties to Jeffrey Epstein, the first conviction secured by Britain's sanctions' enforcer and Tom Hayes' Supreme Court victory are just a few of the big cases from 2025.

FCA Woodford Ban Signals Risks Of Star Fund Managers

The decision by the financial watchdog to provisionally fine and ban former fund manager Neil Woodford has sent a lesson to companies across the finance sector that the star status of some senior managers is up for review in the City.

One-pound and two-pound coins on a wooden table interspersed with a tape showing consecutive years.

Gov't Misses Chance To Go Big With New Pensions Body

The government launched a once-in-a-generation review of retirement savings on Monday, but experts warned that the new Pension Commission is a missed opportunity to take a no-holds-barred approach to tackle the savings crisis.

August 21, 2025
Injury Firm Seeks Guidance On Payouts For Trans Claimants

A personal injury law firm called for sector-wide guidance on compensation calculations for transgender claimants on Thursday, in order to prevent inequalities in payouts following the U.K. Supreme Court's controversial ruling on the definition of sex.
August 21, 2025
BoE Says No Urgent Need To Raise £85K APP Fraud Limit

The Bank of England called Thursday to keep the £85,000 ($114,000) limit for compulsory reimbursement of victims of authorized push payment fraud in payments made through the CHAPS settlements system at a time it is under review.
August 21, 2025
ABI Data Shows Insurers Paid £472M In Travel Claims For 2024

British insurance companies paid £472 million ($634 million) to settle travel insurance claims in 2024, the Association of British Insurers said Thursday.
August 21, 2025
FCA Warns Firms Of Failings In Algorithmic Trading Controls

The Financial Conduct Authority said Thursday that trading companies need to address deficiencies in algorithmic trading controls, noting poor record keeping with compliance staff lacking oversight of controls.
August 21, 2025
Health Insurance Uptick Fuels £123M Rise In UK Tax Revenue

Mounting pressure on Britain's public healthcare system is spurring the uptake of health insurance products and boosting government tax revenue, financial services consultancy Broadstone said Thursday.
August 21, 2025
Oxford Uni Sues Aviva Over COVID Interruption Insurance

A group of colleges and halls of residence of the University of Oxford have sued Aviva over the insurance giant's alleged failure to pay out for losses sustained during the COVID-19 pandemic.
August 20, 2025
Aviva, Tesco Launch Life Insurance Partnership

Aviva PLC said Wednesday that it has launched a new partnership with the insurance arm of Tesco that will give the customers of the grocery giant access to affordable life insurance programs.
August 20, 2025
Marine Insurers Warned Of Legal Risks From Modern Slavery

Insurers risk legal and reputational damage if they offer cover for shipping companies that rely on modern slavery in their business models, a trade body for the sector warned.
August 20, 2025
Fewer Pension Plans Granting Inflation-Driven Increases

Fewer U.K. pension plans are giving their members discretionary increases in retirement payments, with inflation lower and changes anticipated in how surpluses will be used, Aon PLC said Wednesday.
August 20, 2025
EU Finance Watchdog, EEA Sign Sustainability Agreement

The financial markets watchdog of the European Union said Wednesday that it has entered into an agreement with the European Environment Agency to strengthen cooperation in sustainable finance and enhance regulation across member states.
August 20, 2025
Eversheds, LCP Guide £700M Pension Deal For Engineer ABB

The British subsidiary of global electrical engineering giant ABB Group has agreed a full-scheme pension program buy-in worth £700 million ($945 million) with Aviva PLC, the insurer said Wednesday.
August 19, 2025
Athora, Brookfield Deals May Spur UK Pension Risk Appetite

A wave of consolidation among life insurers may mean deeper pockets to meet demand in the pension risk transfer market, a broker said Tuesday.
August 19, 2025
Aviva Backs AI Broker's Bid To Tackle Underinsurance

A company that says it is Britain's first artificial intelligence-based insurance broker has said it has raised almost £1 million ($1.28 million) from investors including Aviva and a venture capital firm in a preliminary funding round.
August 19, 2025
Bridgehaven Pens Deal To Support Solicitor Indemnity Market

British specialty insurer Bridgehaven has said it will support managing general agent Pen Underwriting and its solicitors' professional indemnity portfolio under a new partnership.
August 19, 2025
Pensions Watchdog Says £80M Returned To Scam Victims

More than £80 million ($108 million) has been paid out to pension savers who fell victim to scams, after a landmark court victory paved the way for compensation, the U.K. retirement savings watchdog said Tuesday.
August 19, 2025
Insurance Giant Gallagher Closes $13B AssuredPartners Buy

Arthur J. Gallagher & Co. has completed its $13.5 billion acquisition of independent rival AssuredPartners Inc. as the global insurance brokerage seeks to benefit from strengthening its niche industry expertise and growing its U.K. and Ireland operations.
August 18, 2025
Aviva Launches Flexible Annuity To Boost Retirement Control

Aviva said Monday that it has launched a new retirement income program that pays a guaranteed amount over a fixed term to give clients more control over their pension savings.
August 18, 2025
Gov't Group Drafts Rules For Funding Transition To Net-Zero

A government-backed body proposed a series of guidelines on Monday for lenders to provide credible transition finance to companies that plan to reduce a heavy reliance on fossil fuels to meet net-zero emissions goals.
August 18, 2025
Investor Sells 7 Assets To Dutch Pension Biz APG For £225M

Infrastructure Investment company HICL said Monday that it has offloaded a portfolio of mostly healthcare properties in the U.K. for approximately £225 million ($305 million) to Dutch pension services giant APG.
August 18, 2025
UK Launches State Pension Review Amid Aging Population

The government launched its third review into the state pension age on Monday to determine how lawmakers should go about setting the age at which Britons receive retirement payments in the future.
August 18, 2025
FCA Warns Of Consumer Risk In Pension Transfer Incentives

The City watchdog is concerned about the use of financial incentives used to encourage Britons to transfer their pensions, as it published a sweeping review of the impact of anti-fraud rules on the retirement sector.
August 18, 2025
Eversheds, Fieldfisher Guide Brother's £56M Pension Deal

The European arm of global electronics giant Brother Industries Ltd. has agreed to a £56 million ($76 million) full pension program buy-in with Just Group PLC, the financial services company said on Monday.
August 15, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Transport for London hit with a procurement claim by the operator of Oyster card, while Mastercard and Visa face claims from the Rocco Forte Hotel Group, and Liverpool Football Club lobbed a claim against a security company.
August 15, 2025
Slowest First Half Of Year Since 2021 For Insurance M&A

Mergers and acquisitions between insurance companies in Britain slowed significantly across the first six months of 2025 after a busy 2024, the slowest first half of a year since 2021, according to a company that keeps track of insurance deals.
August 15, 2025
Ombudsman Proposes Lower Fees For Faster Resolutions

The Financial Ombudsman Service has proposed a change to its fee structure to enable businesses to pay less if complaints are resolved early, part of its wider transformation.

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

FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
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.