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Insurance UK
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March 21, 2025
Insurer MS Amlin To Write €110M For Ukraine War Facility
Lloyd's of London insurer MS Amlin said Friday that it has committed up to €110 million ($119 million) in reinsurance over five years to support war-risk policies underwritten by three Ukrainian insurers.
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March 21, 2025
FCA Probes Commission 'Concerns' Over Life Insurance Sales
The financial watchdog said that Friday it is launching a probe into whether insurance cover for critical illness or death in a family represents fair value to consumers, amid concerns over the sales of overpriced or unsuitable products.
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March 28, 2025
Simmons & Simmons Hires 4 Insurance Pros From Kennedys
Simmons & Simmons LLP has hired a team of four lawyers from Kennedys to boost the international insurance claims service at its London office.
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March 21, 2025
Underwriter Ignite Launches Litigation Cover In Europe
Insurance business Ignite Specialty Risk said it will start offering litigation cover in the European Economic Area, following new legislation on class action.
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March 20, 2025
Gallagher Hits Back At Former CEO's £1.5M Claim For Losses
Arthur J. Gallagher & Co.'s benefits and consulting arm denies that it owes a former chief executive of a company it acquired £1.55 million ($2 million) on his claim that it failed to manage the business correctly, as legal wrangling over the acquisition continues.
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March 20, 2025
Audit Watchdog Pledges Support For Gov't Growth Priority
The audit watchdog said Thursday it will adjust priorities to support U.K. economic growth better in its new three-year strategy, in line with government priorities.
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March 20, 2025
Gowling, Sackers Steer £785M Pension Deal For Crops Biz
An agricultural giant has offloaded £785 million ($1 billion) of its pension liabilities to Legal & General Assurance Society Ltd., the insurer said Thursday, in a deal guided by Gowling WLG, Sacker & Partners LLP and Clifford Chance LLP.
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March 20, 2025
Firms Still See Pension Schemes As Risk, Despite Surplus
Most company bosses see their pension scheme as a financial risk, despite planned reform that will allow excess funding to be reinvested in the business, a professional services firm warned.
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March 20, 2025
MPs Urged To Block FCA Email Deletion Policy
Lawmakers should prevent the Financial Conduct Authority from going ahead with its "draconian and opaque" policy to delete staff emails after a year, consumer groups and advocates said Thursday.
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March 20, 2025
Gov't Growth Priority Forces FCA To Reassess Consumer Risk
Moves by the U.K. government to force the financial watchdog to back economic growth with more relaxed regulatory controls could expose consumers to harm, leaving regulators with no clear idea of what risk levels would be politically tolerable.
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March 19, 2025
Group Status Prohibits VAT, Prudential Tells UK Top Court
Prudential disputed a value-added tax claim on £9.3 million ($12.1 million) in performance fees at the U.K. Supreme Court on Wednesday on the grounds that the business providing the services was a part of the same group as Prudential for tax purposes.
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March 19, 2025
Freshfields Guides €3.5B Sale Of Life Insurer Viridium
A consortium that includes German insurer Allianz said Wednesday that it would buy a controlling stake in European life insurance consolidator Viridium Group from Cinven Group Ltd, a private equity firm, for €3.5 billion ($3.8 billion).
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March 19, 2025
UK Regulator OKs Aegon Unit's First Long-Term Asset Fund
Aegon Asset Management said Wednesday that the Financial Conduct Authority had greenlighted its plan to launch its open-ended fund vehicle to offer investors regulated access to illiquid assets.
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March 19, 2025
Pressure Grows On State Pension As Life Expectancy Rises
Life expectancy for the U.K. grew for the first time since the COVID-19 pandemic between 2021 and 2023, according to official data, suggesting further strain on taxpayers footing expected state pension cost increases.
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March 19, 2025
Swiss Bank Accused Of Ignoring $1B Kuwaiti Bribery Scheme
A Swiss bank turned a blind eye to a scheme of corrupt payments orchestrated by the former director of Kuwait's pensions authority by failing to make reasonable inquiries into suspicious accounts, lawyers for the body told a court on Wednesday.
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March 19, 2025
FCA Urged To Act As Insurance Finance Rates Still High
The Financial Conduct Authority must be prepared to take tough action against insurers on premium finance, a consumer group warned, as it revealed that interest charged on monthly repayments was still above 30% despite repeated warnings from the regulator.
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March 19, 2025
European Insurance M&A Deals Hit Record 20% In 2024
The number of deals involving European insurance businesses rose by 20% in 2024, largely driven by an increase in consolidation among brokers and service providers, a consultancy said Wednesday.
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March 18, 2025
Minister Defends Rejection Of Pension Redress For Women
The U.K. government did not ignore a parliamentary report that condemned historic state failures to inform women their state pension age had changed, but came to a "different conclusion" in a "rare, but not unprecedented" move, the pensions minister said Monday.
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March 18, 2025
Watchdog Probes MHA's Audit Of Failed UK Builder ISG
The accounting watchdog said Tuesday that it has launched an enforcement investigation into accountancy firm MacIntyre Hudson LLP over its audit of failed construction services company ISG Ltd.
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March 18, 2025
Gowling-Led Church Of Scotland Seals £75M Pension Buy-In
The Church of Scotland offloaded £75 million ($97.3 million) of its pension scheme liabilities to London-listed Just Group PLC, the insurer said Tuesday, in a deal guided by Gowling WLG and Burness Paull LLP.
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March 18, 2025
Treasury Meets Fintech Bosses On Growth, Scrapping Rules
Chancellor Rachel Reeves met bosses of financial technology companies on Tuesday to discuss growth opportunities and new legislation to scrap unnecessary rules and boost capital markets, according to HM Treasury.
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March 18, 2025
Aspen Says Frost Damage Excludes Pellet Maker's £4M Claim
Aspen Insurance UK has argued it was right to deny a £4.2 million ($5.6 million) claim by a wood pellet manufacturer seeking to cover losses sustained after damage to its production equipment because the cause of the damage was excluded from the policy.
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March 17, 2025
Insurers Fight For Arbitration In La. Hurricane Damage Dispute
A group of insurers is urging the Fifth Circuit to send its dispute with a Louisiana municipality over coverage for property damage caused by a pair of Category 4 hurricanes to arbitration, despite an opposing ruling last fall by the state's top court.
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March 17, 2025
9 In 10 Providers Using AI, Pensions Body Says
Almost 90% of organizations in the pensions sector already use artificial intelligence at work, according to a survey published Monday by the Society of Pension Professionals.
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March 17, 2025
Kuwait Pension Fund Says Director Ran $1B Bribery Scheme
The former director of Kuwait's pensions authority orchestrated a two-decade-long "unlawful scheme of corrupt payments" in excess of $1 billion, lawyers for the authority said at the opening of a bribery trial in London on Monday.
Expert Analysis
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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.
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Opinion
Brexit International Arbitration Clause Is Misunderstood
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.
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The Lawyer's Daily
How To Requalify As A Lawyer In Canada
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.
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Legal Technology Is Likely To Flourish In The UK
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.
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Opinion
Legal Operations Teams Are Gaining Popularity In EU
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.
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Why Proper Document Redaction May Be An Ethical Duty
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.
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Why The Flood Of GDPR Litigation Has Been Delayed
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.
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Opinion
Law Schools Should Be More Like Medical Centers
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.