Insurance UK

FCA's Tokenization Plan May Heighten Financial Crime Risk

The Financial Conduct Authority's planned tokenization regime to help asset managers trade investment funds as digital assets could expose investors to financial criminals lurking in crypto-markets, with the regulator's "targeted support" rules multiplying the risk, lawyers have warned.

Surface of polluted water reflecting sunlight with a leaf.

'Forever Chemicals' Pollution Claims Seeping Into UK Courts

Litigation over widely used "forever chemicals" that has led to big payouts in the U.S. could become a source of significant exposure for insurers and their policyholders in the U.K. following a recent settlement.

View of the wheels of a row of cars lined up.

Senior Managers At Risk In FCA's £8B Motor Finance Plan

The Financial Conduct Authority's proposed £8.2 billion ($11 billion) car finance redress scheme would force senior managers of lenders to put their heads on the block by attesting that they have adequate systems to identify customers for compensation, with wrong decisions risking enforcement action by the regulator, lawyers have warned.

FCA's Crypto Rules Risk Abuse Without Tailored Safeguards

The proposed U.K. crypto-asset regime risks abuse because it tries to clamp traditional finance rules on to a digital asset class, leaving gaps which expose unwary investors to criminals unless new safeguards are added, legal experts have warned.

October 17, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Johnson & Johnson hit with a £1 billion ($1.34 billion) claim for allegedly selling contaminated baby powder, Carter-Ruck bring a claim against the Solicitors Regulation Authority, and Hewlett Packard file a probate claim against the estate of Mike Lynch.
October 17, 2025
Global Watchdog Calls On Countries To Monitor Crypto Better

An international securities watchdog called on countries Friday to monitor risks in crypto-assets and share regulatory information better across borders.
October 17, 2025
Civil Service Pension Administrator Denies Union Recognition

The organization managing a pension fund for civil servants has told MPs that it has never officially recognized a staff union, even as it prepares to hand over the reins to private sector giant Capita.
October 17, 2025
UK Local Gov't Pension Funding Soars Ahead Of Reforms

The U.K.'s sprawling municipal retirement plan is now worth an estimated £450 billion ($604 billion), a consultancy said Friday, ahead of government plans to consolidate the highly fragmented scheme into several pension mega-funds.
October 17, 2025
Chancellor Launches Service To Support Overseas Investors

HM Treasury said Friday that it has launched a free "concierge" service in partnership with finance regulators to remove barriers for global firms investing in U.K. financial services.
October 17, 2025
Freshfields-Led Vienna Insurer To Buy German Rival For €1.4B

Vienna Insurance Group has agreed to acquire all the shares of its German rival Nürnberger Beteiligungs AG for €1.38 billion ($1.61 billion) in a move to strengthen its position in Central Europe.
October 16, 2025
Insurers Settle Bid To Arbitrate $7M La. Hurricane Ida Case

A group of domestic and foreign insurers including underwriters at Lloyd's of London have asked a Louisiana federal judge to dismiss their lawsuit seeking an order to arbitrate a $7 million Hurricane Ida damage claim, saying they have settled the dispute.
October 16, 2025
CMA Calls For Reforms To UK Veterinary Market

The U.K.'s competition watchdog has called on the £6.3 billion ($8.5 billion) veterinary services market to provide better information on prices after a spike in insurance claims at major players drove up costs, despite no evidence of better services.
October 16, 2025
Axa Teams With Insurtech For Embedded Insurance Project

An Axa unit and insurance technology firm Bolttech have launched a long-term partnership to grow their presence in the rapidly growing embedded insurance sector across the U.K. and Europe.
October 16, 2025
Insurers Pay Into $340M UN-Backed Fund For Developing States

Insurers have contributed to a $340 million fund for infrastructure projects in developing countries, an industry body said Thursday, as part of a United Nations-backed program to close the global protection gap.
October 16, 2025
Marsh Unit Warns Against Mandating Pension Investments

Pension funds must be primarily focused on getting the best income in retirement for their members rather than propping up the national economy, a unit of insurance giant Marsh McLennan warned.
October 16, 2025
UK Pension Funds Double Investment In Private Economy

Pension schemes have doubled their investment in private companies to £1.6 billion ($2.15 billion) in one year as part of their commitment to allocate a greater portion of their funds to investing in privately held companies, the Association of British Insurers said Thursday.
October 15, 2025
Reinsurers Deny Liability To Chubb Over Bill For Aircraft Loss

Reinsurers including AIG and AXA have denied liability for Chubb's $5.7 million bill to aircraft lessors for losses caused by Russia's invasion of Ukraine, saying Chubb's losses were not caused by any failure by the reinsurers to indemnify the lessors.
October 15, 2025
Pension Run-On Could Generate Millions For UK Businesses

Businesses could see a multimillion-pound boost from allowing their pension schemes to continue generating investment returns rather than rushing into offloading liabilities to an insurer, a consultancy said Wednesday.
October 15, 2025
London Insurers Push For Growth-Friendly Regulation

Lawmakers and policy officials must regularly review how Britain's regulators are fulfilling their competitiveness objective to make good on their growth mandates, a trade body for the insurance sector said.
October 15, 2025
FSCS To Protect 16,000 Policyholders After Insurer Fails

The Financial Services Compensation Scheme said it will step in to protect 16,000 U.K. policyholders and small business owners, after Gibraltar-based Premier Insurance Company Ltd. collapsed.
October 15, 2025
Insurance Broker Specialist Risk Adds Rival's Wholesale Team

Specialist Risk Group has boosted its operations in London by acquiring a wholesale team from rival Lockton as the insurance intermediary seeks to strengthen relationships with retail brokers and expand its services.
October 15, 2025
Capita Fined £14M For Cyber-Failures In Pensions Breach

The data watchdog said on Wednesday that it has fined outsourcing company Capita £14 million ($18.7 million) for failures in holding personal data security during a cyberattack in 2023 in which the information of 6.6 million people was stolen.
October 14, 2025
FCA Sets Out Digitalization Plans For Asset Managers

The Financial Conduct Authority proposed new rules on Tuesday to help asset managers trade funds as digital assets, with the aim of increasing innovation and global competitiveness.
October 14, 2025
UK Eyes Widening Access To Local Gov't Pension

Policymakers have proposed widening access to the Local Government Pension Scheme for councilors and mayors in England in a move that would align the country with others in Britain.
October 14, 2025
Most DB Pension Funds To Shun UK Growth Assets This Year

Pension bosses in the £1.4 trillion ($1.8 trillion) defined benefit pension sector are unlikely to put money into U.K. growth assets over the next year, a survey found Tuesday, despite government efforts to galvanize parts of the industry into domestic investment.
October 14, 2025
Insurers Likely To Face Up To $600M Bill From First Brands

Trade credit insurers are likely to have to see claims capped at $600 million for the collapse of U.S. auto parts supplier First Brands, a ratings agency said.
October 14, 2025
Oakley Capital Invests £10M In Health Insurance Provider

Oakley Capital Investments Ltd. said Tuesday its platform is investing in Italian private healthcare insurance provider ONHC. OCI's share of Oakley Capital's investment in ONHC is anticipated to be around £10 million ($13.3 million).
October 14, 2025
Sharp Rise In 'Nationally Significant' UK Cyberattacks

Britian's cybersecurity agency said Tuesday that it has handled an average of four "nationally significant" cyberattacks every week in the last year, more than double the number in the previous 12 months.
October 14, 2025
Malibu Life To Buy Texan Life Insurer TruSpire For $45M

Malibu Life Holdings Ltd. said Tuesday that it will buy life and retirement insurance business TruSpire from Mutual of America Life Insurance Co. for $45 million to enter the U.S. direct annuity issuance business.

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

What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
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.