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Insurance UK
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June 12, 2025
Broadstone Buys ExactVAL To Boost Pension Transactions
Retirement consultancy Broadstone said Thursday it has bought actuarial service provider ExactVAL to support insurers in carrying out pension transactions.
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June 12, 2025
Gowling Steers Pension Insurer's £150M Buy-In For Reach
Just Group, a pensions insurer, revealed on Thursday it has taken on retirement plan liabilities worth £150 million ($204 million) from a program sponsored by publishing giant Reach.
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June 12, 2025
UK Insurers Press Gov't For Long-Term Flood Resilience Plan
Britain's insurance sector has welcomed £4.2 billion ($5.7 billion) in government spending earmarked for flood defenses, but says more needs to be done.
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June 12, 2025
Baker McKenzie Guides Credit Agricole's €345M Care Biz Deal
The healthcare subsidiary of French banking giant Crédit Agricole SA said Thursday that it will buy Petits-fils, an at-home services provider for the elderly in France, for €345 million ($400 million) from French care provider Clariane SE.
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June 12, 2025
5 Questions For Howard Kennedy Partner Rebecca Hume
The U.K government is putting crypto-assets at the heart of its growth agenda, relying on the Financial Conduct Authority to shore up regulation of the sector.
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June 11, 2025
UK Growth Push Puts FCA Enforcement On Unfamiliar Footing
The government's demand that regulators should prioritize growth is "largely incompatible" with their duty to deter misconduct, say lawyers who are warning clients not to interpret the political messaging as a green light to engage in risky behavior.
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June 11, 2025
EU Insurers Push For Major Cuts To Sustainability Reporting
A trade body for European insurers has urged the EU to "substantially" reduce the scale of one of its flagship sustainability reporting regimes, arguing that the framework needs clarification and simplification.
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June 11, 2025
EU Lawmakers Urged To Boost Share Settlement Competition
A trade body for financial institutions in Europe has asked lawmakers to prioritize making clearing and settlement service more competitive in plans to integrate and grow European Union capital markets.
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June 11, 2025
Irish Health Insurance Uptake Dips As Prices Rise
Ireland's Health Insurance Authority reported on Wednesday that the number of policies purchased in the sector has fallen, amid indications that rising prices for cover could be affecting the market.
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June 11, 2025
FCA Warns Financial Advisers Of Retirement Advice Failings
The City watchdog said Wednesday that it has found that companies providing retirement income advice are failing to record clients' financial situations or revisit their attitude to risk in a thematic review.
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June 11, 2025
Nearly 80% Of Trustees Plan To Access Pension Surplus
More than three-quarters of retirement savings plan trustees have said they are planning to use new powers floated by the government that will allow them to distribute surpluses tied up in their schemes, a consultancy has said.
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June 11, 2025
War Risk Insurers Held Liable For Jets Stranded In Russia
Major insurers are liable to payout in a multibillion-dollar dispute over hundreds of aircraft stranded in Russia following the invasion of Ukraine in 2022, after a London judge ruled on Wednesday that the jets and engines are officially lost.
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June 10, 2025
Underwriters Back Ethnicity, Disability Pay-Gap Reporting
A British trade group for underwriters said Tuesday that it backed recent government plans to introduce mandatory reporting on ethnicity and disability pay gaps, but said policymakers should ensure data is collected safely to preserve anonymity.
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June 10, 2025
Insolvency Service Hires Crypto-Specialist To Aid Recoveries
A U.K. government agency responsible for investigating company insolvencies has appointed its first crypto-specialist to help recover digital assets such as bitcoin for creditors.
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June 10, 2025
Expanding FCA Taps Ex-Crime Agency Exec As Deputy CEO
The Financial Conduct Authority said Tuesday that it has appointed Sarah Pritchard, a qualified litigator and former director of the National Economic Crime Centre, as deputy chief executive to handle its expanding remit.
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June 10, 2025
Insurers Using More 'Sweep-Up' Clauses In Policies
Insurers might increasingly be using "sweep-up" clauses in contracts to circumvent policyholder protections introduced in landmark legislation a decade ago, a trade body warned Tuesday.
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June 10, 2025
FCA's Rathi Tries To Gauge Gov't Risk Appetite For Crypto
The Financial Conduct Authority warned a cross-party group of MPs on Tuesday it needed a steer on the government's risk appetite for crypto-assets amid the push for U.K. competitiveness and economic growth.
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June 10, 2025
Cosmetics Studios Sue Beazley Over COVID Business Losses
Almost 70 cosmetics clinics, including tattoo studios and a flotation therapy center, have sued two Lloyd's of London syndicates managed by Beazley for losses they claimed to have incurred after temporarily closing during the COVID-19 pandemic.
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June 09, 2025
Canadian Insurer Intact Financial Warns Of US Political Risks
The boss of one of Canada's largest insurance companies warned Monday that the sector needs to "prepare for the worst" in relation to democratic institutions in the U.S.
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June 09, 2025
UK Leads Europe On FDI In Financial Services, EY Says
The U.K. continues to be Europe's most attractive destination for foreign direct investment into financial services, despite a drop in the number of projects across the region, Ernst & Young said on Monday.
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June 09, 2025
FCA Proposes Reporting Changes For Fund Managers
The Financial Conduct Authority has proposed that it will reduce requirements for U.K. fund managers on how they report on value for investors, a move that would enable significant cost cuts.
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June 09, 2025
Broking Group Howden Buys Peruvian Reinsurance Biz
Howden Group said Monday that it has bought Peruvian reinsurance broker Innova Re, marking a further broadening of the insurance broking giant's footprint in Latin America.
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June 09, 2025
Phoenix Group Denies Cutting Ex-SunLife CEO's Pay By £9M
Insurance business Phoenix has denied short-changing the former chief executive of its SunLife subsidiary by £8.9 million ($12.1 million), telling a London court that his "extremely generous" £15.4 million payout was fair.
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June 09, 2025
FCA, NVIDIA Team Up To Launch AI Testing Sandbox
The Financial Conduct Authority said Monday it will launch a supercharged sandbox in collaboration with multinational technology company NVIDIA to help firms experiment safely with artificial intelligence to support innovation.
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June 06, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen MGM and the owners of the "Addams Family" trademark sue a private equity firm, two Cambridge colleges file for injunctions against Pro-Palestine student protest groups and a former NBA player brings a claim against Orrick Herrington & Sutcliffe LLP.
Expert Analysis
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Competing Legal Factors Vex Insurance Arbitration Disputes
The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.
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Cannabis Investors Should Beware Money Laundering Risk
Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.
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Real-Life Lessons For Lawyers From 'Game Of Thrones'
What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.
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UK Firms Should Be Prepared For Government Raids
Recent enforcement activity from the Financial Conduct Authority and other regulators highlight the penalties firms face for procedural breaches, and the value in ensuring that employees are well-equipped to handle unannounced inspections, say James Marshall and Sonja Hainsworth of Bryan Cave.
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Series
Why I Became A Lawyer: Completing The Journey Home
My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.
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3 Insurance Issues Raised By The Notre Dame Cathedral Fire
The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.
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Where The Post-Libor Litigation Tsunami Will Hit
The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.
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Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant
The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.
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UK Antitrust Watchdog Proposals Would Bolster Enforcement
The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.
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Guest Feature
Preet Bharara On The Human Factor In The Justice System
A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.
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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.