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Insurance UK
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May 16, 2025
Investor Pulls De La Rue Bid Amid Competing Offer
Two investors, Pension SuperFund and Disruptive Capital, have pulled their bid of approximately £260 million for De La Rue after the banknotes maker backed a rival £263 million offer from U.S. investment firm Atlas Holdings LLC.
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May 15, 2025
Gov't Urged To Overhaul Scam Rules Amid Pension Delays
The government must reform its scam protection regulations in the face of spiraling delays in transferring pension savings, a retirement savings provider warned Friday.
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May 15, 2025
UK Floats Local Gov't Pension Fixes To Tackle Discrimination
The U.K. government on Thursday proposed making all maternity, shared parental and adoption leave automatically pensionable for members in the Local Government Pension Scheme, among a raft of changes it said would boost benefits and end "years of discrimination."
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May 22, 2025
Freeths Hires Pensions Specialist From Simmons & Simmons
Freeths has hired James Dean, a pensions specialist from Simmons & Simmons LLP, to lead the growth and development of the firm's national pensions practice.
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May 15, 2025
Legal Costs Insurer On The Hook For £83K Payout To Ex-Exec
A legal expenses insurer could owe more than £80,000 ($106,000) to a former executive after a tribunal found that his insolvent employer's prolonged failure to pay wages and commission amounted to a fundamental breach of contract.
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May 15, 2025
Ex-Managing Partner Fights To Redo Costs After Bias Case
The former managing partner of a law firm argued Thursday that a tribunal failed to consider his ability to pay up to £210,000 ($278,8300) after he tried to claim both income protection insurance and a share of its while off sick with cancer.
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May 15, 2025
Strong Support For Simplifying Digital Reporting, FRC Says
The Financial Reporting Council on Thursday said it has received backing for continued collaboration between regulators to reduce complexity around digital reporting, adding support for a range of proposals that could shape future electronic disclosures in Britain.
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May 15, 2025
Insurers Fear Regulatory Scrutiny Is Stalling AI Adoption
Lloyd's of London insurers fear failure to comply with regulations on artificial intelligence is blocking wider take-up of the technology, according to research published on Thursday.
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May 15, 2025
Brabners Guides Telecoms Biz In £63M Pension Deal
Telecommunications company CommScope has offloaded £63 million ($8 million) of its U.K. pension liabilities to insurer Aviva PLC, advisers have said, in a deal guided by Brabners.
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May 14, 2025
Kirkland-Led Equity Firm To Buy UK Insurance Broker JMG
GTCR Inc. has said that it has penned a deal to acquire JMG Group in an acquisition the U.S. private equity firm hopes will help to drive the broker's expansion across the British insurance market.
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May 14, 2025
UK Lifeboat Fund Looking Into New Claims Against WealthTek
The U.K.'s lifeboat fund compensating investors in failed investment firms has started investigating new types of investor claims against collapsed wealth manager WealthTek LLP.
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May 14, 2025
Pension Bosses Warn Gov't Over Mansion House Mandate
The government is likely to fail in its bid to oblige pension funds to invest in the U.K. without ensuring that there is a sufficient pipeline of viable assets, a panel of experts warned MPs on Wednesday.
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May 14, 2025
Aviva's £3.7B Deal To Buy Direct Line Gets UK Investigation
Britain's antitrust watchdog said Wednesday that it is investigating Aviva's proposed £3.7 billion ($4.9 billion) cash and stock acquisition of rival insurer Direct Line, saying it has concerns about competition.
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May 14, 2025
Pensions Watchdog Raises Alarm Over Lack Of Guidance
The Pensions Regulator urged savings plans on Wednesday to issue guidance — or what it called a sat-nav — for people approaching retirement, after a report found that most workers cash out as soon as they can.
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May 14, 2025
Insurer Settles €17M Project Delay Dispute With Wind Farm
The U.K. branch of insurer Ergo Versicherung has agreed to a settlement in its €17.3 million ($19.5 million) dispute with an Irish energy company and its Dutch shareholder over the delayed construction of a wind farm.
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May 13, 2025
FCA Proposes Paring Back Insurance Rules To Boost Growth
The Financial Conduct Authority proposed Wednesday to remove unnecessary requirements from its insurance rule book to reduce company costs and fuel U.K. growth.
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May 13, 2025
Only Half Of Mid-Retirees Expect Pensions To Last, Aviva Says
Only half of pension savers aged 65 to 75 are confident they are on track to make their retirement savings last for the rest of their life, insurance giant Aviva has said, calling for a tool that would help retirees in the middle of retirement gauge their financial prospects.
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May 13, 2025
FCA Reports Progress On Misconduct MoU With China
The City watchdog has said it is working on a memorandum of understanding with the National Financial Regulatory Administration in China to help detect misconduct early.
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May 13, 2025
EU Insurtech Sells Italian Arm To Private Equity Firm
Wefox Insurance AG said Tuesday it has sold its Italian business to private equity giant JC Flowers & Co., as it wraps up a restructuring of the wider business.
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May 13, 2025
Pension Providers Agree To Invest £25B In UK Projects
The government said Tuesday that it has struck a deal with the pensions industry that could result in £25 billion ($33 billion) of investment in U.K. infrastructure and clean energy projects.
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May 13, 2025
Peugeot Invests $125M In Insurance Broker BroadStreet
The company that represents the interests of French industrial dynasty Peugeot said Tuesday that it plans to plow $125 million into U.S. insurance brokerage BroadStreet as it moves to diversify its investments away from the automobile sector.
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May 13, 2025
Starboard Hotels, Liberty Mutual Settle COVID Cover Action
The owners of 21 hotels across England have agreed to settle their attempt to claw back £21 million ($28 million) from Liberty Mutual Insurance Europe SE to cover losses they allegedly suffered during the COVID-19 pandemic.
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May 12, 2025
WTW Launches Insurance Solution For FinTech Companies
Global insurance broker Willis on Monday launched an insurance product it said would meet the needs of financial technology companies as they look to grow.
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May 12, 2025
Most Fail To Verify Fraud Requests, Finance Trade Body Finds
Only one in 10 people who takes steps to protect themselves from financial fraud checks the logic of requests for action, according to research published Monday by Take Five, an anti-fraud campaign led by UK Finance.
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May 12, 2025
LCP Forecasts Pensions Bill 'Crammed' With Policy Changes
The U.K. government is likely to use forthcoming pensions legislation to include a number of reforms that have been planned for years, a consultancy said Monday.
Expert Analysis
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Whether And How To Compel Remote Arbitration
Excerpt from Practical Guidance
As the pandemic delays in-person arbitration hearings, mediator and arbitrator Theodore Cheng provides arbitrators with a checklist to examine the rationale and authority for compelling parties to participate in remote hearings.
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Creditors Welcome UK Supreme Court's Reflective Loss Decision
The U.K. Supreme Court's recent Sevilleja v. Marex decision benefits creditors and other stakeholders by excluding their claims from the reflective loss principle, which precludes third-party complaints that merely reflect company loss, say Robert Fidoe and Jack Moulder at Watson Farley.
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How Courts Are Encouraging Mediation In England And Wales
As the judiciary braces for widespread pandemic-driven contractual disputes, courts in England and Wales are showing enthusiastic support for mediation, both when determining the implications of a party's refusal to mediate and when assessing whether normal restrictions on the use of mediation-derived information apply, says Leah Alpren-Waterman at Watson Farley.
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Opinion
EU Class Action Policy Guided By Wrong Measure Of Success
The political agreement obtained last month on the first European Union-wide rules on collective redress illustrates the fact that the main goal of the authorities is to increase the number of class action claims rather than focus on the application of standard civil liability principles, says Sylvie Gallage-Alwis at Signature Litigation.
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An Attractive Regime For Governing Jurisdiction Post-Brexit
As indicated by the U.K.'s recent application to join the Lugano Convention, this is an "oven-ready" option for the U.K. for governing questions of jurisdiction and the enforcement of judgments with European Union countries after Brexit — but not without important differences from the current regime, say attorneys at Latham.
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Reinsurance Implications Of COVID-19 Biz Interruption Laws
In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.
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UK Appellate Rulings Clarify Arbitral Choice Of Law
Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.
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Post-Pandemic Litigation To Expect In England And Wales
Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.
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UK Lawyers Can Adapt Due Diligence To Screen New Clients
As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.
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A UK Business View Of COVID-19's Economic Fallout
Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.
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Remote Depositions Bring Ethics Considerations For Lawyers
Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.
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Time For Presumptive Virtual Mediation In The UK
While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.
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UK 'Property' Classification Boosts Confidence In Bitcoin
In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.
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3 EU And UK Data Protection Tips During COVID-19
Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.
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Novolex Case Brings Lessons On R&W Insurance
A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.