Insurance UK

  • May 12, 2025

    Mayer Brown, Gowling Guide £120M Charity Pension Deal

    Pensions insurer Rothesay said Monday that it has secured retirement savings plan liabilities worth £120 million ($160 million) for a scheme sponsored by charity and exam board AQA Education, in a deal guided by Mayer Brown LLP and Gowling WLG.

  • May 12, 2025

    Japan's Dai-Ichi Increases Stake In UK Asset Manager To 15%

    Japanese life insurer Dai-ichi Life said Monday that it will increase its stake in Capula, a British hedge fund, to 15% as it seeks to grow its asset management business and diversify risk.

  • May 09, 2025

    Lloyd's Body Calls For Reduced Reporting Under New CEO

    The Lloyd's Market Association has urged the new chief executive and chair of Lloyd's of London to streamline regulatory obligations with other watchdogs in the City, among other commitments the trade body said would help take the specialist insurance market "up a gear."

  • May 09, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a subsidiary of State Street Corp. sue British sports betting giant Entain, Manolete Partners and HSBC tackle action just weeks after signing a £17 million revolving credit facility agreement, and a commercial fraud claim launched by EFG Bank against Mirabaud & CIE.

  • May 09, 2025

    AIG Wins COVID-19 Loss Payout Row With Cornish Hotels

    A judge ruled on Friday that AIG does not have to pay the two owners of bars and hotels in Cornwall for losses suffered during the COVID-19 pandemic because the policy did not specifically cover the coronavirus disease.

  • May 09, 2025

    EU Fund Managers Call To Simplify EU Sustainability Package

    Europe's fund managers on Friday backed the European Union's bid to streamline the bloc's sustainability regulations, but warned "excessive" reductions in reporting requirements could limit investors' access to crucial environmental, social, and governance data.

  • May 09, 2025

    Gov't Announces Overhaul Of £25B Welsh Pension Fund

    The U.K. government said Friday that the £25 billion ($33.2 billion) public sector Wales Pension Partnership fund will be overhauled to invest more in local communities, as part of a wider effort to tap the retirement savings industry for growth in Britain.

  • May 08, 2025

    Broker Denies Negligence In £2M Fire Coverage Claim

    An insurance broker argues that it does not owe a property developer £2 million ($2.7 million) for allegedly mishandling its policy because the developer failed to disclose that a building had suffered break-ins and vandalism, which ultimately caused the property's insurer to refuse a payout after a fire.

  • May 08, 2025

    2nd Circ. Revives Arbitration In Hurricane Damage Suit

    The Second Circuit on Thursday revived a bid by surplus insurers seeking to arbitrate claims over hurricane-related property damage in Louisiana, in a ruling that overturns its own precedent on the interpretation of a treaty governing international arbitration.

  • May 08, 2025

    FCA Names Payments And Digital Finance Head Amid Merger

    The Financial Conduct Authority said Thursday that it has appointed a single executive to the positions of permanent executive director for payments and digital finance and managing director of the Payment Systems Regulator, months after the government disclosed plans to merge the two authorities.

  • May 08, 2025

    Aon Sued For $1.3M By Ex-Exec Over 'Unpaid' Bonus, Stock

    Aon's former insurance consulting chief has sued for more than $1.3 million worth of bonus and stock options, accusing the company of failing to live up to the original deal he negotiated when he joined from Willis Towers Watson.

  • May 08, 2025

    TPT Floats UK's First Multiemployer Collective Pension Plan

    TPT Retirement Solutions said Thursday it plans to launch a multiemployer collective defined pension scheme, after the government said it will roll out new legislation for the sector in the autumn.

  • May 08, 2025

    FCA Flags Risky Investment Practices At Small Asset Firms

    The Financial Conduct Authority said Thursday that many small asset managers have ineffective arrangements to manage conflicts of interest and inadequate processes to offer high-risk investments.

  • May 08, 2025

    Sackers Guides Trustee In Standard Life's £280M Pension Deal

    Standard Life and Cancer Research UK's retirement savings plan have concluded a £280 million ($372 million) bulk purchase annuity transaction, the pensions giant said Thursday, with the trustee guided by Sacker & Partners LLP.

  • May 08, 2025

    Franco Manca Owner Settles COVID-Cover Fight With QIC

    The owner of popular high-street pizzeria Franco Manca has agreed to settle its dispute with QIC Europe Ltd. over losses the restaurant chain claimed to have suffered after it temporarily closed sites at the height of the COVID-19 pandemic.

  • May 07, 2025

    AmTrust Hit With £11.7M Claim Over Post-Grenfell Repairs

    A social housing provider has sued AmTrust Europe Ltd. for over £11.7 million ($15.6 million) for allegedly refusing to pay out to fix issues the provider uncovered during an investigation prompted by the deadly Grenfell fire in 2017.

  • May 07, 2025

    Finance Trade Body Warns AI Can Amplify Misconduct Risk

    A U.K. trade body for financial firms warned a group of members of Parliament at a hearing Wednesday that artificial intelligence amplifies the risk that banks could screen out unwanted customers without anyone knowing, in defiance of the Consumer Duty.

  • May 07, 2025

    Intellica Acquires Pensions Consultancy Cosan

    Pensions technology consultancy Intellica Ltd. said on Wednesday that it has bought rival Cosan Consulting Ltd. in a bid to boost resources to address the challenges faced by the retirement savings sector.

  • May 07, 2025

    Lloyd's Broker Appears In Court On Ecuador Bribery Charges

    A Lloyd's of London broker appeared in court Wednesday accused by the Serious Fraud Office of failing to prevent a U.S.-based intermediary from making corrupt payments in Ecuador in order to secure contracts worth $38 million.

  • May 07, 2025

    EU Watchdog To Advise Tightening Insider Dealing Rules

    The EU markets watchdog specified on Wednesday in advice to the European Commission on insider dealing rules for companies listing shares that profit warnings must be disclosed immediately rather than delay until accounts are produced.

  • May 07, 2025

    MPs Launch Fresh Probe Into Civil Service Pension Plan

    A cross-bench parliamentary committee has launched a new inquiry into how members of the civil service pension plan are treated amid ongoing scrutiny over historical failings associated with the program.

  • May 06, 2025

    Trade Body Calls For Swift Action On Pension Surplus Plan

    The U.K. must act swiftly in developing a new regime to allow businesses to tap into well-funded pension plans to invest in themselves or the wider economy, a trade body urged Tuesday.

  • May 06, 2025

    Financial Complaints Skyrocket After Motor Finance Ruling

    The U.K.'s financial complaints watchdog said Tuesday that it received more than 140,000 reports about financial businesses in the last six months of 2024, up almost 49% on the same period a year earlier, after a landmark ruling that requires motor finance lenders to disclose commissions.

  • May 06, 2025

    Marsh Blamed For $143M Loss On Greensill As Trial Opens

    The investment firm White Oak said it would never have invested in a financial scheme set up by now-collapsed Greensill Capital if it had not relied on misleading statements provided by the insurance broker Marsh about its cover, the firm's lawyers said at the opening of an almost $143 million trial Tuesday.

  • May 06, 2025

    EU Watchdog Proposes New Rules For ESG Ratings Firms

    The European Union's markets watchdog has proposed new rules for providers of ESG ratings in a move to prevent conflicts of interest and improve their disclosures.

Expert Analysis

  • How Proposed EU Class Action Directive Could Affect Insurers

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    Insurers should beware the explosive potential of the EU's proposed directive providing for cross-border class actions and third-party funding for such actions, although it also bears strict requirements that will limit the number of cases, say Emmanuèle Lutfalla and Simon Fitzpatrick at Signature Litigation.

  • COVID-19 Insurance Considerations For UK Cos.

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    Though a new U.K. regulation recently made it easier for businesses to claim losses related to COVID-19, potential points of contention when seeking insurance coverage include whether the government ordered the business to close and whether an outbreak occurred at the premises, say attorneys at Covington.

  • UK Group Data Breach Claims Pose Big Financial Risks

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    Recent English court decisions appear to make it easier for data breach victims to bring collective actions, and consequently companies may find they are liable for huge sums in addition to fines under the General Data Protection Regulation, say attorneys at Morrison & Foerster.

  • A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias

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    In Halliburton v. Chubb, the U.K. Supreme Court has an opportunity to tackle uncomfortable questions and support confidence in London's arbitration sector by policing effectively against bias and impartiality when arbitrators are involved in multiple tribunals, says Rosie Wild at Cooke Young.

  • Rebuttal

    Legal Industry Should Pursue AI Prediction Progress

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    As part of the debate prompted by my recent Law360 guest article on legal prediction using artificial intelligence, I would like to unpack four issues and suggest that attorneys and technologists continue to tackle the problems presently within reach, says Joseph Avery at Claudius Legal Intelligence.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

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    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • What To Expect During The Brexit Transition Period

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    While all formal ratification procedures for the U.K.'s departure from the European Union have been completed, the transitional period will bring an enormous range of trade, customs and regulatory issues, say attorneys at Mayer Brown.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

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    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

  • Surefire Marketing Methods To Build Your Legal Practice

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    Attorneys who take the time and the risk to showcase their talents through speaking, writing and teaching will find that opportunities will begin building upon themselves, says Daniel Karon of Karon LLC.

  • Mandatory Mediation May Lie Ahead For England And Wales

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    The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.

  • Key Risks And Developments For UK Law Firm Culture In 2020

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    In 2020, law firms throughout the U.K. will be increasingly reshaped by rapid changes in societal expectations and advances in technology, say Helen Rowlands and Niya Phiri of Clyde & Co.

  • Cos. Can Start Preparing Now For Immigration Beyond Brexit

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    Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.

  • #MeToo Pressure On UK Businesses Is Set To Rise

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    Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.

  • Opinion

    UK's Insurer Investigations May Not Help Policyholders

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    The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.

  • The Outlook For Autonomous Vehicles In The UK And US

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    As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.

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