Insurance UK

  • 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.

  • 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.

  • 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.

  • 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.

  • 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. 

  • 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).

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • March 17, 2025

    Government Wants Pension Watchdog To Cut Red Tape

    The government said Monday it wants the U.K.'s pension watchdog to cut red tape, in a bid to strip back regulatory burdens it sees as inhibiting growth.

  • March 17, 2025

    UK To Launch Measures To Speed Up Firms' Approval Process

    The U.K. government will introduce measures for the Financial Conduct Authority to speed up support for early-stage businesses as part of a broader set of reforms to reduce regulatory impediments to economic growth.

  • March 17, 2025

    EU Insurers To See Boost From Increased Defense Spending

    European insurers are set to benefit from rising government bond yields linked to increased borrowing to fund defense spending, Fitch Ratings has said.

  • March 14, 2025

    Aon Can Sue Howden In Staff Poaching Case In England

    Aon UK Ltd can pursue its claim against Howden Group Holdings Ltd related to alleged staff poaching from Aon's Brazilian insurance business, after a ruling Friday that English courts have jurisdiction.

  • March 14, 2025

    Gov't Orders Law Shake-Up To Boost Insurance Mutuals

    The government has ordered a review of the law governing insurance mutuals, as it said it would double the number of companies operating in the sector.

  • March 14, 2025

    Willkie-Led PE Firm To Buy Stake In UK Insurance Broker

    Private equity firm IK Partners has agreed to acquire a minority stake in broker and risk management company Seventeen as it seeks to tap into the U.K. insurance market.

Expert Analysis

  • Why The Flood Of GDPR Litigation Has Been Delayed

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    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.

  • Opinion

    Law Schools Should Be More Like Medical Centers

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    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.

  • Opinion

    Courts Are Getting It Right On Litigation Funding Discovery

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    Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.

  • Worldwide Freezing Orders Can Backfire Without Proper Care

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    Worldwide freezing orders, which preserve a respondent's assets until the outcome of the substantive case, are an important weapon in the arsenal of a commercial litigant. However, as FSDEA v. Dos Santos demonstrates, courts lay heavy obligations upon WFO applicants, says Nicola McKinney of Grosvenor Law Ltd.

  • UK Litigation And Guidance Highlight Cybersecurity Risk

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    Recent developments in the United Kingdom emphasize the importance of companies implementing cybersecurity measures proactively both to prevent incidents and to argue in mitigation when, not if, the company does suffer a data breach, say Guillermo Christensen of Ice Miller LLP and Anupreet Amole of Brown Rudnick LLP.

  • 2 BVI Cases Explore Scope Of Proper Purpose Test

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    Two recent cases in the Eastern Caribbean Court of Appeal have presented British Virgin Island courts an opportunity to develop a local jurisprudence regarding the BVI Business Companies Act and provide guidance on how the proper purpose test is to be applied, says Rosalind Nicholson of Walkers Global.

  • Last-Minute Brexit Preparations For EU Financial Firms

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    As the deadline for a hard Brexit draws ever closer, financial firms operating in the United Kingdom or European Union must consider how possible outcomes will impact transactions and contractual relationships, and take steps to mitigate business interruptions, say Gilles Kolifrath and Linda Sharkey of Kramer Levin Naftalis & Frankel LLP.

  • What To Expect From Serious Fraud Office In 2019

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    The coming year looks to be an interesting one for the U.K. Serious Fraud Office. With new Director Lisa Osofsky firmly in post, expectations are high that she will shake things up in the next few months, say Anna Gaudoin and Alison Geary of WilmerHale.

  • UK Privacy Rules That Can Catch You Off Guard

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    The recent data breach scandal involving the Leave.EU campaign shows that the U.K. Privacy and Electronic Communications Regulations is often overlooked by businesses, says Alexander Edwards of Rosling King LLP.

  • Autonomous Vehicles And UK Product Liability Law: Part 2

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    With autonomous vehicles expected to hit the streets of the United Kingdom soon, manufacturers, insurers and their legal counsel face the challenge of determining how the U.K.'s product liability laws will be applied to questions of negligence, evidence and contracts raised by self-driving vehicles, says Michaela Herron of Bristows LLP.

  • Autonomous Vehicles And UK Product Liability Law: Part 1

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    Autonomous vehicles present a number of challenges to the United Kingdom's product liability legal framework, especially with regard to the vehicles' heavy reliance on software, consumers' expectations of safety and the need for compliance with varying local traffic rules, says Michaela Herron of Bristows LLP.

  • A Victory For Legal Privilege In Cross-Border Investigations

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    The U.K. Court of Appeal's recent decision in Serious Fraud Office v. Eurasian Natural Resources is a substantial step toward confirming the application of legal privilege in internal investigations, and has significantly reduced the divergence in U.K. and U.S. privilege law, say attorneys with Milbank Tweed Hadley & McCloy LLP.

  • UK And EU Crawl Toward Virtual Currency Regulation

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    The lack of a harmonized approach to regulation of initial coin offerings in the EU is leading to a piecemeal approach across member states that will hamper blockchain developments, say Jacqui Hatfield and Rebecca Kellner of Orrick Herrington & Sutcliffe LLP.

  • Is Equifax Data Breach Penalty A Sign Of Fines To Come?

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    Recently, the U.K. Information Commissioner's Office fined Equifax £500,000 for falling victim to a cyberattack — the highest penalty available. Some speculate that this decision is a sign that the ICO is already assuming a tougher stance following the commencement of the General Data Protection Regulation, say James Castro-Edwards and Eaven Prenter of Wedlake Bell LLP.

  • Ensure That Dispute Resolution Mechanisms Are Brexit-Proof

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    With only five months remaining for the U.K. to make a deal with the EU and the possibility of a "no-deal" Brexit looking increasingly plausible, now is the time to take proactive steps to protect your clients’ positions and to make sure that their contracts are effective and enforceable, say Claire Stockford and Caitlin McLean of Shepherd & Wedderburn LLP.

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