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Insurance UK
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July 31, 2025
Squire Patton-Led JTC To Buy Swiss Bank Unit For £20M
JTC PLC said Thursday it plans to acquire a finance services company that caters to ultra-rich clients from Swiss private bank Union Bancaire Privée SA for £20 million ($26.5 million), as the Jersey-based fund administrator seeks to increase its global presence.
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July 31, 2025
A&O Shearman Guides Brookfield On £2.4B Just Group Buy
Investment giant Brookfield said Thursday that it plans to buy Just Group, a British life insurer, for £2.4 billion ($3.2 billion) in a deal steered by A&O Shearman and Slaughter and May.
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July 30, 2025
Insurers Lose Bid To Avoid $37M Ship Detention Payout
A group of insurers on Wednesday lost their bid to escape paying out $37 million to the owners of a cargo ship detained by the Indonesian navy, with a London appeals court ruling that the detention was not excluded from cover.
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July 30, 2025
Sainsbury's Bank Partners With Allianz For Insurance Policies
Insurance giant Allianz UK said Wednesday that it has penned a deal to offer replacement home and motor insurance policies to Sainsbury's Bank customers as their current cover expires.
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July 30, 2025
UK Gov't Forced To Repay £48.7M In Pension Overtaxation
The government has had to hand back £48.7 million ($64.7 million) in the past three months to Britons who paid too much tax when tapping into their pension savings, figures revealed Wednesday, as experts say a fix for the long-running tax provision so far has shown little effect.
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July 30, 2025
Property Insurance Payouts Rise To £1.6B In 3 Months
A trade body for British insurers has said the sector paid out £1.6 billion ($2.1 billion) in property claims between April and June, driven largely by adverse weather conditions in the U.K.
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July 30, 2025
Insurance Broker Aon Warns Of Looming Market Shift
Aon said Wednesday that looming threats to the global economy from further geopolitical instability and major cyberattacks could soon mean a major shift in the underwriting market.
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July 30, 2025
Allianz Settles £9M Structural Dispute With Housing Trust
Insurance giant Allianz and a London-based social housing provider have agreed to a settlement in a £9 million ($12 million) row over the cost of fixing a range of structural defects in a property in London.
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July 30, 2025
Looser SMCR May Leave Banks More Open To Fraud Charges
The Financial Conduct Authority's proposed partial relaxation of the approval process under its senior managers regime as the U.K. pushes for deregulation could leave companies more exposed to fraud prosecution as the failure to prevent fraud offense goes live in September.
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July 29, 2025
Bridgehaven Buys Irish Insurer To Enter EU Market
British insurance company Bridgehaven said it is poised to enter the European market after penning an agreement to buy the Irish insurer SureStone Insurance DAC.
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July 29, 2025
Tech Co. Accuses Seller Of Hiding Issues Ahead Of £20M Deal
A group of companies owned by an American technology and security conglomerate has sued the former owner of a company it acquired for more than £20 million ($26.6 million), accusing him of concealing a raft of problems with the business.
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July 29, 2025
Global Insurance M&A Drops To Lowest Level Since 2008
Geopolitical instability, persistent inflation and high interest rates have all contributed to a cautious global insurance market, with mergers and acquisitions activity during the first half of 2025 falling to its lowest since the 2008 financial crisis, according to a new report.
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July 29, 2025
EU Watchdog Finds Failings In AML Defenses At Crypto-Firms
The banking watchdog of the European Union has warned that many crypto-asset companies lack effective anti-money laundering systems, reporting that abuse of services in the sector for financial crime is a major concern.
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July 29, 2025
Kirkland Guides Bridgepoint On German Broker Majority Stake
U.K. private equity firm Bridgepoint said Tuesday that it has penned a deal to acquire a majority stake in German insurance broker Hanseatic Broking Center, in a deal steered by Kirkland & Ellis LLP and Sidley Austin LLP.
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July 29, 2025
Osborne Clarke Guides £37M Pension Deal For Heart Charity
The British Heart Foundation's pension plan has agreed to a £37 million ($49.4 million) full scheme buy-in with mutual life insurer Royal London, consultancy Broadstone said Tuesday.
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July 28, 2025
FCA Flags AI Risks In Benchmark Administrators' Controls
The City watchdog warned Monday that administrators of companies that set benchmarks lack consistency in how they manage data, saying there was inadequate evidence that their controls are evolving to cover risks from new technology such as AI.
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July 28, 2025
IMF Warns Of 'Difficult Decisions' On UK Pension Triple Lock
The U.K. could be forced to rethink how it sets the state pension every year as it seeks to rein in spiraling public spending, the International Monetary Fund has warned.
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July 28, 2025
Investment Boss Told To Pay Back £170K From £37M Fraud
A director of an ethical investment scheme imprisoned for defrauding investors out of £37 million ($50 million) was ordered by a court on Monday to pay back £170,000 or have two years added to his sentence.
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July 28, 2025
Veteran Banker Named Interim Chair Of Financial Ombudsman
The City watchdog said Monday that it has appointed Liam Coleman as interim chair of the Financial Ombudsman Service, following a long career in banking and the public sector.
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July 28, 2025
Allianz Life Hack Attack Exposes Most Clients' Info
Insurance giant Allianz has said that hackers have stolen personal data from most of its 1.4 million customers in America after cybercriminals hacked into a third-party system used by its U.S. subsidiary.
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July 28, 2025
Britons Fear Impact Of Inheritance Tax Change On Pensions
Four out of 10 people in Britain are concerned about the government's decision to bring pensions within the scope of inheritance tax, according to a survey by a consultancy on Monday.
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July 28, 2025
European Reinsurer Fined £1.79M Over Post-Brexit Failings
The Bank of England's regulatory arm said on Monday that it has fined the London branch of a Luxembourg-based reinsurer £1.79 million ($2.4 million) for failing to have adequate controls in place during Britain's exit from the European Union.
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July 25, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the owner of a £6 million ($8 million) mansion once rented by Adele sue real estate consultants Strutt & Parker, Romanian-Australian mining investor Vasile Frank Timis bring a claim against reputation and privacy firm Schillings, and a Chinese businessman bring a legal action against his former lawyer over an alleged £12.5 million mortgage fraud.
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July 25, 2025
'Disconnect' Between Pension And Savings, Broadstone Says
Britons aged between 40 and 75 who are yet to fully retire face a gap of more than £18,000 ($24,000) per year between their state pension and the income they hope to live on, actuarial consultant Broadstone said Friday.
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July 25, 2025
Commercial Insurer Competition Driving Drop In Global Rates
The average price of commercial insurance across the globe fell by 4% between April and June, Marsh has said, marking the fourth consecutive quarterly decrease.
Expert Analysis
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UK Supreme Court Ruling Clarifies Arbitrator Bias Standard
The U.K. Supreme Court's judgment in Halliburton v. Chubb, likely the court's most important decision in the area of international arbitration in the past decade, articulates important guidelines for how English courts will police issues of arbitrator disclosure and bias, even as it fuels concerns among insurance policyholders, say Allan Moore and Ramon Luque at Covington.
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Evaluating Ethical And Legal Risk In Ransomware Payments
Deciding whether to pay the demanded ransom during a cyberattack is complex and requires a careful balancing of the risks to the firm's business against the reputational and regulatory risks, but companies can also prepare for this eventuality by taking concrete steps now, say Rob Dedman and Kim Roberts at King & Spalding.
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How Climate, Finance And Trade Will Intersect In 2021
In the coming year, the Biden administration will likely align its policies on climate change, finance and trade more closely with those of international partners and organizations, leading to more coordinated action on climate standards that will be applied across the global economy, say consultants at C&M International.
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Perspectives
Finding A Path Forward To Regulate The Legal Industry
Gerald Knapton at Ropers Majeski analyzes U.S. and U.K. experiments to explore alternative business structures and independent oversight for law firms, which could lead to innovative approaches to increasing access to legal services.
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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.