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Insurance UK
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September 10, 2025
Pinsent Masons Guides £105M Materials Co. Pension Deal
Legacy pension plans for the industrial materials giant Mativ Holdings Inc.'s U.K. arm have completed two full-scheme buy-ins worth £105 million ($142 million) with Rothesay Life PLC, the insurer has said.
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September 10, 2025
Lawmakers Float Plan To End Lifeboat Fund Admin Levy
The Liberal Democrats said Wednesday that they have backed reform that will see the permanent removal of a controversial levy on pension providers which funds the administrative expenses of the sector's lifeboat program.
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September 10, 2025
FCA To Slash Data Reporting For Retail Broker Firms
The Financial Conduct Authority said Wednesday that it plans to slash some of the quarterly and biannual reports that retail broker companies must submit, a step it estimates can save the sector approximately £1.8 million ($2.4 million) in administrative costs.
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September 09, 2025
Insurers Told To Invest In Data To Meet Cyber-Market Demand
The insurance sector must improve the quality of its data to better understand risks if it is to address the anticipated growth in the cyber-market, Lockton Re has said.
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September 09, 2025
Dutch Pension Reform Could Mean Shakeup For Markets
The sweeping reform of the €2 trillion ($2.3 trillion) Dutch pension sector from next year could have knock-on effects for bond markets and Eurozone banks, a credit rating agency warned Tuesday.
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September 09, 2025
Chancellor Warned Against Cutting Pension Tax Relief
Possible changes to pension tax relief rules that could be announced in the forthcoming autumn budget to raise additional revenue are fraught with risks for Chancellor Rachel Reeves and could break government manifesto commitments, a consultancy has said.
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September 09, 2025
Lloyd's Greenlights New Syndicate For Reinsurer Ariel Re
Lloyd's of London has given the nod for reinsurer Ariel Re to establish a second syndicate, the company said Tuesday, with plans to start writing business from the end of the year.
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September 08, 2025
FCA Unit Tells Legal, Accountancy Bodies To Improve SARs
The anti-money laundering unit of the Financial Conduct Authority told legal and accountancy supervisory bodies on Monday that suspicious activity reports they submit could be improved by setting out an action plan.
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September 08, 2025
Insurers Say EU Solvency Reforms Will Not Boost Competition
The European Commission's draft technical amendments to the prudential regime for insurance and reinsurance companies across the bloc will not make the region more competitive, a trade body has said.
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September 08, 2025
UK Pension Surplus Grows To £223B As New Regs Loom
Pension plans now have £223 billion ($302 billion) in funding above what they need to pay benefits to members, a consultancy said Monday, as lawmakers weigh reforms that will allow businesses to tap into surpluses.
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September 08, 2025
Gov't Consults On Merging Payments Watchdog With FCA
The government released detailed plans on Monday for folding the Payment Systems Regulator into the Financial Conduct Authority, a move that would simplify the rules for payment systems and companies.
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September 08, 2025
AI Crucial To Navigate Shift In Insurance Risks, Swiss Re Says
Artificial intelligence will be a "game changer" for the reinsurance industry as it navigates an increasingly turbulent geopolitical landscape, Swiss Re said in a report Monday.
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September 08, 2025
Ship Insurers Urged To Press On Sexual Assault Safeguards
Marine insurers must play a role in eradicating sexual harassment of female seafarers, a trade body said Monday, warning that a quarter of women employed in the sector have experienced assault.
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September 05, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen professional boxing promoter Boxxer take action against the former head of boxing at Matchroom Sport, Aegis Motor Insurance and Chubb European Group clash over a reinsurance claim, and a transgender pool player sue the English Blackball Pool Federation over its decision to ban her competing in women's teams and tournaments.
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September 05, 2025
Consultant Solicitor To Face Tribunal Over Misconduct Claims
A consultant lawyer has been referred to a disciplinary tribunal after he allegedly attempted to mislead third parties about a client's immigration status, the Solicitors Regulation Authority has said.
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September 05, 2025
Ex-Insurance CEO To Pay £5M For Pocketing Business Loan
A London court on Friday found the former chief executive of a defunct Liechtenstein insurer liable to pay back £4.96 million ($6.7 million) after pocketing a loan from the company for no legitimate business purpose.
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September 05, 2025
Retirement Confidence Rises, But Isn't Shared Equally
More workers in the U.K. are confident of retiring comfortably than before, with men and young employees showing strong optimism compared with women and other age groups, according to research by pensions provider Aegon.
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September 05, 2025
AXA Settles Shipping Repair Co.'s £950K Fire Damage Claim
A ship repair and maintenance company has settled its £950,000 ($1.3 million) claim against insurer AXA's U.K. business, according to a newly public order by a London judge.
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September 05, 2025
EU Watchdog Urged To Clarify Derivatives Clearing Rules
Representatives of the fund management and derivatives industries have urged European regulators and lawmakers to clarify technical planned rules for companies that clear derivatives under a regime known as European Market Infrastructure Regulation 3.
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September 05, 2025
SPB Steering Multiemployer Collective Pension Plan Launch
Squire Patton Boggs has said it is advising TPT Retirement Solutions as the company plans to launch what is expected to be the U.K.'s first multiemployer collective defined contribution scheme.
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September 05, 2025
Brits Prioritize Fitness Over Pension Savings, ABI Says
Every fifth Briton prioritizes physical health now over their future financial health, according to research by Pension Attention, a national awareness campaign for pensions.
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September 05, 2025
FCA's New Redress Powers Spark Some Legal Concerns
Government plans to reform the Financial Ombudsman Service will give the Financial Conduct Authority new powers to introduce wide-ranging consumer redress programs at its discretion, leading lawyers to warn that the regulator could become too susceptible to public pressure.
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September 04, 2025
Ex-FCA Supervisor Says Tribunal Denied Him Fair Trial
A former supervisor at the City watchdog argued at an appellate tribunal in London on Thursday that his unfair dismissal claim against the regulator did not receive a fair hearing, saying that a lower court had made factual errors in its judgment in the case.
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September 04, 2025
Top EU Court Says Pseudonymized Data Is Still Personal
The highest court of the European Union ruled Thursday that comments submitted by shareholders and creditors of a collapsed Spanish bank during an investigation following the sale of the lender could be treated as personal data even though they had been pseudonymized.
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September 04, 2025
Lloyd's Delays Overhaul Of Market's IT Until 2028
Lloyd's of London said Thursday that the next phase of its long-awaited modernization plan will now not take place until 2028.
Expert Analysis
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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.
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How Proposed EU Class Action Directive Could Affect Insurers
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.
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COVID-19 Insurance Considerations For UK Cos.
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.
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UK Group Data Breach Claims Pose Big Financial Risks
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.
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A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias
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.