Insurance UK

FCA Faces Balancing Act In Response To Super Complaint

The City watchdog could be forced to walk a thin line between protecting consumers on the one hand and upholding the government's economic growth agenda on the other — as it draws up a response to a landmark "super complaint" into the insurance sector.

FCA's Tokenization Plan May Heighten Financial Crime Risk

The Financial Conduct Authority's planned tokenization regime to help asset managers trade investment funds as digital assets could expose investors to financial criminals lurking in crypto-markets, with the regulator's "targeted support" rules multiplying the risk, lawyers have warned.

Surface of polluted water reflecting sunlight with a leaf.

'Forever Chemicals' Pollution Claims Seeping Into UK Courts

Litigation over widely used "forever chemicals" that has led to big payouts in the U.S. could become a source of significant exposure for insurers and their policyholders in the U.K. following a recent settlement.

View of the wheels of a row of cars lined up.

Senior Managers At Risk In FCA's £8B Motor Finance Plan

The Financial Conduct Authority's proposed £8.2 billion ($11 billion) car finance redress scheme would force senior managers of lenders to put their heads on the block by attesting that they have adequate systems to identify customers for compensation, with wrong decisions risking enforcement action by the regulator, lawyers have warned.

November 04, 2025
SMEs Fight Liberty Mutual On 'Discovery' Wording And COVID

A group of businesses on Tuesday argued that Liberty Mutual Insurance should pay out for disruption caused by COVID-19 and subsequent lockdowns, on the opening day of the latest trial in a series of cases to examine insurance firms' policies in the wake of the pandemic.
November 04, 2025
UK Pension Dashboards 'On Course' As Final Deadline Looms

The U.K.'s flagship online pension dashboard project is still on track with now less than a year to go before the final deadline, the agency responsible confirmed.
November 04, 2025
BDO Hit With $102M Claim For 'Negligent' Audits Of Insurer

The liquidators of an insurance company have hit BDO LLP with a negligence claim of more than $100 million, arguing that inadequate audits concealed the true financial picture of the defunct business.
November 04, 2025
Gov't Urged To Bring 'Major Changes' To Pension Tax Plans

The government should give "much more thought" to its plans to apply inheritance tax to wealth transferred through pensions to ensure the proposals are implemented fairly and effectively, a retirement consultancy has said.
November 04, 2025
Canada Life Completes £41M AG Barr Pension Buy-In

Insurance and financial services company Canada Life said Tuesday it has finalized a pension plan buy-in worth £41 million ($54 million) with Scottish drinks maker A.G. Barr, in a bulk purchase annuities transaction co-steered by Shepherd and Wedderburn.
November 03, 2025
ABI Urges Gov't To Cut Tax On Health Insurance

The Association of British Insurers called on Monday for the government to cut tax on health insurance in the workplace, amid high levels of long-term sickness that are preventing people from working.
November 03, 2025
JTC Completes £20M Buy Of Swiss Bank Unit

Fund administrations services provider JTC said Monday that it has completed the £20 million ($26.3 million) acquisition of a financial services company that caters to ultra and high-net-worth clients from Swiss private bank Union Bancaire Privée SA.
November 03, 2025
Electric Vehicle Insurance Costs Challenge EU Insurers

Europe's rapid adoption of electric vehicles is reshaping the motor insurance landscape and piling fresh pressure on an already fragile profit outlook for insurers, a ratings agency warned Monday.
November 03, 2025
Travers Smith-Led Pensions Biz Buys AJ Bell Unit For £25M

Online investment platform AJ Bell said Monday that it has completed the sale of its retirement savings arm, Platinum, to U.K. pensions administrator InvestAcc Group Ltd. in a deal worth up to £25 million ($33 million).
November 03, 2025
Watchdogs Set Landmark Rules For UK-Swiss Finance

Financial regulators published rules on Monday under a landmark agreement that will allow Swiss and U.K. firms to trade across borders based on the recognition that the two countries' supervisory regimes have equivalent outcomes.
October 31, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen two regional law firms clash at the intellectual property court over the name Amicus Solicitors, Bill's Restaurant face a breach of contract suit by its former executive chair, and a Capita subsidiary sue the Metropolitan Police over a multimillion-pound procurement dispute.
October 31, 2025
EU Banking Watchdog Lays Down Unified AML Rules

The European Union's banking watchdog has laid out proposals for the bloc's new anti-money laundering framework, highlighting that member states' significantly varying quality and scope of approaches to the issue have hampered its regulation.
October 31, 2025
Lawmakers Ask Gov't To Measure FCA Support For Growth

A committee of the House of Lords urged HM Treasury on Friday to set measures for how effectively Britain's financial regulators support the government's economic strategy for growth.
October 31, 2025
FCA Warns Wealth Managers On Risk In Advice Consolidation

The Financial Conduct Authority said Friday it has found that some companies are relying on risky borrowing when they acquire financial advisers and have unresolved conflicts of interest, alongside other failings that could harm consumers.
October 31, 2025
UK Insurance Market Stabilizes As Switching Declines

Insurers should radically change their strategy if they want to stay competitive in the U.K. market as growth through customer churn declines rapidly, a new study from a market researcher has warned.
October 31, 2025
Nippon Life Completes $8.2B Acquisition Of Bermuda Insurer

Japanese insurer Nippon Life said Friday that it has completed its purchase of the remaining 77% stake in Bermuda-based Resolution Life for $8.2 billion, consolidating its interest in the business.
October 30, 2025
Gov't Launches Plan To Boost Pension Credit Uptake

The government launched a drive to boost take-up of pension credit available to people of state pension age with low incomes on Thursday as it seeks to narrow regional disparities in claims.
October 30, 2025
EU Eases Capital Rules For Banks, Insurers To Help Growth

The executive body of the European Union has eased some capital rules for institutional investors to help them invest more in the economy and boost bloc-wide growth.
October 30, 2025
Reinsurers Say Bank Filed Russian Jet Engine Claim Too Late

A group of reinsurers has denied owing Bank of Utah $9.5 million over a jet engine allegedly stuck in Russia since the country's invasion of Ukraine, saying the claim is time-barred under Russian law.
October 30, 2025
Ombudsman Complaints Down But Insurance Cases Rise

The number of insurance complaints has increased by 14% over the past quarter, the U.K.'s financial arbitration body said, even as overall complaints across all sectors declined.
October 30, 2025
FCA Investigating 76 Cases Of Non-Financial Misconduct

The Financial Conduct Authority is currently investigating 76 cases of bullying, harassment or discrimination in the financial sector, a senior executive has told a parliamentary committee.
October 30, 2025
Wachtell, Debevoise Help AIG Buy $2.1B Stake In Insurer

Insurance heavyweight AIG, led by Wachtell and Debevoise, said Thursday that it will buy a minority stake in Weil-guided underwriter and insurer Convex Group Ltd. for $2.1 billion.
October 29, 2025
Zurich Launches 'Moonshot Factory' AI Insurance Lab

Insurance giant Zurich on Wednesday said it has launched an artificial intelligence lab to "revolutionize" its business model and develop what it called the next generation of insurance solutions.
October 29, 2025
UK Launches Review Of Controversial 'Whiplash' Reforms

The government said Wednesday that it has launched a review of its 2021 reform program for "whiplash" personal injury claims, amid industry concerns over delays to compensation and the failure of insurers to pass on savings to policyholders.
October 29, 2025
Firms That Overstate AI Capabilities Face Risks, Insurer Warns

Companies that over-hype the impact of new artificial intelligence technologies on their business could face potential shareholder or regulatory action down the road, an insurer warned.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

FCA Crypto Proposals Herald Tougher Oversight For Firms

The Financial Conduct Authority’s recent proposals to extend regulation to crypto-asset activities will bring parity, but implementation of the operational resilience requirements and enhanced financial crime controls will present compliance challenges, says Michelle Kirschner at Gibson Dunn.
What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
How Regulators Want Online Platforms To Fight Finance Fraud

Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
FCA Notes Industry Criticism But Keeps Transparency Focus

The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
Court Backing Of FCA Pensions Ruling Sends Key Message

The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
Pension Schemes Bill's Most Notable, Controversial Measures

The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an €855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.