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Insurance UK
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September 29, 2025
Allianz Loses £20K Costs Claim Against Ex-Employee
Allianz has lost its quest to recover £20,000 ($27,000) from a former employee who sued the company, failing to convince a tribunal that she acted unreasonably by bringing her claim.
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September 29, 2025
EU Council Reinstates Sanctions Over Iran's Nuclear Activities
The European Union said on Monday that it will reimpose sanctions on Iran, following the lead of the United Nations, which brought back restrictions over concerns that the Middle Eastern country had breached a commitment to halt its nuclear weapons development.
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September 29, 2025
Most Investors Fear Greenwashing In ESG Investments
A financial services trade body said Monday it has discovered that most private investors are concerned about greenwashing in investments and even more prioritize performance over sustainability.
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September 29, 2025
Fund Managers Push EU Watchdog To End Double Reporting
A trade body for European fund managers urged Europe's markets watchdog on Monday to remove dual-sided reporting of derivatives and loans in its planned simplification of reporting on financial transactions.
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September 29, 2025
Marsh Sells Ireland Personal Lines Business To Cornmarket
Insurance giant Marsh McLennan has sold its Ireland personal lines insurance business to Cornmarket, the Belfast-based broker has said.
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September 29, 2025
Investment Biz Helios To Return £7.3M To Shareholders
Helios Underwriting PLC said Monday that it plans to launch a share buyback worth up to approximately £7.3 million ($9.8 million) as the insurance industry investment vehicle noted the strong performance of the Lloyd's specialist market.
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September 26, 2025
FCA Proposes Rule Changes To Allow Targeted Support
The Financial Conduct Authority proposed rule changes Friday to align its proposed "targeted support" with existing rules, including senior manager accountability.
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September 26, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Sanjeev Gupta’s Liberty OneSteel sue its collapsed former lender Greensill Capital, television personality Janice Dickinson hit ITV with a personal injury claim after falling over while appearing on “I’m a Celeb …”, and energy investor Blasket bring fresh litigation against Spain amid a row over a $416 million arbitration award. Here, Law360 looks at these and other new claims in the U.K.
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September 26, 2025
Report Urges Pension Reform To Boost UK Equity Investment
U.K. pension funds' retreat from domestic stocks is undermining the country's economy, but reforms could channel up to £100 billion ($134 billion) into the stock market by the end of the decade, a report has claimed.
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September 26, 2025
FCA Warns Public About Unregulated High-Risk Investments
Britain's financial regulator on Friday warned the public against investing in high-risk schemes being offered by unregulated firms without truly weighing the risks.
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September 26, 2025
Formula 1 Bosses To Tackle Rising Motorsport Insurance Cost
The world governing body of Formula 1 has formed a task force to assess the reasons behind the soaring insurance costs associated with motor sport.
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September 26, 2025
UK-Bermuda Target Sanctions Evasion With £300K New Funds
The U.K.'s minister of state for the overseas territories has pledged up to £300,000 ($402,000) this financial year to bolster the sanctions capacity of Bermuda, a self-governing territory that has so far frozen over $200 million in assets.
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September 25, 2025
Gov't Warns Of Tax Hit From Pre-Budget Pension Withdrawals
British pension savers that pull cash out of their retirement pots due to pre-Budget jitters will eat into a portion of their tax-free allowance, even if they later change their mind and cancel the withdrawal, the government confirmed Thursday.
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September 25, 2025
Oakley Capital Launches Euro Insurance Services Platform
Private equity company Oakley Capital said Thursday it has launched an insurance services platform to consolidate companies in southern Europe.
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September 25, 2025
EU Leans On 11 Countries To Implement New AML Rules
The European Commission said Thursday that it is taking the first step toward legal action against 11 European Union countries over their failure to meet a deadline to start implementing new anti-money laundering rules.
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September 25, 2025
Linklaters Guides BP Scheme On £1.6B Pension Mega Deal
Energy giant BP has offloaded £1.6 billion ($2.1 billion) of its pension liabilities to Legal & General Assurance Society Ltd., the insurer said Thursday, in a deal guided by Linklaters LLP, Macfarlanes LLP and DLA Piper.
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September 25, 2025
Trade Body Urges Patience On Canada-Style Pension Reform
The U.K. must be patient and allow time for plans to consolidate public sector pension arrangements rather than rush to emulate a Canadian model for retirement savings, Pensions UK has said.
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September 24, 2025
Chubb Blames Reinsurers For $5.7M Aircraft Loss Bill
Chubb has urged the High Court to force a group of war risk reinsurers to cover the $5.7 million it owes to aircraft lessors, arguing that the reinsurers are liable under a landmark court order determining the fate of planes stranded in Russia.
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September 24, 2025
Ransomware Gangs Shift Focus To Small Biz, Insurer Warns
Insurers have seen a sharp decline in payouts from cyberattacks in the first half of the year, as hackers turn their attentions on smaller, more vulnerable businesses, Allianz said Wednesday.
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September 24, 2025
FCA Faces Legal Challenge Over Bond Data Contract Award
The Financial Conduct Authority said Wednesday that it has received a legal challenge to its decision to award a contract for the bond consolidated tape provider, delaying the regulator's contract with the successful bidder.
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September 24, 2025
Ship Co. Seeks $5M Payout For Vessel Hit By Houthi Rockets
A shipping company has told a London court that its insurer can't avoid a $5 million payout to cover a vessel that was sunk by Yemen-based Houthi rebels, arguing the attack did not fall under a war exemption.
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September 24, 2025
'Muted' Start For Pension Deals As Market Falls To £9.8B
The value of pension transactions in the first half of the year fell by around 41% compared to the same period last year, a consultancy said Wednesday, describing it as a "muted" start for the normally busy bulk annuity market.
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September 24, 2025
Gowling Guides Trustees On £160M Portakabin Pension Deal
U.K.-based modular building provider Portakabin Ltd. has completed a £160 million ($215.5 million) full-scheme buy-in of its pension plan with Aviva PLC, the insurance giant said Wednesday.
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September 24, 2025
Tokio Marine Updates Cyber-Products Amid Evolving Threat
Global insurer Tokio Marine Kiln said it has expanded the range of cyber-insurance products it offers to meet what it called the evolving threat of digital criminals.
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September 23, 2025
UK Pension Deal Market Set To Top £40B For Third Year
The U.K. pension insurance market is set for another record year, with transaction numbers expected to hit 350 and total buy-in and buy-out volumes forecast to exceed £40 billion ($54 billion), consultancy Lane Clark & Peacock said Tuesday.
Expert Analysis
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases
The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.
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Unpacking The Building Safety Act's Industry Overhaul
Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.
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A Rare Look At Judicial Interpretation Of LEG Exclusions
A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
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Ruling In FCA Case Offers Tips On Flexible Work Requests
In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.
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Breaking Down The New UK Pension Funding Regs
Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.
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Decoding UK Case Law On Anti-Suit Injunctions
The English High Court's forthcoming decision on an anti-suit injunction filed in Augusta Energy v. Top Oil last month will provide useful guidance on application grounds for practitioners, but, pending that ruling, other recent decisions offer key considerations when making or resisting claims when there is an exclusive jurisdiction clause in the contract, says Abigail Healey at Quillon Law.
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Cayman Islands Off AML Risk Lists, Signaling Robust Controls
As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.
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How Decision On A Key Definition Affects SMEs
The Financial Conduct Authority's decision not to extend the definition of small and midsized enterprises may benefit banks and finance providers in the current high interest rate environment and where SMEs in certain sectors may be under financial pressure in light of the cost-of-living crisis in order to streamline it, says Rachael Healey at RPC.
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Employers Can 'Waive' Goodbye To Unknown Future Claims
The Scottish Court of Session's recent decision in Bathgate v. Technip Singapore, holding that unknown future claims in a qualifying settlement agreement can be waived, offers employers the possibility of achieving a clean break when terminating employees and provides practitioners with much-needed guidance on how future cases might be dealt with in court, says Natasha Nichols at Farrer & Co.
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Acquisition Of AI Tech Poses Challenges For Media Industry
The artificial intelligence regulatory landscape is changing quickly, and media and entertainment companies planning to acquire AI technology through a merger, acquisition or licensing deal should be mindful of potential new compliance requirements and AI-specific insurance products, say lawyers at Covington.
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3 Financial Services Hot Topics To Watch In 2024
Technology, ESG and private markets are set to have the greatest impact on financial markets in 2024, as firms grapple with increasing regulatory change and a shifting political backdrop on both sides of the Atlantic, says Matthew Allen at Eversheds Sutherland.
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Misleading Airline Ads Offer Lessons To Avoid Greenwashing
Following the Advertising Standards Authority's recent decision that three airlines' adverts misled customers about their environmental impact, companies should ensure that their green claims comply with legal standards to avoid risking reputational damage, which could have financial repercussions, say Elaina Bailes and Olivia Shaw at Stewarts.
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CMA Guidance Can Help Businesses Act On Climate Change
Guidance recently published by the Competition and Markets Authority, which explains how competition law applies to sustainability and climate change agreements, provides clarity for businesses seeking to collaborate and emphasizes the regulator’s open-door policy, says Andrew Maxwell at Freeths.
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An Overview Of UK Short Selling Regulation Reforms
The steps taken by the U.K. government to reform the short selling regime show a thoughtful and considered approach and a willingness to listen to industry feedback in adapting the legacy EU regime to the realities of the U.K. markets, say Anna Maleva-Otto and Matthew Dow at Schulte Roth.