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 06, 2025
Pinsent Masons Steers Shipping Co. On £70M Pension Deals

Danish international shipping and logistics company DFDS AS has completed two bulk purchase annuity transactions worth a combined £70.4 million ($92.2 million) with Just Group PLC, the financial services company disclosed on Thursday.
November 05, 2025
Gov't Says It Will Bring Tech Giants Into Financial Regulation

Big technology companies could be brought within the scope of U.K. financial regulation by next year, a minister said, after the government came under pressure from lawmakers over its response to last month's Amazon cloud outage.
November 05, 2025
BoE Vows To Make Captive Insurance Regime Competitive

The Bank of England said Wednesday it would ensure that its new regime to allow corporations to set up captive insurance companies would be internationally competitive.
November 05, 2025
Gunnercooke Guides £96M Ford-Sponsored Pension Deal

L&G said Wednesday it has finalized a £96 million ($125 million) pension plan buy-in for Ford Motor Co., to secure the retirement benefits of more than 1,000 U.K. members.
November 05, 2025
Amlin Dodges $47M Award Over 'Pay First' Clause In Ship Row

The owner of a vessel that ran aground cannot overturn a judgment finding that MS Amlin Marine NV doesn't have to pay out to a company it insured because the insolvent business failed to pay a $47 million arbitration award, an appeals court ruled Wednesday.
November 05, 2025
Insurer Sampo To Roll Out Share Buyback Worth Up To €150M

Finnish insurer Sampo PLC said on Wednesday it will begin a new €150 million ($172 million) share repurchase program with a view to lowering its share capital.
November 05, 2025
Marine Insurer Sues To Block Claim Over Deadly Sea Collision

Two insurance businesses have sued an Italian provider of offshore support vessels to prevent the company from claiming any legal liabilities or costs as indemnity after a tugboat sank and left five of its crew dead.
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.

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

What To Know About EU's Reimposition Of Sanctions On Iran

Lawyers at Steptoe discuss the European Union’s recent reimposition of trade and financial sanctions against Iran, which will introduce legal and operational constraints that affect EU companies' commercial activities in the region.
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.