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Insurance UK
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July 03, 2025
UK Insurance Agency M&A Down 35% In 1st Half
The pace of domestic mergers and acquisitions in the U.K. insurance market slowed down considerably in the first half of 2025, making it the slowest six-month period for M&A activity in the sector since the first half of 2019, a financial services consultancy said Thursday.
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July 03, 2025
EU Regulators Close Ranks To Fight Money Laundering
Europe's financial regulators said on Thursday they would work with the bloc's new central anti-money laundering watchdog to ensure the effective exchange of information to combat white-collar crime.
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July 03, 2025
Ex-Pensions Ombudsman Urges Gov't To Sustain Funding
The former head of the Pensions Ombudsman has praised the work of an anti-fraud unit established four years ago after it emerged that the government was pulling funding for the service.
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July 03, 2025
Athora Eyes Stake In Pension Insurance Corp. In £5.7B Deal
Luxembourg investor Reinet said Thursday that retirement group Athora has approached it to buy its 49.5% stake in Pension Insurance Corp. in a deal that values the U.K. buyout specialist at £5.7 billion ($7.8 billion).
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July 03, 2025
Top Court To Hear Appeal In COVID Insurance Furlough Case
The U.K. Supreme Court has agreed to hear an appeal in a controversial case in which insurers effectively pocketed state subsidies intended for businesses during the COVID-19 pandemic.
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July 03, 2025
Pinsent Masons-Led Chesnara To Buy HSBC Life For £260M
British pensions company Chesnara PLC said Thursday it has agreed to acquire the specialist life protection and investment bond provider of banking giant HSBC for £260 million ($355 million) to give the group a "material step up in scale."
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July 02, 2025
EU Finance Watchdog Sets Guidelines To Avoid Greenwashing
European financial services businesses must ensure any claims they make about the sustainability of their financial products or services are accurate, accessible, substantiated and up to date, according to guidance from the bloc's financial watchdog.
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July 02, 2025
Hotel Operator Says Ex-Director Stole £800K After Fire Payout
A hotel operator has alleged that its former director gained unauthorized access to its bank account three years after his resignation and stole almost £800,000 ($1.1 million) after an insurance payout for a fire that destroyed the building.
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July 02, 2025
'Decisive' Reform Needed To Fix Pension Issues, IFS Says
The government should widen the age range for employees being automatically included in a work-based pension, one of a raft of proposals that would address a series of risks to the future of Britain's pensioners, the Institute for Fiscal Studies said Wednesday.
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July 02, 2025
Fletchers Acquires Shoosmiths' Serious Injury Practice
Private equity-backed Fletchers Solicitors said Wednesday it has bought the serious injury unit of rival Shoosmiths LLP, continuing a series of high-profile deals for the claimant law firm.
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July 02, 2025
FCA Extends Bullying, Harassment Misconduct Across Sector
The Financial Conduct Authority released new rules on Wednesday that extend its regulatory powers to cover "toxic" workplace behavior such as bullying and harassment to non-banking firms.
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July 02, 2025
Regulator Calls For Open Banking-Style Reforms In Pensions
The U.K. retirement watchdog has called for a shakeup in data-sharing by pension providers similar to that practiced in the banking sector.
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July 02, 2025
Aviva Completes £3.7B Direct Line Acquisition
Aviva said Wednesday that it has completed the acquisition of insurance rival Direct Line in a £3.7 billion ($5.1 billion) cash and stock acquisition, after clinching final regulatory clearance.
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July 01, 2025
Mayer Brown-Led Aviva Seals Pension Deal For Packaging Co.
Aviva said Tuesday that it has completed a £249 million ($341 million) buy-in transaction to acquire the pensions of approximately 3,500 members of the Molins UK Pension Fund.
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July 01, 2025
Gov't Warned On Impact Of Pension Reforms On Small Biz
Small businesses might have to raise prices, cut jobs or face lower profit margins if the government goes ahead with potential plans to increase employer pension contributions amid its wider probe into retirement savings adequacy, a trade group has said.
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July 01, 2025
AI Risks Leaving UK Businesses Exposed To Insurance Gaps
Businesses that replace workers with artificial intelligence tools could face difficulties when they make claims under standard negligence insurance policies after consumers lose out, lawyers say.
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July 01, 2025
Pension Trustees Urged To Help Shape FCA Guidance Rules
The U.K.'s retirement savings watchdog has called for trustees of pension plans to respond to a major shakeup of rules guiding what level of financial guidance can be issued by providers.
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July 01, 2025
BNP Paribas Seals €5.1B Axa Investment Management Buy
BNP Paribas Cardif said on Tuesday that it has finalized its purchase of the investment management business of French insurer Axa for an estimated €5.1 billion ($6 billion).
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July 01, 2025
Aviva's £3.7B Direct Line Deal Gets CMA Approval
The competition regulator said Tuesday that it has waved through Aviva's £3.7 billion ($5.1 billion) cash and stock acquisition of rival insurer Direct Line, granting the deal its final regulatory clearance.
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June 30, 2025
EU Watchdog Pushes For Stronger Greenwashing Controls
The European Union's markets watchdog warned national regulators Monday to supervise better how investment managers disclose sustainability-related factors of funds.
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June 30, 2025
Finance Gender Gap Progress Too Slow, Gov't Report Warns
A body set up by HM Treasury to increase the representation of women at senior levels in finance warned Monday that improving gender parity in the sector remains too slow and urged companies to "accelerate" their efforts.
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June 30, 2025
Insurer Competition Drives Down Pension Plan Costs
Increased competition in the pensions insurance market has driven down costs to their lowest level in two years, professional services company Aon said Monday.
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June 30, 2025
EU Eyes Adding ESG Risk In Stress Tests For Banks, Insurers
Three European Union finance watchdogs have proposed rules to ensure that national banking and insurance regulators integrate environmental, social and governance risks into supervisory stress-testing in a more harmonized way.
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June 30, 2025
BP Marsh Raises Stake In RPC-Advised Broker To 39%
Private equity investor B.P. Marsh said Monday that it has snapped up an additional 2% interest in Pantheon for £5.5 million ($7.5 million), expanding its holding in the Lloyd's market broker to 39%.
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June 29, 2025
FCA Presents Targeted Support Rules For Finance Firms
The Financial Conduct Authority said Monday it has set out a fast-track plan to allow financial services firms to provide a new type of "targeted support" to unadvised customers about pensions and investments.
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FCA's New Enforcement Regime Threatens Firms, Individuals
The Financial Conduct Authority could damage the reputations of businesses and individuals under investigation in cases that it publicizes anonymously as an unintended consequence of a new enforcement policy, lawyers have warned.

FCA's Crypto Ban Reversal Unleashes Consumer Harm Risk
The Financial Conduct Authority's proposed reversal of its ban on crypto exchange-traded notes for retail investors has paved the way for immeasurable consumer harm, U.K. and U.S. lawyers have warned.

SFO's Growth Push A 'Difficult Line To Tread' For Prosecutor
The Serious Fraud Office's recent promise to assist UK PLC with growth has raised eyebrows among former officials who question the optics of adopting political talking points that, on the surface, appear to distract from investigating and prosecuting economic crime.

Lost Russian Jets Ruling Has Global Implications For Insurers
A London court ruling that major insurers must compensate aircraft lessors for planes seized by Russia will provide useful support for companies seeking repayments for assets stranded in conflict zones with little probability of their return.
Editor's Picks
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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.
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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.
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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
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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.
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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.
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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.
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UK Securities Tax Reform Will Be Welcomed By Investors
The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.
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A Shifting Landscape Of Greater Scrutiny After Data Breaches
Recent Information Commissioner's Office fines for personal data breaches and a Home Office consultation signal a shift in the U.K. regulatory landscape, and with an increase in mass actions and resulting exposure, organizations should prepare for potential third-party claims from those incurring consequential losses, say lawyers at Atheria.
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What To Note As HM Treasury, FCA Plan New Crypto Regs
Taken together, HM Treasury’s recently proposed crypto-asset regulations and the Financial Conduct Authority’s new discussion paper on regulating crypto-asset activities provide key insights into the government's planned regime, which represents significant changes that will affect all firms providing related services, says Mark Chalmers at Davis Polk.
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FCA Update Eases Private Stock Market Disclosure Rules
The Financial Conduct Authority’s recently updated proposals for the Private Intermittent Securities and Capital Exchange System would result in less onerous disclosure obligations for businesses, reflecting ongoing efforts to balance an attractive trading venue for private companies while maintaining sufficient investor protections, say lawyers at Debevoise.
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Why Cos. Should Investigate Unethical Supply Chain Conduct
The U.K. government’s recent updated guidance for businesses on reporting slavery and human trafficking in supply chains underscores the urgent need for companies to adopt transparent and measurable due diligence practices, reinforcing the broader need for proactive internal investigations into unethical or criminal conduct, say lawyers at Seladore and Matrix Chambers.
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How UK Proposals Would Simplify Fund Manager Regime
The ongoing HM Treasury consultation and Financial Conduct Authority call for input on the future regulation of alternative investment fund managers indicate that deliberate steps are being taken to make the AIF regime more suitable for the U.K. market, with the aim of encouraging growth and competitiveness, says Leonard Ng at Sidley.
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FCA's Regulatory Plans Signal Cause For Cautious Optimism
The Financial Conduct Authority’s latest strategy document plans for less intrusive supervision, a more open and collaborative approach, and a focus on assertive action where needed, outlining a vision of deepened trust and rebalanced risk that will be welcomed by all those it regulates, says Imogen Makin at WilmerHale.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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What's Next After FCA Drops Troubled 'Name And Shame' Plan
A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.
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New UK Order Offers Welcome Clarity To Crypto Staking Rules
The recently effective Financial Services and Markets Act 2000 Amendment Order clarifies that arrangements for qualifying crypto-asset staking do not amount to a collective investment scheme, and by addressing an issue that curtailed staking activities in the U.K., facilitates the use of that practice, says Andrew Henderson at Goodwin.
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How EU's Anticoercion Tool May Counter New US Tariffs
The never-before-used anticoercion instrument could allow the European Union to respond to the imposition of U.S. tariffs, potentially effective March 12, and gives EU companies a voice in the process as it provides for consultation with economic operators at different steps throughout the procedure, say lawyers at Crowell & Moring.
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What To Know About Compliance As EU AI Act Takes Effect
Raj Shah at Mishcon de Reya explains how recently effective provisions of the European Union Artificial Intelligence Act, which concern prohibited AI practices and AI literacy, will affect both providers and users of AI systems, and suggests steps that companies can take now to plug any compliance gaps.