Insurance UK

  • October 14, 2024

    Rockhopper Insures Against Italy Annulling €190M Award

    British energy company Rockhopper Exploration PLC said Monday that it has penned an insurance policy to cover the potential annulment of the €190 million ($207 million) arbitral award it won against Italy after the country banned oil and gas projects off its coastline.

  • October 14, 2024

    FCA Applies Consumer Duty To Tackle Fraud Reimbursement

    The Financial Conduct Authority has applied its consumer protection framework to banks to ensure that they tackle authorized push payment fraud and reimburse victims, beyond the rules set by the payments watchdog, according to lawyers.

  • October 11, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen billionaire Lakshmi Mittal sue steel magnate Sanjeev Gupta in a long-running clash to claw back €140 million ($153 million) of debt, a high-profile AI researcher take action against the Intellectual Property Office to register his software as a listed patent inventor and troubled housing trust Home Reit face a claim by a real estate developer. Here, Law360 looks at these and other new claims in the U.K.

  • October 11, 2024

    Pension Boss Wins £25K Over Firing For Company Card Use

    An ex-director of the Canada Pension Plan Investment Board has won £25,000 ($32,700) at a tribunal after the fund sacked him for using his corporate credit card for vacation expenses after his personal card was stolen.

  • October 11, 2024

    Linklaters Guides £145M Pension Deal For Church Of England

    The Church of England Pensions Board said it has closed a £145 million ($190 million) pensions risk transfer transaction with Aviva, securing the benefits of the retirements savings plan's members.

  • October 11, 2024

    Market Abuse Behind Majority Of €71M EU Fines

    The European Union's markets authority said Friday the bloc's national regulators issued fines totaling €71.3 million ($93.2 million) in 2023 as they doubled down their efforts to curb insider trading and market manipulation.

  • October 11, 2024

    Retirement Savings Consultancy Isio Buys Pension Broker

    Isio Group Ltd. said Friday that it has inked a deal to buy pensions specialist K3 Advisory Ltd., which it expects will enhance its business amid "strong demand" for transactions in the retirement savings sector.

  • October 11, 2024

    UK Insurer Saga In Talks Over £140M 20-Year Deal With Ageas

    Travel and insurance company Saga PLC confirmed Friday that it was in "exclusive negotiations" with Ageas over a two-decade partnership, as well as the sale of its underwriting unit to the Belgian business.

  • October 10, 2024

    Private Equity Behind Half Of UK Insurance Intermediary Deals

    Private equity-backed transactions continue to dominate the mergers and acquisitions scene in Britain's insurance distribution sector, which could see a rise in transactions this month despite a quiet September, according to financial services advisory firm MarshBerry.

  • October 10, 2024

    Howden Seeks To Move Part Of Aon Poaching Case To Brazil

    Howden Group Thursday urged a court to stay parts of a claim by professional services firm Aon against the broker related to alleged staff poaching from Aon's Brazilian insurance business, saying the South American country is the right venue for the dispute.

  • October 10, 2024

    Gupta Prosecuted Over Missing Accounts For 76 Companies

    British businessman Sanjeev Gupta and four other executives in his industrial group face criminal charges over their alleged failure to file accounts for more than 70 listed companies, the U.K. corporate registry confirmed Thursday.

  • October 10, 2024

    £300B Of Pension Assets Could Be Invested In UK, PwC Says

    The largest pension funds in Britain could potentially invest up to £300 billion ($391 billion) into the U.K. economy, PwC said Thursday, after the sector logged a record funding surplus in September.

  • October 10, 2024

    FCA Warns Of Rise In Market Abuse Through Regulated Firms

    The Financial Conduct Authority has said it has seen a rise in potential market abuse from trading accounts administered by authorized companies working with overseas firms.

  • October 10, 2024

    Pension Deals Market Expected To Finish Year Below £49B

    The annual volume of pension deals completed in 2024 is set to close below the record of £49.1 billion ($64.2 billion) in 2023, Lane Clark & Peacock LLP has said, as the consultancy suggested the market is now at "cruising altitude."

  • October 10, 2024

    Osborne Clarke Guides Purchase Of Broker DeadHappy

    Estate planning company Octopus Legacy said Thursday that it has bought the technology assets of controversial defunct life insurance broker DeadHappy, in a deal steered by Osborne Clarke LLP.

  • October 09, 2024

    Insurance Firm Keoghs Expands With Ireland Solicitors Deal

    Insurance law firm Keoghs LLP said Wednesday it has expanded into Ireland with the acquisition of Dublin-based O'Brien Lynam Solicitors, in a deal steered by A&L Goodbody LLP and Addleshaw Goddard (Ireland) LLP.

  • October 09, 2024

    £41.5M InvestAcc Group Pensions Biz Deal Finalized

    London-headquartered InvestAcc Group Ltd, formerly Marwyn Acquisition Co. II Ltd., said Wednesday it has completed its £41.5 million ($54.3 million) acquisition of a pensions services provider in Carlise, North England, a move expected to bolster its retirement savings business.

  • October 09, 2024

    Litigation Funder Sues After-The-Event Insurer For £61M

    A legal loans company has sued an insurer for around £61.4 million ($80.3 million) over its alleged failure to pay out under a litigation funding arrangement.

  • October 09, 2024

    Pinsent Masons Steers £1.5B Pension Deal For Michelin

    Aviva said Wednesday it has taken on £1.5 billion ($1.96 billion) in pension liabilities from a scheme sponsored by tire giant Michelin in the largest bulk purchase annuity deal announced so far this year.

  • October 09, 2024

    Gov't Warned Over National Insurance Levy On Pensions

    About half of U.K. employers would scale back the amount they pay into staff pensions to regulatory minimums if a new tax was applied to contributions, according to a survey by a trade group published Wednesday.

  • October 08, 2024

    Gov't Urged To Fix Britain's 'Inflexible' Savings System

    The government should allow savers to draw on their pension early and use the money for a house deposit, Schroders said Tuesday, among a raft of proposals designed to boost financial resilience and improve Britain's "unusually inflexible" savings system.

  • October 08, 2024

    Gov't Floats Expansion Of 'Collective' Pension Fund Rules

    The government on Tuesday floated plans to create new pooled pension funds spanning multiple employers, which will have the financial firepower to invest in U.K. economic growth.

  • October 08, 2024

    Gov't Urged To Commit To Pension Tax 'Lock' In Budget

    The government must commit to a long-term pact on pension tax policy, experts said, warning that prolonged uncertainty is damaging consumer confidence.

  • October 08, 2024

    Bear 'Polluter Pays' Liability For Redress, FCA Tells Firms

    The finance watchdog has warned investment firms that they must take responsibility for holding sufficient resources to pay redress to clients, saying it has seen significant liabilities being pushed onto the country's financial compensation program.

  • October 08, 2024

    FCA Warns Banks To Improve Anti-Fraud Systems To Cut APP

    The financial watchdog has ordered banks and other payments firms to improve their anti-fraud systems and controls, as it expects businesses to target authorized push payment scams in this way.

Expert Analysis

  • Brexit's Impact On London As A Top Int'l Arbitration Seat

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    Despite concerns that London may be considered a less attractive place to do business post-Brexit, there are many reasons to believe that the city will retain its position as a globally favored arbitral seat, say Adrian Jones and James Wagner at FaegreBD.

  • Post-Brexit UK Likely To Conform With EU On Human Rights

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    In a recent speech, U.K. Foreign Secretary Dominic Raab stated his intent to expand sanctions for human rights violations by extending the so-called Magnitsky amendment, strongly indicating that Britain's exit from the EU would be unlikely to disrupt coordinated efforts to address international transgressions against human rights, says Stephen Baker at Baker & Partners.

  • The Evolution Of GDPR Enforcement Across The EU

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    With the last few months bringing significant fines to major businesses that have breached the European Union's General Data Protection Regulation, it is clear that regulators are moving away from the light-touch approach they employed during the transition to the new rules, says James Simpson of Blaser Mills.

  • Series

    Why I Became A Lawyer: Being There For Families In Trouble

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    My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.

  • 3 Ways To Leverage Vulnerability For Lawyer Well-Being

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    Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.

  • Zurich Case Brings Clarity To Complex Contempt Proceedings

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    The U.K. Court of Appeal's recent decision in Zurich v. Romaine provides insight into the meaning of "in the public interest" in the context of bringing contempt proceedings against a party or witness who verifies false claims, says Matt Peacock of Signature Litigation.

  • What A No-Deal Brexit Would Mean For Dispute Resolution

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    In the event of a no-deal Brexit, arbitration may become a more attractive option as a dispute resolution mechanism, as it offers relatively easy enforcement and clauses that could negate some uncertainty caused by Brexit, says Donna Goldsworthy of BDB Pitmans.

  • The Problem — And Opportunity — Of Implicit Bias In The Bar

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    Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.

  • Roundup

    Pursuing Wellness

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    In this Expert Analysis series, leaders at some of the law firms that committed to the American Bar Association's 2018 pledge to improve mental health and well-being in the legal industry explain how they put certain elements of the initiative into action.

  • Series

    Why I Became A Lawyer: Expanding The Meaning Of Diversity

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    My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.

  • 2 Perspectives On Navigating The Litigation Funding Process

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    Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.

  • Answers To Key Legal Finance Ethics Questions

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    While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.

  • Competing Legal Factors Vex Insurance Arbitration Disputes

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    The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.

  • Cannabis Investors Should Beware Money Laundering Risk

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    Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.

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