Insurance UK

  • October 01, 2024

    EU Markets Watchdog To Help Tighten Greenwashing Rules

    The markets watchdog of the European Union said Tuesday that it will concentrate more on sustainable finance rules, and will develop tools to help national regulators address risks such as greenwashing.

  • October 01, 2024

    Insurance Consolidator PIB Group Buys UK Broker

    PIB Group Ltd. said it has bought RS Insurance Brokers Ltd., as the insurance acquisition vehicle seeks to boost its presence in the sector with a "burgeoning" portfolio of specialisms across the U.K. and Europe.

  • October 01, 2024

    4 Firms Guide Partners Group In €6.7B Sale Of German Biz

    Swiss private equity shop Partners Group said Tuesday that it is selling its stake in a German digital energy metering business to Texas-based TPG and Singapore's sovereign wealth fund for approximately €6.7 billion ($7.4 billion).

  • September 30, 2024

    Reinsurer Loses Appeal Over £69M COVID Catastrophe Claim

    An Italian reinsurer has lost its challenge against French insurer Covéa Insurance PLC's COVID-19 business interruption claim, with a London appellate court on Monday upholding findings that the pandemic met the definition of "catastrophe" used in the policy.

  • September 30, 2024

    Ex-Meghraj Boss Still Being Pursued Over £1.8M Pension Bill

    The U.K.'s retirement watchdog said Monday that a former company director was still being pursued for payment into a staff pension scheme, more than a year after he was slapped with a £1.8 million ($2.4 million) bill.

  • September 30, 2024

    Royal London Enters Pension Insurance Market

    The Royal London Mutual Insurance Society Ltd. said Monday that it has officially entered the bulk purchase annuity market after it completed several smaller transactions.

  • September 30, 2024

    FCA And BoE Launch Digital Securities Sandbox

    The Financial Conduct Authority and Bank of England said Monday they have opened a digital securities sandbox for applications, enabling entrants to use new technologies to issue and trade securities in traditional financial markets.

  • September 30, 2024

    UK Urged To Help Tackle Global £420B "Fraudemic"

    Britain must do more to tackle the global "fraudemic," as one in five adults in the world has fallen victim to fraudsters at total cost of £420 billion ($560 billion) in the past three years, according to a think-tank's new report.

  • September 30, 2024

    Trustees Urged To Rethink Longevity Trends Over NHS Crisis

    U.K. pension trustees should be aware of the impact of longer National Health Service waiting times on longevity figures when they come to calculate long-term liabilities, experts warned.

  • September 30, 2024

    AXA XL Denies $190M Claim For Planes Stranded In Russia

    AXA XL and other reinsurers have hit back at allegations that they are liable for claims totaling almost $190 million over planes said to be stranded in Russia after the invasion of Ukraine, arguing that the aircraft are not completely lost.

  • September 30, 2024

    Private School Wants Insurer To Cover Abuse Scandal Cost

    A private school embroiled in a historic sexual abuse scandal has sued its insurer, arguing it should cover any damages the school might have to pay in a barrage of cases brought by former pupils.

  • September 27, 2024

    FCA Efforts To Curb Misconduct Surge Behind The Scenes

    The Financial Conduct Authority has brought a record number of criminal prosecutions against individuals, yet its crackdown on corporations is happening largely behind the scenes as the regulator challenges misconduct without opening formal investigations.

  • September 27, 2024

    Santander, Skipton Beat Attempts To Reopen PPI Settlements

    Santander Cards UK Ltd. and Skipton Building Society have fought off attempts by customers to revive claims alleging the lenders' offers to compensate them for misselling payment protection insurance were invalid.

  • September 27, 2024

    Watchdog Targets Underperforming Pension Schemes

    Nearly one in five of the defined contribution pension schemes targeted by The Pensions Regulator as part of a regulatory improvement drive have chosen to wind up after the plans themselves concluded their schemes do not offer good value for customers.

  • September 27, 2024

    Gov't Could Target Pension Contributions In Tax Raid

    The U.K. government could introduce a new levy on employer pension contributions as a means of plugging a £22 billion ($29.5 billion) black hole in public finances, experts said Friday.

  • September 27, 2024

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

    This past week in London has seen Coca-Cola bring a trademark infringement claim against its former marketing director, Glencore face legal action by American Century ETF Trust, law firm Bishop Lloyd & Jackson defend itself against two solicitors it worked alongside during inquiries into Grenfell Tower, and a U.K. cruise line face a claim by a subsidiary of the sanctioned gambling platform GTLK.

  • September 27, 2024

    StanChart Seeks Approval For Rate Change In Libor Test Case

    Standard Chartered on Friday asked two judges to approve a change in the interest rate it pays on its preferred shares, in the first dispute to come before the High Court over the transition from the Libor benchmark.

  • September 27, 2024

    Annuity Buyers Encouraged To Shop Around For Best Deal

    Annuity buyers should shop around to secure the best value deals, Just Group said Friday, highlighting recent figures that show large numbers of savers purchasing from their existing pension provider despite more competitive offers being available.

  • September 27, 2024

    Insurance To Fall As Motor Injury Rate Is Cut In Scotland, NI

    Insurance premiums could fall for motorists in Scotland and Northern Ireland after the Government's actuary department tweaked a formula for calculating damages for major injury claims.

  • September 26, 2024

    'Positive' Pension Investing Said To Drive Saver Engagement

    Greater investment by pension schemes in assets like affordable housing or clean energy infrastructure would boost saver engagement and overall contributions, Legal & General has said.

  • September 26, 2024

    Eversheds-Led Insurer Strikes 3rd Reinsurance Deal In UK

    Global life insurance group Resolution Life said Thursday that it has completed its third reinsurance transaction in the U.K. in a deal guided by Eversheds Sutherland, bringing the total liabilities that it manages in the country to $3.5 billion.

  • September 26, 2024

    Brits Raid Pension Pots Amid Cost-Of-Living Surge

    The Financial Conduct Authority on Thursday reported a 20.6% rise in total pension scheme withdrawals by U.K. savers to £52.1 billion ($69.6 billion) in the financial year ended in March, compared to £43.2 billion the previous year.

  • September 26, 2024

    FCA Chair Never Considered Resignation Over Whistleblowers

    The chair of the Financial Conduct Authority said Thursday that it did not cross his mind to resign over allegations of having mishandled whistleblowing reports.

  • September 26, 2024

    FCA Plans New Measures On Non-Financial Misconduct

    The Financial Conduct Authority said Thursday that it will set out new policies on non-financial misconduct such as sexual harassment before the end of 2024, as an executive at the watchdog warned that "cultural issues" remain a problem at companies.

  • September 26, 2024

    EU Mulls Greater Protection For Pensions From Market Risk

    Retirement savings plans across Europe should improve their management of liquidity risk and governance procedures to protect themselves against market volatility, the bloc's insurance and pensions watchdog said on Thursday.

Expert Analysis

  • Tech, Media, Telecom Investor-State Arbitration Is On The Rise

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    Disputes between foreign investors from the technology, media and telecommunications sector and host states are a substantial feature of the investor-state claims landscape. The recent growth of investor-state arbitrations in this sector could be explained by several factors, says Florencia Villaggi of Herbert Smith Freehills LLP.

  • Treat GDPR Compliance As A Marriage, Not A Wedding

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    Earlier this year, many businesses were so focused on ensuring that their privacy notices and customer lists were compliant by May 25 that they forgot that General Data Protection Regulation D-Day was just the first day of a new regime, rather than a one-day event, say Ben Pilbrow and Joanna Boag-Thomson of Shepherd and Wedderburn LLP.

  • New UK And US Regimes May Deter Foreign Investment

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    Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.

  • UK Employees May Soon Gain The 'Right To Disconnect'

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    Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

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    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

  • Relief For Cos. Conducting UK Internal Investigations

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    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

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    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

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    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • When To Use Options Analysis In Damages Assessments

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    In both the U.K. and abroad, the discounted cash flow methodology is often considered the "go to" valuation approach when conducting a damages assessment. However, DCF is not always appropriate and damages experts should know when to use the option analysis methodology instead, says Ronnie Barnes of Cornerstone Research Inc.

  • Opinion

    UK 'Unexplained Wealth Orders' Will Discourage Investors

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    The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.

  • Brexit: Bracing For A No-Deal Scenario

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    Once considered the “cliff edge,” the possibility of the United Kingdom exiting from the European Union without agreeing on a trade deal has moved from unthinkable to increasingly likely. Both sides are ramping up preparations for a no-deal scenario, which would have significant implications for businesses in all sectors, say attorneys with Baker McKenzie LLP.

  • Considering Contract Termination Under English Common Law

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    The U.K. High Court Commercial Division's recent decision in Phones 4U v. EE is a reminder of the care with which contracting parties should consider their rights when their English law contracts appear to be failing, says John Laird of Crowell & Moring LLP.

  • UK Corporations Face Growing Risk Of Class Actions

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    Recent years have seen an increased focus on class action litigation in U.K. courts, with a rise in high-profile and high-value claims being brought against corporate defendants. Furthermore, various factors suggest that the trend is likely to continue, say attorneys at Herbert Smith Freehills LLP.

  • Goldman Sachs Decision Raises Bank Failure Questions In UK

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    Depending on your political beliefs, the U.K. Supreme Court's recent judgment in Goldman Sachs v. Novo Banco either illustrates the benefits of remaining in the European Union or highlights the dangers of not breaking free from it, says Ben Pilbrow of Shepherd and Wedderburn LLP.

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