Insurance UK

  • August 30, 2024

    Standard Life Named 'Safe Haven' For Defrauded Pensioners

    Insurer Standard Life has been appointed as a "safe haven" pension provider for members of retirement schemes that have lost out to fraud, the company said.

  • August 29, 2024

    Pension Consolidator Would Be Useful, Broadstone Says

    Proposals put forward by the previous government to launch a public sector consolidator of retirement savings plans run by the pensions lifeboat fund would be a "welcome addition" to the market, Broadstone said Thursday.

  • August 29, 2024

    EU Warns That Greenwashing Risk Could Hit Investment

    The European Union's markets watchdog said Thursday in its latest risk monitoring report that greenwashing and related malpractices are undermining investor trust and the credibility of green finance.

  • August 29, 2024

    Another British Steel Pension Adviser Declared In Default

    A financial adviser connected to the British Steel pension scandal has been declared in default by the U.K.'s lifeboat scheme.

  • August 29, 2024

    UK Teetering On Pensions Crisis, Mercer Warns

    The U.K. needs pension reform to avert a looming crisis that threatens a secure retirement for pensioners, according to a report by American consultancy firm Mercer LLC released Thursday.

  • August 29, 2024

    Ombudsman Reports 70% Surge In Financial Complaints

    Users of financial products lodged 70% more complaints in the first quarter of the 2024/25 financial year compared with the corresponding previous period, the Financial Ombudsman Service reported on Thursday, a jump from almost 44,000 to approximately 75,000.

  • August 29, 2024

    Pensions Watchdog Calls For Early Take-Up Of Value Rules

    The pensions watchdog urged the country's largest retirement plans on Thursday to adopt draft rules on providing value for money before they are officially implemented to help iron out technical kinks before they are rolled out to the wider sector.

  • August 28, 2024

    Lloyd's Says $5M NJ Settlement Fight Must Be Arbitrated

    Lloyd's of London underwriters have told a New Jersey federal court that a man who was falsely imprisoned must arbitrate his dispute over the payment of a $5 million settlement from the city of Trenton, saying a provision in the city's policy requires arbitration.

  • August 28, 2024

    Ageas To Launch €200M Buyback, Hits Record €10B Inflow

    Ageas said Wednesday it will launch a share repurchase program worth up to €200 million ($223 million) next month, as the Belgian multinational insurer reported that it had got a record of just over €10 billion from premiums paid by its customers.

  • August 28, 2024

    FCA To Launch Probe Into 'Pure Protection' Insurance Market

    The financial watchdog said Wednesday that it plans to investigate competition within the pure protection insurance market in the U.K. amid concerns that consumers might not be getting fair value from these products.

  • August 28, 2024

    BoE To Widen Checks On How Finance Absorbs Disruption

    The Bank of England has said it will develop its approach to assessing how financial markets deal with disruption to cover new technologies and more risks, potentially extending its scrutiny beyond the payments sector.

  • August 28, 2024

    LDI Managers Urged To Influence Gov't Climate Policy

    Liability-driven investment managers ought to be doing more to influence climate policy to protect members' pensions as government debt plays an increasingly large role in retirement savings portfolios, Lane Clark & Peacock LLP said.

  • August 28, 2024

    Swiss Life To Acquire Green Hydrogen Biz For $106M

    The asset management arm of insurer Swiss Life will buy Everfuel AS of Denmark in a deal that values the green hydrogen producer at $106 million and will take it off of the Euronext Growth market, the companies said Wednesday.

  • August 27, 2024

    Forsters, Ex-Bank Lawyer Try To Duck Property Deal Case

    Forsters LLP and a former Bank of Tokyo-Mitsubishi lawyer who was convicted of a multimillion-pound fraud are seeking to avoid being dragged into a philanthropist's £3.5 million ($4.6 million) legal battle over a collapsed property deal.

  • August 27, 2024

    The Impending Litigation Fallout Of The Lynch Yacht Tragedy

    As Italian authorities begin investigating what caused the deadly sinking of the Bayesian superyacht that claimed the lives of Mike Lynch and six others, maritime insurance experts anticipate substantive claims on behalf of victims and survivors.

  • August 27, 2024

    Starmer Warns Of 'Painful' Budget As UK Braces For Tax Hikes

    U.K. Prime Minister Keir Starmer warned Tuesday of "painful" decisions to plug budget gaps, including tax increases and spending cuts, looming in the Oct. 30 budget statement.

  • August 27, 2024

    25 Banks To Adopt Tool For Survivors Of Economic Abuse

    Twenty-five banks and building societies have committed to working with a new tool designed to help survivors of economic abuse, Britain's banking trade body said on Tuesday.

  • August 27, 2024

    Pinsent Masons Steers Insurer On £42M Pensions Deal

    British insurer Just Group said on Tuesday that it has taken on pension liabilities valued at £42 million ($56 million) from a retirement savings plan sponsored by a British farmer-owned dairy co-operative, First Milk.

  • August 27, 2024

    Gov't Urged To Reform Pension Tax To Fill Budget Gaps

    The Labour government should reform £66 billion ($87 billion) worth of pension tax relief to raise extra revenue to help plug the black hole in public finances, a think tank affiliated to the party has said.

  • August 24, 2024

    Italian Prosecutors Open Criminal Probe Into Yacht Sinking

    Italian prosecutors said Saturday that they have opened a criminal investigation into the sinking of a superyacht that claimed the lives of seven people including a partner at Clifford Chance LLP and his client, British technology mogul Mike Lynch.

  • August 23, 2024

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

    The past week in London has seen Google sue several Russian media outlets in response to challenges to the tech giant's response to international sanctions, easyGroup bring an intellectual property claim against delivery company Easycargo, and e-money business Nyavo challenge action by the Financial Conduct Authority.

  • August 23, 2024

    Oligarch Denied Bid To ID Client Linked To $20M Transfer

    A judge refused Friday to let an imprisoned Russian oligarch force a group of companies to disclose the identity of a client who requested a $20 million transfer, saying that revealing the person's identity runs the risk of violating criminal law in Liechtenstein.

  • August 23, 2024

    Insurer Calls For Gov't Action On Auto-Enrollment Reform

    The new government should "hit the ground running" with changes to automatic enrollment regulation, an insurer has said, as it set out four potential areas of reform that could dramatically boost pension savings.

  • August 23, 2024

    Direct Line Reveals Capital Ratio Accounting Error

    Direct Line Insurance Group PLC said Friday it has corrected a miscalculation in its accounting that distorted its capital buffer in its financial results for the year ending December 2023.

  • August 23, 2024

    UK Terrorism Reinsurer Appoints Howden, Aon As Advisers

    Britain's terrorism reinsurer has said it has appointed Aon Securities Ltd. and Howden Capital Markets as advisers for insurance-linked securities transactions.

Expert Analysis

  • Key Takeaways From EU Proposal For Greenwashing Rules

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    If the proposal for a Green Claims Directive, with its enhanced rules on claims about a product or trader's environmental impact, is adopted, it will affect all businesses selling their products in the EU and bring major changes to the way those products are packaged and advertised, say attorneys at Shearman.

  • UK Plan For AI Rules Raises Compliance Questions For Cos.

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    The U.K. government's proposal for a new, clear and pro-innovation regulatory framework on artificial intelligence diverges from the European Union's approach, which may create incoherence and compliance burdens for businesses operating in both jurisdictions, says attorneys at Akin Gump.

  • The FCA's Timely Plan To Reform Asset Management Regime

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    The discussion paper recently issued by the U.K. Financial Conduct Authority finally addresses how, in the future, asset management regulation will work in totality from an investor, manager and distributor perspective, and its review of the purpose and balance of the regime is welcomed, says Tim Dolan at Greenberg Traurig.

  • Questions Raised By UK Plan For ESG Ratings Providers

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    HM Treasury is taking steps toward regulating environmental, social and corporate governance ratings providers, aiming to ensure adequate protection for U.K. users and level the playing field, but the potential new regime risks imposing undue regulatory burden and overlapping requirements on U.K. and overseas firms, say Ferdisha Snagg and Andreas Wildner at Cleary.

  • Review Of Senior Managers Regime Provides Useful Insight

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    Although the recently launched review of the Senior Managers and Certification Regime suggests a remodel rather than wholesale change, the topics raised illustrate the mindset of the three key stakeholders in the U.K. financial services sector, say Richard Burger and Katy O’Connor at WilmerHale.

  • Highlights Of The UK's New Economic Crime Plan

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    With the direction of the U.K. government’s newly launched second economic crime plan undeniably altered by the recent focus on kleptocrats and their money, the emphasis is now on how the U.K. can deliver a more effective approach to reducing the threat of economic crime, says Kathryn Westmore at the Royal United Services Institute.

  • How The LDI Crisis May Lead To Pensions' Negligence Claims

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    Following the liability-driven investment crisis and its impact on pension schemes, employers and trustees may now be considering if anyone is to blame for any losses arising, say Rachael Healey and Andrew Oberholzer at RPC.

  • 5 Crypto Considerations For UK Policymakers

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    A recent consultation paper from the U.K.'s HM Treasury about digital asset regulation has been touted as a cause for celebration, and while the wheels have been put into motion, there is still a lot of work to do when it comes to correctly regulating the U.K.'s cryptocurrency industry, says Oliver Linch at Bittrex Global.

  • Crypto-Asset Consultation Sets Out Direction Of Travel For UK

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    HM Treasury's phased approach in its recently published consultation on extending the U.K.'s future financial services regulatory regime for crypto-assets, although in many ways differing from parallel developments in the EU, is likely to be conducive to thoughtful policymaking, say attorneys at Cleary.

  • EU Act Offers Financial Sector A Cybersecurity Framework

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    Although unlikely to be a complete solution to all risk management issues, the Digital Operation Resilience Act, effective from 2025, will increase regulatory pressure substantially in the EU financial sector and demand compliance with several new requirements, say attorneys at DLA Piper.

  • Warranty & Indemnity Insurance Considerations For M&A

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    With increased competition and greater capacity leading to lower premiums and deal costs, warranty and indemnity insurance is now available to the wider M&A market, and may help to limit risk and help parties focus on other key elements of the transaction, says Alice Wooler at Birketts.

  • 4 Exercises To Quickly Build Trust On Legal Teams

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    High-performance legal teams can intentionally build trust through a rigorous approach, including open-ended conversations and personality assessments, to help attorneys bond fast, even if they are new to the firm or group, says Ben Sachs at the University of Virginia School of Law.

  • Lessons To Be Learned From Twitter's Latest Hacking Scandal

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    Following the report of a recent data breach at Twitter, it is clearly vital for companies to adhere to best practices in data protection and IT security arrangements, including technical measures, and proper processes and procedures that mitigate risk and provide adequate training for staff, says Simon Ridding at Keller Postman.

  • Preparing For EU's Pay Gap Reporting Directive

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    An agreement has been reached on the European Union Pay Transparency Directive, paving the way for gender pay gap reporting to become compulsory for many employers across Europe, introducing a more proactive approach than the similar U.K. regime and leading the way on new global standards for equal pay, say attorneys at Lewis Silkin.

  • Has The Liberalization Of Legal Services Achieved Its Aims?

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    Although there is still some way to go, alternative business structures are now an increasingly prominent feature of the legal services landscape, and clients can expect greater choice, improved quality and more manageable costs, as was intended by this shake-up of the profession's regulatory frameworks 15 years ago, says Dana Denis-Smith at Obelisk Support.

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