Insurance UK

  • June 12, 2024

    Insurer L&G Plans £200M Share Buyback To Boost Returns

    Legal & General Group PLC on Wednesday said it will launch a £200 million ($255 million) share repurchase program as it unveiled plans to boost returns for investors and focus on core areas of its business.

  • June 12, 2024

    Marsh Unit Buys $66B UK Pensions Provider Cardano

    A unit of U.S. professional services giant Marsh McLennan has bought $66 billion U.K. pensions provider Cardano, in a deal guided by Norton Rose Fulbright LLP.

  • June 18, 2024

    Fieldfisher Hires Linklaters RE Pro To Open Brussels Practice

    Fieldfisher LLP has hired a real estate specialist from Linklaters LLP to launch a new practice in Belgium as it ramps up its services to clients in transactional matters and litigation.

  • June 11, 2024

    Travers Smith Recruits Funds Partner From Blackstone

    Travers Smith LLP said Tuesday that it had hired a retailization specialist from Blackstone Inc.'s credit and insurance arm as a partner, fortifying its ability to advise fund managers on products previously only available to financial institutions.

  • June 11, 2024

    Tory Tax Cut Plans Raise Questions On Funding Gaps

    The prime minister unveiled plans for £17.2 billion ($21.8 billion) in tax cuts at the launch of the Conservative Party's election manifesto on Tuesday, but a headline cut of two percentage points in the payroll tax was put off for three years — and funding plans left some experts unconvinced.

  • June 11, 2024

    FCA Eyes Consumer Impact Of New Legal Cooperation Rules

    The Financial Conduct Authority has set out how it is working with the Financial Ombudsman Service and other bodies under a new duty of legal cooperation required by the Consumer Duty and changing payments regulations.

  • June 11, 2024

    EU Insurers Face Fair Value Scrutiny, Moody's Warns

    Life insurers across the European Union are under mounting pressure from the bloc's regulators to demonstrate that their products provide customers with fair value, according to a rating agency's new report published Tuesday.

  • June 11, 2024

    Industry Groups Want Post-Election Pensions Review

    The next government must urgently carry out a review of pension savings adequacy soon after taking power in order to stave off a looming retirement crisis, a coalition of industry bodies and experts warned.

  • June 11, 2024

    Sunak Pledges Further Tax Cuts In Election Manifesto

    Rishi Sunak said on Tuesday that his Conservative Party would establish a tax system that "rewards work" by slashing a range of levies if it wins the general election, including another cut in the national payroll tax by 2027.

  • June 10, 2024

    BDO Denies Failing To Help In £18.5M Insurance Broker Sale

    Accounting firm BDO LLP has rejected an insurance broker's claims that it is not entitled to payment for merger and acquisition advice because it failed to propose or introduce the buyer that eventually purchased the broker for £18.5 million ($23.6 million).

  • June 10, 2024

    Next Gov't To Face Tough Pension Decisions, IFS Warns

    The next government will need to make some urgent decisions on pension reforms to ensure future retirees are protected, an influential think-tank has warned ahead of the July 4 general election.

  • June 17, 2024

    Hogan Lovells Adds Insurance Pro From Slaughter And May

    Hogan Lovells has bolstered its London corporate insurance practice by tapping a former senior counsel from Slaughter and May as a partner.

  • June 10, 2024

    European Financial Body Calls On UK To Clarify AML Reforms

    A European body representing financial market participants has called on HM Treasury to provide more clarity in the Money Laundering Regulations through planned amendments, including by specifying the exact point when a firm must check a potential customer's background.

  • June 10, 2024

    Lib Dems Vow To Raise Capital Gains Tax For UK's Wealthiest

    The U.K.'s third-largest political party vowed on Monday to raise taxes on the country's wealthiest individuals if it wins the next election, in a bid to raise £5 billion ($6.4 billion) for the National Health Service.

  • June 10, 2024

    DWF Guides Brown & Brown Buy Of NI Broker Rollins

    Insurance giant Brown & Brown Europe Ltd. said Monday it has bought Oscar Rollins & Co. Ltd., a broker based in Northern Ireland, in a deal steered by its in-house legal team and DWF Law.

  • June 10, 2024

    10% Of Early Pension Dippers Regret Withdrawals

    Approximately one in 10 retirees aged 55 and older who withdrew money from their pension before retirement said they regretted doing so, a retirement savings company said on Monday.

  • June 10, 2024

    What Tax Experts Hope To See In Labour's Manifesto

    Labour's policy manifesto, expected to be unveiled on Thursday, will be studied by tax lawyers for more detail on the fiscal planning being carried out by the clear favorite to win the general election, including a final word on lifetime pension savings.

  • June 07, 2024

    Former Allianz Unit Exec Admits Role In $6B Fund Fraud

    A former portfolio manager at Allianz SE's U.S. unit told a Manhattan federal judge Friday that he lied to investors about the risks of the German finance giant's now-defunct Structured Alpha Funds, admitting to his role in a $6 billion fraud.

  • June 07, 2024

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

    The past week in London has seen British broadcaster GB News hit with a libel claim by climate activist Dale Vince, MGM take aim at an immersive events company over intellectual property rights to the James Bond franchise, and law firms Stephenson Harwood and Bowen-Morris & Partners tackle a contracts claim by investment adviser Yieldstreet. Here, Law360 looks at these and other new claims in the U.K.

  • June 07, 2024

    Trio Make First Appearance In FCA's £8M Pension Fraud Case

    Three consultants made their first court appearance on fraud charges in London on Friday to face allegations by the Financial Conduct Authority over an investment scheme in which victims lost £8 million ($10.1 million) of their pension savings.

  • June 07, 2024

    Financial Adviser Gets 8 Years For Legal Funding Fraud

    A London judge sentenced a former financial adviser to eight years in prison on Friday after he was convicted of siphoning £5.8 million ($7.4 million) in secret commission payments from an investment fund in a legal financing fraud.

  • June 07, 2024

    'Squeezed Middle' Pension Schemes Urged To Be Flexible

    Defined benefit pension schemes with assets between £10 million ($12.7 million) and £250 million are the new "squeezed middle" in the retirement savings market, Hymans Robertson has said, encouraging those plans to remain flexible amid the challenges they face.

  • June 07, 2024

    30% Of UK Workers Unsure How To Access Pensions

    An estimated 30% of British workers are unsure about their retirement options and worry about how to access their savings, according to a study published by TPT Retirement Solutions Ltd.

  • June 07, 2024

    Swiss Finance Watchdog Issues New Cyber Warnings

    Switzerland's financial markets regulator issued new guidance for all regulated firms on Friday, telling them how to manage cyber risks after finding that many are failing to take the right steps to prevent attacks, including those against the service providers they use.

  • June 06, 2024

    La. Commercial Property Co. Settles Storm Insurance Dispute

    A Louisiana federal judge has dismissed a commercial property owner's coverage fight over windstorm damage after the company settled in arbitration with a group of 10 insurers.

Expert Analysis

  • Cos. Can Start Preparing Now For Immigration Beyond Brexit

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    Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.

  • #MeToo Pressure On UK Businesses Is Set To Rise

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    Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.

  • Opinion

    UK's Insurer Investigations May Not Help Policyholders

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    The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.

  • The Outlook For Autonomous Vehicles In The UK And US

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    As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.

  • 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.

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