A group of all-risks insurers told the High Court on Tuesday that losses linked to planes stranded in Russia after the invasion of Ukraine should be covered by war-risks insurers because they were a result of Russian counter-measures amid an "economic war."
A group of all-risks insurers told the High Court on Tuesday that losses linked to planes stranded in Russia after the invasion of Ukraine should be covered by war-risks insurers because they were a result of Russian counter-measures amid an "economic war."
Airline carrier Lufthansa has offloaded £120 million ($150 million) of its U.K. pension scheme liabilities to Royal London, the insurer said, in a deal steered by CMS Cameron McKenna Nabarro Olswang LLP.
Government plans to drive growth in the U.K. through redirected investment from retirement savings schemes must prioritize environmental concerns and sustainability, a consultancy said Tuesday.
A cross-party group of members of Parliament has started an inquiry into the use of artificial intelligence in financial services, after recent revelations about Chinese AI startup DeepSeek showed the market's volatility.
The City watchdog has warned smaller payments firms that they sometimes fail to act in the best interests of customers and have weaknesses in their financial crime controls.
Insurance broker Miller said it has agreed to acquire specialist reinsurance broker AHJ Holdings Ltd. for an undisclosed sum, reaching a "major milestone," in a deal guided by Herbert Smith Freehills LLP and Stephenson Harwood LLP.
The U.K.'s financial compensation scheme has passed £25 million ($31 million) of its staff pension liabilities to Pension Insurance Corp. PLC, the insurer said, in a deal guided by Herbert Smith Freehills LLP, Eversheds Sutherland and Arc Pensions Law LLP.
