Insurance UK

  • August 02, 2024

    BNP Paribas To Buy Axa's Investment Manager For €5.1B

    BNP Paribas SA has said it will buy an investment management subsidiary from French insurer Axa SA for €5.1 billion ($5.5 billion) to create a combined platform with €1.5 trillion of assets under management.

  • August 01, 2024

    City Firms To Invest Up To £20B Of Pension Funds In UK Biz

    Phoenix Group and Schroders have announced plans to invest as much as £20 billion ($25.7 billion) of pension money into private markets over the next decade in line with wider industry commitments to direct retirement savings capital toward the British economy.

  • August 01, 2024

    EU Watchdog Warns Of Risk From Global Crypto-Asset Firms

    Europe's financial markets watchdog has warned national regulators to address the risk that global crypto groups may seek authorization in the European Union to obtain clients unlawfully and expose them to non-EU-regulated services.

  • August 01, 2024

    Natural Catastrophe Losses In 2024 Hit $62B, Munich Re Says

    Total global insured losses caused by natural catastrophes reached $62 billion in the first half of 2024, Munich Re has reported, a figure that significantly surpasses the 10-year average of $37 billion for half-year data.

  • August 01, 2024

    Early Pension Dips Raise Long-Term Concerns, Insurer Says

    Pensions insurer Just Group has said official government statistics showing that seven in 10 people taking flexible payments from their pensions are younger than 65, raising questions about the sustainability of retirement savings in later life.

  • August 01, 2024

    Accounting Standards Setter Eyes Better Climate Reporting

    A global accounting standards setter has proposed "new illustrative examples" to improve how companies report climate change-related uncertainty and other factors in their financial statements.

  • August 07, 2024

    RPC Recruits New Insurance Partner From Womble Bond

    Reynolds Porter Chamberlain LLP has hired Christian Charlesworth as an insurance partner from Womble Bond Dickinson (UK) LLP to join its office in the southwestern English city of Bristol.

  • July 31, 2024

    SFO Eyes Potential £237M Legal Bill For ENRC Misconduct

    The Serious Fraud Office has registered a potential £237.7 million ($305 million) payment to ENRC for damages over findings that its officers encouraged a former partner at Dechert LLP to divulge confidential information about alleged corruption at the Kazakh miner.

  • July 31, 2024

    Crashes Top $15B Aviation Insurance Claims, Allianz Says

    Plane crashes and collisions accounted for almost two thirds of the aviation insurance claims valued at $15 billion in the last five years, according to a report by German insurer Allianz SE published Wednesday.

  • July 31, 2024

    Budget Cuts 'Jeopardize' Pension Portals, Aegon Warns

    The Labour government's decision to cut £50 million ($64 million) from its communication and marketing budget for the next two years could jeopardize the successful rollout of the long-delayed pensions portal program, provider Aegon has warned.

  • July 31, 2024

    Gov't Plans Backstop Legislation To Tackle Audit Backlog

    The new Labour government said Wednesday it is preparing legislation to introduce a statutory backstop as the U.K. faces a growing backlog of audits of local authorities.

  • July 31, 2024

    FCA Maintains Restrictions On London Stone Securities

    The Financial Conduct Authority said Wednesday that it will continue to restrict London Stone Securities, preventing the wealth manager from conducting any regulated activities because of serious concerns that it is not delivering good results for clients.

  • July 31, 2024

    Aussie Bank ANZ Acquires Suncorp Unit For $3.2B

    Australia and New Zealand Banking Group Ltd. said Wednesday that it has acquired Suncorp Bank for approximately 4.9 billion Australian dollars ($3.2 billion), two years after it signed the deal.

  • July 31, 2024

    Pension Plans Do Minimum ESG Compliance, Watchdog Says

    Too many retirement savings plans attain only minimum compliance with environmental, social and governance standards, The Pensions Regulator has said, and urged them to improve their approach.

  • July 30, 2024

    Eversheds-Led Greggs Lands £100M Pension Deal With Aviva

    Aviva PLC has insured the retirement savings plans of more than 600 members of British bakery and café chain Greggs PLC in a buy-in transaction of £100 million ($128.4 million), with the deal guided by Eversheds Sutherland.

  • August 06, 2024

    HSF Hires Former CMS Insurance Head In Madrid

    Herbert Smith Freehills LLP has hired an experienced insurance expert to join its team in the Spanish capital, as the firm looks to bolster its practice with added expertise in the sector.

  • July 30, 2024

    Regulator Highlights Quality Gaps Among Top Auditors

    The Financial Reporting Council said Tuesday that there is a widening gap between BDO LLP and Forvis Mazars LLP and the better performance of the Big Four accounting firms for high-quality audits of major U.K. companies.

  • July 30, 2024

    Pension Tax Reform Could Unlock £100B For UK Growth

    Changing how pensions are taxed in the U.K. could potentially unlock more than £100 billion ($128 billion) for domestic investment over the next five years, according to a recent analysis by a pensions consultancy.

  • July 30, 2024

    Pensioner Welfare Cuts Create 'Cliff Edge,' LCP Says

    The Labour government's decision to cut annual winter fuel payments worth up to £300 ($385) for retirees not on pension credit or other means-tested benefits will create an unwelcome "cliff edge" for savers, a consultancy has said.

  • July 30, 2024

    Pension Firms Meeting Equity Investment Goals, Insurers Say

    Pension firms that signed up to an agreement to allocate a minimum of 5% of defined contribution funds to unlisted equities by 2030 have laid "strong foundations" in line with the target, British insurers said Tuesday.

  • July 29, 2024

    ECJ Nixes Swedish Dividends Tax On Foreign Pension Funds

    Sweden can't collect a withholding tax on dividends distributed by Swedish companies to public pension funds abroad while exempting its own public funds because that is inconsistent with European Union law requiring the free movement of capital, the European Court of Justice said Monday.

  • July 29, 2024

    Gov't Consults On Tax Hikes For Fund Managers, Non-Doms

    Chancellor Rachel Reeves said Monday that an autumn Budget planned for Oct. 30 will include feature selected tax rises, a warning accompanied by strong hints from HM Treasury that fund managers and non-domicile taxpayers could take a bigger hit.

  • July 29, 2024

    New Defined Benefit Funding Code Laid Before Parliament

    Britain's pensions watchdog on Monday said its long-awaited funding code for defined benefit retirement savings plans has been laid before Parliament, marking what it called a "significant step."

  • July 29, 2024

    Zurich Invests $60M In Cyber Insurance Provider For SMEs

    Swiss insurance giant Zurich has invested $60 million in Cowbell, a provider of cyberinsurance for small businesses, the digital risk company said, amid growing industry concerns over cyberthreats.

  • July 29, 2024

    FCA Weighs Taking Protection From Some Insurance Clients

    The Financial Conduct Authority proposed on Monday a change to the criteria of classifying a small business as a commercial insurance client by removing consumer protection rules from some firms when they buy insurance products. 

Expert Analysis

  • Breaking Down The UK's Revised Corporate Governance Code

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

  • Opinion

    A Revolution For 3rd-Party Funding In The UK

    Author Photo

    Only 10 years ago, third-party funding was an exotic black art at the fringes of appropriate behavior in the United Kingdom. Now it is formally approved and championed by Court of Appeal judges and there is a wide range of funding options available to practitioners, says Guy Harvey of Shepherd and Wedderburn LLP.

  • UK Seeks To Balance Asset Protection And Protectionism

    Author Photo

    In response to the evolving geopolitical threats of the 21st century, the United Kingdom at the end of July began an initiative to enhance its powers to review or block foreign acquisitions of sensitive British assets. The challenge will be striking a balance between protecting legitimate strategic concerns and facilitating international investment, say attorneys at King & Spalding LLP.

  • Is It Time To Prosecute UK Cos. For Human Rights Violations?

    Author Photo

    The idea of holding companies criminally liable for human rights abuses committed overseas has gained traction over the past decade. Though the U.K. government has made it clear that it has no immediate plans for further legislation in this area, calls for corporate criminal liability are only likely to get louder, say Andrew Smith and Alice Lepeuple of Corker Binning.

  • 6 Trends Will Shape Future International Commercial Disputes

    Author Photo

    The world of international litigation and arbitration tends to move slowly — however, I expect the pace of change to accelerate in the coming decade as six trends take hold, says Cedric Chao, U.S. head of DLA Piper's international arbitration practice.

  • Fortis Case Confirms Viability Of Dutch Settlement Law

    Author Photo

    A Dutch court's approval this month of a €1.3 billion ($1.5 billion) collective settlement of claims brought by shareholders of the former Fortis shows that the Dutch Act on Collective Settlement of Mass Claims can be used to resolve transnational disputes on a classwide, opt-out basis, say Jonathan Richman of Proskauer Rose LLP and Ianika Tzankova of Tilburg University.

  • UK Reflective Loss Rule Impedes Shareholder Recovery

    Author Photo

    The U.K. High Court's recent decision in Breeze and Another v. Chief Constable of Norfolk illustrates the great difficulty shareholders face when trying to recover loss caused by a wrong done to a company, especially if the company is unwilling or unable to pursue the claim itself, say David Gerber and Joshua Reynolds of Arnold & Porter.

  • Opinion

    Law360's Global 20 Doesn't Acknowledge Global Networks

    Author Photo

    While I read with interest Law360's report analyzing the top 20 global law firms of 2018, I also noticed it doesn't tell the whole story. Global networks of independent law firms compare favorably with multinational firms in terms of geographic coverage, legal expertise, and awareness of local cultures and customs, says Glenn Cunningham of Interlaw Ltd.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Insurance UK archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!