Insurance UK

  • August 19, 2024

    RPC Helps Japanese Fintech Debut In London After Purchase

    Japanese crowdfunding platform MOH Nippon PLC was admitted to trading on the London Stock Exchange on Monday after being bought by a special purpose acquisition company for £34.5 million ($44.7 million).

  • August 19, 2024

    Pinsent Masons Steers Aviva's £34M Macmillan Pension Deal

    Aviva PLC has covered £33.7 million ($43.7 million) of pension liabilities for Macmillan Cancer Support, which covers the retirement savings plans of all the retirees and deferred members of the British charity.

  • August 16, 2024

    Stay Lifted On $110M Coal Co. Suit As Arbitration Drags On

    A Missouri federal judge has grudgingly lifted a pause on litigation between several insurance companies and a St. Louis coal producer after its mines sustained more than $115 million in fire damage, saying it can pursue claims against domestic insurers separately from insurers seeking arbitration.

  • August 16, 2024

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

    This past week in London has seen Barry Manilow sued by music rights company Hipgnosis, a struck-off immigration lawyer take on the Solicitor's Disciplinary Tribunal and the former CEO of a collapsed bridging loan firm start proceedings against the FCA. Here, Law360 looks at these and other new claims in the U.K.

  • August 16, 2024

    Pension Scheme Endgames Pushed Back Amid Falling Yields

    The average timeline for U.K. pension schemes to reach a point where they can buy out their liabilities with an insurance company was extended last month, due to falling bond yields, experts said.

  • August 16, 2024

    PwC Fined £15M For Failing To Flag LC&F Fraud Suspicion

    The Financial Conduct Authority said Friday it has fined PricewaterhouseCoopers LLP £15 million ($19.3 million) for failing to report to the regulator its belief that London Capital & Finance PLC might be involved in fraud.

  • August 16, 2024

    Revolut Valued At $45B After Secondary Equity Issue

    U.K. fintech Revolut said Friday it has secured a $45 billion valuation in a share sale by its employees to new and existing investors, cementing its status as Europe's most valuable private technology company.

  • August 16, 2024

    Pensions Body Offers Guide For Uncertainty Of Funding Code

    A trade body for the pensions sector has launched a guide on the implementation of a new funding code, amid disruption caused by the timing of the general election.

  • August 16, 2024

    FCA Apologizes For Treatment of 'Voluntary Requirement'

    Britain's financial watchdog has apologized for an unnecessary extension of two years of publishing on its register a "voluntary requirement" for a company indicating failure to meet standards after the Complaints Commissioner upheld a claim.

  • August 15, 2024

    Union Group Calls For UK To Address Gender Pension Gap

    The Trades Union Congress has said retired women receive £7,000 ($9,000) a year less from their pensions than retired men, a gender gap, it warns, that is closing far too slowly.

  • August 15, 2024

    Ashurst-Led HK Biz Buys Wind Farms From Aviva For £350M

    A consortium led by CKI has agreed to buy 32 U.K. onshore wind farms from the asset management arm of insurance giant Aviva PLC for £350 million ($450 million), as the global infrastructure business eyes an expansion into Europe of its sustainability portfolio.

  • August 15, 2024

    Gov't Urged To Unlock £16B LGPS Pensions For Investment

    The U.K. government could immediately unlock around £16 billion ($20.5 billion) of investment in U.K. infrastructure just by lifting thresholds on the asset class constraining the Local Government Pension Scheme, a report found.

  • August 15, 2024

    FCA Censures Audit Firm On Client Assets Report Breaches

    The Financial Conduct Authority said Thursday it has censured auditor Macintyre Hudson LLP for failing to report breaches of the FCA's rules on treatment of client assets.

  • August 15, 2024

    RSA Beats Perimenopausal Worker's Discrimination Claim

    RSA Insurance did not discriminate against an employee who claimed to have experienced symptoms of perimenopause at the time she was dismissed, an employment tribunal has found, ruling that she had exaggerated the effect of her health condition.

  • August 15, 2024

    UK Insurance M&A On Track For 150 Deals In 2024

    The number of mergers and acquisitions that involve U.K. insurance agencies is on track to rise to 150 in 2024, despite a more muted first half of the year, a consultancy said Thursday.

  • August 14, 2024

    NC Court Defers Ruling To Unseal Cadwalader Coverage Suit

    The North Carolina Business Court on Monday did not outright reject a bid by a Lloyd's of London syndicate looking to unseal a complaint by Cadwalader Wickersham & Taft LLP seeking coverage for a November 2022 data breach, though the judge did admonish the syndicate for failing to consult with Cadwalader's counsel before filing the motion.

  • August 14, 2024

    Reservist Army Major Denied Pension Plan Wins Bias Claim

    A retired army reserve officer has won his claim against the Ministry of Defence alleging that its refusal to let him join the armed forces pension plan left him worse off than full-time military personnel.

  • August 14, 2024

    Insurer Sues Underwriter For €1.6M For Cancellation Failure

    A Liechtenstein-based insurer has accused a German underwriter in a London court of failing to end contracts correctly, exposing it to claims in German courts that have cost it €1.6 million ($1.76 million) in damages.

  • August 14, 2024

    Aegon Launches Digital Pension Comparison Service

    Financial firm Aegon UK PLC launched a digital pension transfer comparison service on Wednesday with The Pension Lab to enable savers to compare the costs of different plans.

  • August 14, 2024

    Pension Funding Surplus Rises To £475B Despite Rate Cut

    The funding surplus of British retirement savings plans rose to £475.5 billion ($611 billion) at the end of July, according to official figures released on Wednesday, even as experts warned of the need to hedge against fresh interest rate cuts.

  • August 14, 2024

    FCA Fines, Bans Consultant For Leaving Clients Uninsured

    The financial regulator said Wednesday that it has banned an insurance consultant from working in financial services and hit him with a fine of just over £5,000 ($6,430) fine for using funds from clients to pay his business and personal debts.

  • August 14, 2024

    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 13, 2024

    Travelers Defends DWFM Beckman Over Investment Advice

    The insurer of now-defunct DWFM Beckman LLP has hit back against claims that the firm negligently advised a real estate investor on an almost £20 million ($25.5 million) deal, denying that the firm advised her on the investment at all.

  • August 13, 2024

    UK Charity Sector Pension Funding Reaches £50B

    The charity sector's pension schemes have seen funding reach £50 billion ($63.9 billion) in 2022, potentially leading to more pension buy-outs, according to a report published Tuesday by pensions consultancy Hymans Robertson LLP.

  • August 13, 2024

    Oil Co. Denies Breaching Terms Of Shell Asphalt Deal

    A Greek oil business has hit back against a $3.7 million claim by Shell over a soured asphalt cargo sale, arguing it did not breach the terms of the deal by delivering a different product than specified.

Expert Analysis

  • 5 Cyber Insurance Pitfalls To Avoid In The UK

    Author Photo

    Faced with the opportunity to purchase cyber risk insurance to mitigate the damage caused by cyber events, prospective policyholder companies need all the help they can get in order to navigate this increasingly complex part of the U.K. insurance market, says Richard Mattick of Covington & Burling LLP.

  • UK Unexplained Wealth Orders: More Bark Than Bite So Far

    Author Photo

    This month, the U.K. National Crime Agency successfully resisted a challenge to its first unexplained wealth orders. This is a victory, but the agency has some way to go to show that UWOs will be a meaningful tool in the U.K.'s anti-money laundering arsenal, says Fred Saugman of WilmerHale.

  • GDPR Compliance Questions For Blockchain Firms

    Author Photo

    The General Data Protection Regulation applies to blockchain networks that directly store personal information. However, blockchain technology can make compliance challenging, and also raises questions regarding who bears responsibility for compliance, say attorneys at Covington & Burling LLP.

  • Knowledge Management: An Unsung Hero Of Legal Innovation

    Author Photo

    As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.

  • Uncertainty Concerning The UK's Proper Purpose Rule?

    Author Photo

    The U.K. Supreme Court's judgment in Eclairs v. JKX seemingly opened the door for a broad interpretation of the proper purpose rule, but despite the confusion, the rule will continue to operate as a useful legal safeguard for shareholders, say Nick Hoffman and Conal Keane of Harney Westwood & Riegels LLP.

  • How Europe's AML Regime Is Tackling Virtual Currencies

    Author Photo

    The use and provision of virtual currency services have remained largely unregulated in the European Union, but its newest anti-money laundering directive could be the first step to tougher regulation, say Chris Warren-Smith and Paul Mesquitta of Morgan Lewis & Bockius LLP.

  • UK Ruling Signifies Greater Cross-Border Sharing Of Data

    Author Photo

    In KBR v. SFO, the U.K. High Court confirmed that the Serious Fraud Office can require foreign companies to produce documents held outside the U.K. as long as there is a sufficient connection between the company and the jurisdiction. This judgment will embolden other agencies with similar compulsory document production powers, says Andrew Smith of Corker Binning.

  • Why Law Firms Should Monitor The Dark Web

    Author Photo

    Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.

  • Lessons From UK's Data Backlash

    Author Photo

    Tesco Bank and British Airways are the latest British icons to find themselves in legal difficulties regarding data breaches, exemplifying the breadth of breach-related risks beyond the established route of the Information Commissioner's Office, says Kim Roberts of King & Spalding LLP.

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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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'

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

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!