Insurance UK

  • July 10, 2024

    Gov't Appoints Minister For Both Treasury And DWP

    The new Labour government has appointed a minister spanning HM Treasury and the Department for Work and Pensions, a move that analysts said could indicate a more joined-up approach to pensions policy.

  • July 10, 2024

    Aviva Completes £249M Deal, Returns To Lloyd's

    Aviva PLC said on Wednesday that it has completed the acquisition for £249 million ($319 million) of insurance group Probitas, including its Lloyd's of London platform, which marks its return into the specialist market after more than two decades.

  • July 10, 2024

    Hellenic Bank To Buy French Insurer's Greek Biz For €182M

    Hellenic Bank of Cyprus said Wednesday that it will buy the Cypriot and Greek insurance operations of French insurer CNP Assurances for €182 million ($197 million) to strengthen its insurance services.

  • July 09, 2024

    Global Standard Setter Guides Firms On Third-Party Risk

    A global banking standard setter on Tuesday proposed new principles to guide banks and regulators on how to manage and supervise risks from services increasingly outsourced to external organizations due to technology growth.

  • July 09, 2024

    Pensions Bill Unlikely In King's Speech, Aegon Says

    Sweeping pension reform is unlikely to be included in the first King's Speech under Keir Starmer's newly elected government, pensions provider Aegon said Tuesday as it predicted that existing changes in retirement savings policy might take center stage.

  • July 09, 2024

    FCA To Require Criminal Record Checks On New Firm Owners

    The Financial Conduct Authority has proposed to require owners and controllers of financial firms applying for authorization to obtain criminal background checks.

  • July 09, 2024

    Ex-Pensions Minister Timms Returns To DWP In New Gov't

    Former pensions minister Stephen Timms has returned to the Department for Work and Pensions in the new Labour government, the ministry has said. 

  • July 09, 2024

    BBC Rebuffed In Effort To Cut Costs Of £20B Pension Scheme

    An attempt by the British Broadcasting Corp. to reduce benefits for employees enrolled in its £19.8 billion ($25.4 billion) pension scheme has been rebuffed as the Court of Appeal ruled in favor of members on Tuesday.

  • July 08, 2024

    Audit Watchdog Creates New Monitoring, Digital Functions

    Britain's accounting watchdog said Monday it will create two new market functions to support enforcement and supervision as well as digital reporting, driving U.K. growth as part of its response to earlier government-led criticisms.

  • July 08, 2024

    Reeves Sets Out Plans For Pensions Investing, Fiscal Review

    HM Treasury will work to direct pensions investment to British businesses, create a national wealth fund and conduct a fiscal review into government finances, Rachel Reeves said in her first public speech as chancellor on Monday.

  • July 08, 2024

    Pensions Watchdog To Probe Master Trust Investment Plans

    The Pensions Regulator said on Monday that it will be ramping up its focus on the investment strategies of Britian's master trusts to ensure their plans and methods deliver best results for savers.

  • July 08, 2024

    Aegon Begins €200M Share Buyback Program

    Aegon NV began a share repurchase program worth up to €200 million ($220 million) on Monday, a move expected to lower the size of the Dutch pensions and insurance specialist's outstanding share capital.

  • July 08, 2024

    NIG Sued By Asset Manager Over £4M Fire Destruction

    Parker Asset Management Ltd. has sued a subsidiary of U K Insurance Ltd. for allegedly failing to honor an insurance policy after a fire destroyed one of the firm's commercial properties and resulted in a loss of about £4.2 million ($4.5 million).

  • July 08, 2024

    Royal Mail Sets Date For New 'Third Way' Pension Plan

    The operator of Royal Mail said Monday that it will launch a collective defined contribution retirement savings scheme for its workers after a series of laws and regulations cleared the way for the first pension plan of its kind in the U.K.

  • July 08, 2024

    EU Plans To Cut Some Financial Reporting Requirements

    The markets watchdog of the European Union proposed on Monday to combine and reduce regular information reporting requirements from credit ratings agencies, benchmark administrators and market transparency infrastructures.

  • July 05, 2024

    EU Watchdog Sets Out Sustainability Reporting Expectations

    The European Union's financial markets regulator on Friday set out its expectations on new sustainability reporting standards for large companies with shares listed on stock exchanges and their regulators.

  • July 05, 2024

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

    This past week in London has seen collapsed sports television company Arena Television hit Bank of Scotland and Lloyds Bank with a claim, James Vorley, the Deutsche Bank metals trader convicted of fraud, sue his former employer, and journalist John Ware file a defamation claim against Pink Floyd band member Roger Waters and Al Jazeera Media Network. Here, Law360 looks at these and other new claims in the U.K.

  • July 05, 2024

    Matrix KC Richard Hermer Tapped For Attorney General

    Matrix Chambers' human rights barrister Richard Hermer KC will serve as the U.K.'s attorney general in a surprise appointment from newly-elected Prime Minister Keir Starmer late Friday.

  • July 05, 2024

    Liz Kendall Tapped To Head Labour's DWP Amid Reform Talk

    The new Labour government named Liz Kendall as Secretary of State for Work and Pensions on Friday as speculation grew about looming reforms to the U.K. benefits system.

  • July 05, 2024

    Shabana Mahmood Named Labour's New Justice Secretary

    Prime Minister Keir Starmer named former barrister Shabana Mahmood as the Labour government's new justice secretary on Friday following a sweeping victory in the U.K. general election.

  • July 05, 2024

    Starmer Picks Reeves For Treasury To Steer Growth Aims

    Prime Minister Keir Starmer has handed the reins of the U.K.'s fiscal and economic policy to Rachel Reeves, formally naming her as the next chancellor of the exchequer in the first of a round of cabinet appointments on Friday.

  • July 05, 2024

    Starmer Starts Work As Cabinet Appointments Expected

    Keir Starmer, the newly elected prime minister, promised change that focuses on the economy and wealth creation as he prepared on Friday to begin appointing cabinet ministers to form the Labour Party's first government since 2010.

  • July 05, 2024

    Investment Cos. Ask New Gov't To Remove Disclosure Rules

    A trade body urged the incoming Labour government on Friday to remove unfair cost disclosure rules for investment companies that put the sector at a competitive disadvantage.

  • July 05, 2024

    Aegon Calls On Labour Gov't To Set Up Pensions Commission

    Pensions provider Aegon Ltd. called on the new Labour government on Friday to establish an independent pensions and savings commission within its first 100 days in office after it won an overwhelming victory in the general election.

  • July 04, 2024

    Major Pensions Shake-Up Likely After Labour Win

    The U.K. pensions sector may have been sold the promise of political consensus — but the election of a new Labour government opens the door for a fundamental shift in policy for the industry over the longer term.

Expert Analysis

  • Surefire Marketing Methods To Build Your Legal Practice

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    Attorneys who take the time and the risk to showcase their talents through speaking, writing and teaching will find that opportunities will begin building upon themselves, says Daniel Karon of Karon LLC.

  • Mandatory Mediation May Lie Ahead For England And Wales

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    The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.

  • Key Risks And Developments For UK Law Firm Culture In 2020

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    In 2020, law firms throughout the U.K. will be increasingly reshaped by rapid changes in societal expectations and advances in technology, say Helen Rowlands and Niya Phiri of Clyde & Co.

  • 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.

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