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Insurance UK

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FCA Rebalances Insurance Priorities With Fewer Rules

The Financial Conduct Authority has said it will attempt to avoid creating new rules for the insurance sector to cut regulatory red tape and help business, raising concerns that the watchdog is softening its commitment to protect consumers.

Stock exchange curve appears on a smartphone screen over a map showing the Strait of Hormuz on a laptop computer screen.

UK Insurers Hold Cover For Persian Gulf Shipping, At A Price

Insurers in the specialist London market continue to provide insurance for high-risk shipping in the Persian Gulf despite the intensifying war with Iran, market experts say, but the price of cover has soared to eye-watering levels.

FCA Tests Global Reach In HTX Crypto-Exchange Litigation

The landmark legal case brought by the Financial Conduct Authority against HTX, which the regulator says has promoted crypto-asset services to U.K. consumers without authorization, will be a litmus test, establishing whether it has the teeth for enforcement against overseas crypto-exchanges, lawyers say.

FCA May Be Forced To Set Lower Fines After Appeal Setbacks

The Financial Conduct Authority might be forced to rethink how it justifies the size of its fines after being forced to cut penalties after referral to the Upper Tribunal, raising questions about its ability to make enforcement decisions stick, legal experts caution.

March 12, 2026
UK Personal Pension Transfer System 'Not Fit For Purpose'

Policymakers should slash the statutory deadline for pension transfers from six months to 30 working days, a group of digital retirement savings platforms said Thursday, as they proposed several changes to a system they described as "not fit for purpose."
March 12, 2026
EU Watchdog Reveals Plans To Boost Investing, Supervision

The European Union's financial markets watchdog set out plans on Thursday to simplify retail investing, having found that consumers mistrust markets because of conflicts of interest, high fees and insufficient enforcement against scams.
March 12, 2026
Barnett Waddingham, Insurer PIC Expand Partnership

Consulting and administration firm Barnett Waddingham said Thursday it has extended its partnership with specialist coverage firm Pension Insurance Corp. by taking on full administration services for two defined benefit pension schemes progressing toward full buyout.
March 12, 2026
Iran Oil Crisis Not Due To Lack Of Insurance, Trade Body Says

Oil tankers are staying away from the Strait of Hormuz because of concerns about safety rather than a scarcity of insurance, an insurance trade body has said.
March 12, 2026
Insurers Back Bid To Boost Outcomes For Pension Savers

The Association of British Insurers has given its backing to proposals by Britain's finance watchdog to focus on ensuring long-term value and better outcomes for pension savers in 2026.
March 11, 2026
Pensions Sector Told To Protect Against Impersonation Fraud

Britain's retirement savings watchdog said Wednesday that the pensions industry must take immediate action to protect savers amid a reported rise in impersonation fraud.
March 11, 2026
Hogan Lovells Guides Dutch Insurer On €8B Pension Deals

Dutch insurer Achmea Pension & Life Insurance said Wednesday it has offloaded €8 billion ($9.3 billion) of the longevity risk on its pension liabilities to Munich Re and Pacific Life Re in a deal steered by Hogan Lovells International, Marcfarlanes, NautaDutilh and Debevoise.
March 11, 2026
Legal & General To Start Record £1.2B Shares Buyback

Legal & General Group PLC said Wednesday it will begin a £1.2 billion ($1.6 billion) shares buyback, the largest in its history, as the British insurer and asset manager moves to return surplus capital to shareholders while reshaping its business.
March 11, 2026
Direct Line Unit Fined £10.6M For Solvency Miscalculation

The Prudential Regulation Authority said on Wednesday that it has fined UK Insurance Ltd. £10.63 million ($14.27 million) for miscalculations that led the insurer to overstate its solvency position to the watchdog and the market.
March 10, 2026
Insurer Can't Oust Arbitrator In Asbestos Fight, Court Told

An arbitrator and a group of reinsurers sought to toss an insurer's bid to disqualify the arbitrator from a dispute over coverage for millions of dollars' worth of asbestos bodily injury claims, telling a New York federal court that it lacks authority to remove him.
March 10, 2026
UK Pension Surplus Growth May Dip Amid Middle East War

The conflict in the Middle East has introduced "significant volatility and uncertainty" for pension scheme trustees despite the aggregate funding surplus of U.K. defined benefit plans growing in February, Broadstone said Tuesday.
March 10, 2026
Canada Life Completes £105M Pension Buy-In Deal

Canada Life said Tuesday it has completed a £105 million ($141.4 million) full-scheme buy-in with a U.K. pension scheme sponsored by an unidentified industrial company, securing benefits for more than 1,800 members.
March 10, 2026
FCA Pushes Pension Providers For Input On Value Creation

The Financial Conduct Authority called on pensions providers and managers on Tuesday to prioritize further engagement with the regulator on a planned framework for workplace pensions, asking them to show how much value for money they offer.
March 10, 2026
FRC Investigates Vistry Accountants Over Financial Forecasts

The U.K.'s accounting watchdog on Tuesday launched a probe into two former employees of Vistry in the wake of a £165 million ($222 million) miscalculation two years ago that cut into the homebuilder's profits.
March 10, 2026
UK Insurers' Body Backs 'United' Gov't Anti-Fraud Strategy

The Association of British Insurers said on Tuesday that it backed the "united approach" at the heart of the government's latest fraud strategy, which is designed to prevent the most common crime in the U.K.
March 10, 2026
Insurer Sabre Eyes Another £5M Buyback As Premiums Fall

Sabre Insurance Group PLC said Tuesday that it will reward shareholders with another share repurchase program worth up to £5 million ($6.7 million) as it reported lower premiums.
March 09, 2026
Retailer Can't Add Broker To Rosenblatt Negligence Case

A fashion retail entrepreneur cannot sue an insurance broker as part of a wider negligence case against a law firm over the collapse of his fashion brands Jaeger and Aquascutum, with a London judge ruling that he must keep the total number of defendants at 19.
March 09, 2026
Insurers Sued For £35M Over Failure To Cover PI Claims

A pensions provider has sued a group of insurers for failing to indemnify it for payouts to hundreds of investors, asking the court to restore the £35 million ($47 million) annual liability limits of its policies once the sum had been paid out in claims.
March 09, 2026
UK Master Trusts Told To Prepare For Pensions Bill

Britain's retirement savings watchdog said on Monday that trustees of defined contribution master trusts should prepare a growth strategy before requirements set out in forthcoming pensions legislation designed to consolidate smaller plans take effect.
March 09, 2026
Clifford Chance Led Generali In €337M Units Sale To Zurich

Italian insurance company Generali said Monday that it has agreed to sell its property and casualty insurance business in Ireland and Northern Ireland to Zurich Insurance Group for €337 million ($390 million) in an all-cash deal.
March 09, 2026
UK Pension Funds Warned Over Turmoil From Iran War

Pension fund managers should be prepared for turmoil in credit markets because of the ongoing conflict in the Middle East, a financial consultancy has warned.
March 09, 2026
Athora Raises €3.5B As Deal For Insurer PIC Gets Green Light

Retirement savings giant Athora Holding Ltd. said it has raised €3.5 billion ($4 billion) to fund its acquisition of the U.K.'s Pension Insurance Corp. PLC, as it disclosed it had received regulatory approval for the mega-deal.
March 09, 2026
UK Insurers Call For Trial Run Of Value-For-Money Framework

The Association of British Insurers has said the planned framework designed to strengthen oversight of the U.K.'s pension programs should be trialed before any assessments are binding, to prevent errors that might dent credibility.
March 08, 2026
Gov't Launches New Fraud Squad To Fight Online Scams

A new fraud squad designed to crack down on online fraud and overseas scam compounds will begin operations in April, drawing together expertise from law enforcement, the government, banks and big tech, the Home Office said on Sunday.
March 06, 2026
Taxation With Representation: Slaughter And May, Kirkland

In this week's Taxation With Representation, British insurer Beazley accepts a cash takeover offer from Zurich Insurance Group, a consortium of investors led by Blackrock's Global Infrastructure Partners and the EQT Infrastructure VI fund buys energy company AES, and private equity firm Thoma Bravo acquires third-party logistics provider WWEX.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

Why SRA Is Cracking Down On 'No Win, No Fee' Law Firms

Harriet Gamper at the Solicitors Regulation Authority discusses the regulator’s recent warning notice concerning "no win, no fee" arrangements in high-volume consumer claims, aimed at offering lawyers clarity in understanding their obligations following findings that many law firms were failing in their duty to protect clients' best interests.
How UK Securitization Reforms Will Affect Industry

The Prudential Regulation Authority’s recent proposals to reform securitization requirements will offer greater structuring flexibility, reduced operational complexity and lower compliance costs, although with the rationale for imposing stand-alone obligations on institutional investors not clear, dissenting voices are likely, say lawyers at Skadden.
Striking A Balance Between AI Innovation And Regulation

The Financial Conduct Authority's recent consultation on the impact of artificial intelligence on financial services highlights the debate between regulators, the government and industry over whether current regulatory frameworks can balance innovation with risk management, say lawyers at Womble Bond.
FCA Enforcement Newsletter Reflects Shift Toward Openness

The Financial Conduct Authority’s inaugural Enforcement Watch newsletter provides clarity on the cases the regulator is opening and highlights its approach to early communication of enforcement activity, offering a welcome insight into its emerging priorities, says David Hamilton at Howard Kennedy.
FCA's Investment Regime May Prove A Double-Edged Sword

The Financial Conduct Authority’s final rules on consumer composite investments intend to support retail investors in making more informed decisions while affording firms greater flexibility, but continuing with opaque methodologies will require greater operational and compliance effort in the short term, say lawyers at Fried Frank.
How FCA's Client Reforms May Boost Investment Access

The Financial Conduct Authority’s recent proposals to reform the professional client categorization regime and simplify conflicts of interest rules are likely to be welcomed, although firms will need to navigate the increased responsibility that comes with greater flexibility, say lawyers at Skadden.
Consolidation Of Lloyd's Bylaws Will Be Useful For Members

Lloyd’s of London’s recent consolidation of its bylaws will make the rules governing its market more accessible, providing immediate results as well as the necessarily flexible framework to address the future needs of its participants, say lawyers at Skadden.
4 Securities Trends For Pension Trustees To Watch In 2026

With the U.K. signaling it will soon demand more active fiduciary stewardship from pension trustees, British and EU fund managers must follow key trends in mass securities litigation, investment disclosures, and U.S. enforcement that could require intervening for their investors in 2026, say lawyers at Labaton Keller.
10 Financial Regulatory Changes To Prepare For In 2026

A number of changes in the financial regulatory sphere are due this year, from targeted support to payment safeguarding and a new consumer composite investments regime, and firms should plan to address the policies and regulatory strategies relevant to them, say lawyers at Womble Bond.
FCA Enforcement Trends In 2025 And Expectations For 2026

The Financial Conduct Authority’s clear intention in 2025 to conduct fewer, faster investigations and reinforce transparency is likely to continue in 2026, with a dual-pronged approach of targeted enforcement and assertive supervision to fight crime, support growth and help consumers as its priorities, say lawyers at WilmerHale.
Judicial AI Guidance Update Shows Caution Still Prevails

The judiciary’s recently updated guidance on the use of artificial intelligence warns judges and tribunal members about misinformation and white text manipulation, providing a reminder that AI tools cannot replace direct engagement with evidence and reflecting a broader concern about their application when handling confidential material, say lawyers at Hogan Lovells.
How Russia Sanctions Trajectory Is Affecting UK Legal Sector

The proliferation of U.K. and European Union sanctions targeting Russia has led to a vast increase in legislative provisions, and lawyers advising affected businesses should expect a complex and evolving legal landscape for the foreseeable future, says Rob Dalling at Jenner & Block.
Navigating Legal Privilege Issues When Using AI

The recent explosion in artificial intelligence has led to prompts and AI outputs that may be susceptible to disclosure in proceedings, and it is important to apply familiar principles to assess whether legal privilege may apply to these interactions, say lawyers at HSF.
A Look At Factors Affecting Ombudsman Complaint Trends

Lawyers at Womble Bond provide an analysis of the Financial Ombudsman Service's complaint trends in 2025, highlighting the impact of changes within the FOS and external factors on the financial sector's redress system.
What To Know About FCA's Short Selling Regime Proposals

Although the Financial Conduct Authority’s recent proposals for changes to the U.K. short selling regime do not materially alter the rules, targeted reforms designed to reduce the administrative burden placed on position holders will be welcomed by market participants, say lawyers at McDermott.