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Insurance UK
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June 19, 2025
Allianz To Ax 650 UK Insurance Jobs Amid Decline In Claims
Allianz confirmed on Thursday that it would be cutting 650 jobs across its U.K.-based insurance businesses because of what it called changing customer behavior and fewer claims.
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June 19, 2025
Clear Group Expands UK Reach With Insurance Broker Buy
Insurance broker Clear Group said Thursday that it has acquired CR Toogood & Co. Ltd., a commercial insurance broker based in the southeast of England, as the group strengthens its footprint in the region.
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June 19, 2025
AmTrust Wins Disclosure Appeal In £56M Claim-Funding Clash
A London appeals court said Thursday that AmTrust should be able to see another insurer's communications with two law firms amid a £56 million ($75 million) battle over who should cover the costs of a failed litigation-funding scheme.
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June 19, 2025
Private Schools Face Tough Choices On Teachers' Pensions
Independent schools in the U.K. should weigh whether the "generous" benefits of the Teachers' Pension Scheme risk redundancies and pay cuts, a financial consultancy warned on Thursday.
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June 19, 2025
Trend Toward 'Mega-Insurers' Pushing Premiums Down
Insurers are likely to continue to cut motor insurance premium rates out of fear of losing market share to new "mega-insurers," according to a report published Thursday.
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June 19, 2025
Pension Trustees Told To Act Now On Incoming Reforms
Pension plan trustees should act now to ensure they are prepared for recently announced reforms that will "fundamentally reshape" the market, according to Britain's retirement savings watchdog.
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June 19, 2025
Finance Advisory Biz Openwork Buys Partner Firm
The Openwork Partnership, a U.K. financial advice network, said Thursday it has completed a transaction to acquire partner firm Milecross Financial Solutions Ltd. as part of its expansion plan.
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June 18, 2025
Colo. Judge Trims REIT's Antitrust MDL Coverage Dispute
A Colorado federal court trimmed a real estate investment trust's suit seeking coverage for antitrust multidistrict litigation, saying the trust's statutory bad faith claim under Colorado law could not proceed because of a New York choice-of-law provision in its primary policy.
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June 18, 2025
SFO's Growth Push A 'Difficult Line To Tread' For Prosecutor
The Serious Fraud Office's recent promise to assist UK PLC with growth has raised eyebrows among former officials who question the optics of adopting political talking points that, on the surface, appear to distract from investigating and prosecuting economic crime.
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June 18, 2025
EU Firms Warn UK Gov't Not To Ban Ransomware Payments
A European financial markets trade body on Wednesday warned the U.K.'s Home Office that its proposed ban on paying ransomware demands to criminals could destabilize financial markets and lead to cross-border confusion.
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June 18, 2025
Howden Expands In Latin America With Chilean Broker Buy
International insurance broker The Howden Group has acquired Chile-based rival Ureta & Fernandez Corredores de Seguros Ltd. to strengthen its existing position in the South American market.
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June 18, 2025
BoE Backs Innovation To Boost Financial Sector Resilience
The Bank of England said Wednesday that its regulatory arm will support innovation to help companies become more resilient.
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June 18, 2025
CPP Sells Turkish Unit For £4.6M To Focus On Tech Platform
CPP Group, an insurance products business, said Wednesday that a German company has agreed to buy its Turkish firm for £4.6 million ($6.2 million) cash, as it looks to focus on Blink, its insurance technology website.
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June 18, 2025
Lloyd's Insurers Monitoring Iran-Israel Impact On Shipping
The London insurance market said Wednesday it will hold firm for now on marine cover for vessels operating in the Middle East, despite the ongoing conflict between Iran and Israel.
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June 18, 2025
Over 1M Gig Workers 'Can't Afford' To Save For A Pension
More than a million "gig" workers in the U.K. cannot afford to save into a pension, a retirement savings company has said, amid growing fears that younger and more precarious workers will not have adequate savings in later life.
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June 18, 2025
Insurer Cowbell Appoints Director Amid Cyber-Market Surge
U.S. cyber-insurance company Cowbell has appointed Kirsten Maley for the new job of director of claims in Britain, noting increased online attacks against companies and a rising demand for robust measures.
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June 17, 2025
Gov't Urged To Fix Civil Service Pension Failures
The government has not effectively held to account the administrator of the £189 billion ($255 billion) Civil Service pension plan for failing to meet historic performance targets, Britain's public spending watchdog has said, urging policymakers to learn from the failures.
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June 17, 2025
EU Agrees Rules To Firm Up Cross-Border GDPR Enforcement
European Union co-legislators have agreed new legislation to improve cooperation between national authorities when they enforce data protection rules across borders.
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June 17, 2025
EU Insurers Fail In 'Mystery Shopper' Exercise
The European Union's insurance watchdog warned Tuesday that its first mystery shopping exercise across the bloc showed distributors of insurance-based investment products needed to provide better results for consumers.
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June 17, 2025
CMS Guides 'Landmark' £55M Pension Superfund Deal
Britain's only defined benefit superfund said Tuesday that it has taken on £55 million ($75 million) in assets from a plan sponsored by a Christian missionary society, in a deal steered by CMS Cameron McKenna Nabarro Olswang LLP.
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June 17, 2025
Aviva Gets Green Light For £3.7B Direct Line Acquisition
Aviva said Tuesday that it has passed all the regulatory hurdles for its £3.7 billion ($5 billion) cash and stock acquisition of rival insurer Direct Line, bringing it one step closer to creating a motor and home insurance giant in Britain.
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June 17, 2025
Birketts Steers BP Marsh Investment In Underwriting Agency
B.P. Marsh & Partners PLC said Tuesday it has acquired a 27% interest in underwriter Cameron Specialty, as the private equity investor adds to its portfolio of insurance intermediaries.
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June 16, 2025
Pension Bill Could Unlock £600B Market For Superfunds
Reforms floated by the government to the U.K.'s nascent superfund regime could widen access to the new type of consolidation vehicle to around half of all defined benefit schemes, representing around £600 billion ($816 billion) of assets, a consultancy said Monday.
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June 16, 2025
Just Group Secures £7M Pension Deal For Insolvent Builder
Just Group PLC said Monday that it has taken on £7 million ($9.5 million) of pension scheme liabilities of insolvent construction company The McGregor Construction (Highlands) Ltd. Pension Plan in a deal guided by CMS.
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June 16, 2025
Credit Suisse Life Fights $607M Liability To Ex-Georgian PM
The Bermudan life insurance arm of Credit Suisse challenged court findings Monday that it owes $607 million in damages to the former prime minister of Georgia, saying his losses were due to fraudulent activity by an employee of its banking arm.
Expert Analysis
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What To Know About The Russia-Stranded Plane Ruling
The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.
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3 Notable Pensions Reforms In Spring Budget
The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.
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UK Arbitration Ruling Offers Tips On Quelling Bias Concerns
An English court's recent decision in H1 v. W to remove an arbitrator because of impartiality concerns offers several lessons on mitigating bias, including striking a balance between arbitration experience and knowledge of a particular industry, and highlights the importance of careful arbitrator appointment, says Paul-Raphael Shehadeh at Duane Morris.
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Bias Ruling Offers Guidance On Disqualifying Arbitrators
An English court's recent decision in H1 v. W, removing an arbitrator due to bias concerns, reaffirms practical considerations when assessing an arbitrator's impartiality, and highlights how ill-chosen language by an arbitrator can clear the high bar for disqualification, say Andrew Connelly and Ian Meredith at K&L Gates.
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Insurance Policy Takeaways From UK Lockdown Loss Ruling
An English court's recent decision in Unipolsai v. Covea, determining that insurers' losses from COVID-19 lockdowns were covered by reinsurance, highlights key issues on insurance policy wordings, including how to define a "catastrophe" in the context of the pandemic, says Daniel Healy at Brown Rudnick.
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What COVID Payout Ruling Means For Lockdown Loss Claims
While the High Court's recent COVID-19 payout decision in Gatwick v. Liberty Mutual, holding that pandemic-related regulations trigger prevention of access clauses, will likely lead to insurers accepting more business interruption claims, there are still evidentiary challenges and issues regarding policy limits and furlough, say Josianne El Antoury and Greg Lascelles at Covington.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases
The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.
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Unpacking The Building Safety Act's Industry Overhaul
Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.
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A Rare Look At Judicial Interpretation Of LEG Exclusions
A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
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Ruling In FCA Case Offers Tips On Flexible Work Requests
In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.
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Breaking Down The New UK Pension Funding Regs
Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.
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Decoding UK Case Law On Anti-Suit Injunctions
The English High Court's forthcoming decision on an anti-suit injunction filed in Augusta Energy v. Top Oil last month will provide useful guidance on application grounds for practitioners, but, pending that ruling, other recent decisions offer key considerations when making or resisting claims when there is an exclusive jurisdiction clause in the contract, says Abigail Healey at Quillon Law.
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Cayman Islands Off AML Risk Lists, Signaling Robust Controls
As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.
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How Decision On A Key Definition Affects SMEs
The Financial Conduct Authority's decision not to extend the definition of small and midsized enterprises may benefit banks and finance providers in the current high interest rate environment and where SMEs in certain sectors may be under financial pressure in light of the cost-of-living crisis in order to streamline it, says Rachael Healey at RPC.