Latest Uk Headlines
All the headlines from our Uk Topic Page, ordered by recency.
Best’s UK Non-Life Report Highlights ‘Challenging Market Conditions’
Sep 24 2013 // According to a new report from A.M. Best Co., the U.K. non-life insurance sector “faces mounting pressures, ranging from regulatory changes and competitive market conditions to an uncertain economic environment and...
UK Regulator Investigates 2 Life Insurers over Banned Sales Commissions
Sep 19 2013 // Britain’s financial regulator is investigating whether two life insurance companies breached new rules that ban the offering of commissions to financial advisers for selling their products. The Financial Conduct...
U.K. Crime Agency Won’t Name Insurers Using Illegal Sources
Sep 11 2013 // The U.K.’s Serious Organised Crime Agency refused to reveal the names of law firms and insurance companies that may have hired convicted private investigators who illegally gained information. SOCA declined to...
U.K. Probing 2 Banks Over Payment Protection Insurance Claims
Sep 10 2013 // The U.K.’s markets regulator is investigating allegations that banks are dismissing claims for payment protection insurance compensation. The Financial Conduct Authority has at least two separate probes in progress,...
AJ Gallagher to Acquire UK’s Giles Group of Companies
Sep 4 2013 // Arthur J. Gallagher & Co. announced that it has signed an agreement to acquire the Giles Group of Companies, headquartered in London, England. The transaction is subject to regulatory approval and is expected to close...
Lawsuit Against Sotheby’s Claims $218 Painting Is Actually a $16M Caravaggio
Aug 29 2013 // A painting bought by a British naval doctor for 140 pounds ($218) in 1962 may now be worth as much as 10 million pounds if his descendant can prove it’s a Caravaggio. The authenticity of “The Cardsharps”...
U.K. Banks to Pay $2 Billion for Card-Insurance Compensation
Aug 22 2013 // Britain’s biggest banks will pay as much as £1.3 billion ($2 billion) to compensate customers wrongly sold insurance to cover credit-card and identity theft. A group of 13 banks and credit-card issuers, including...
Ratings Recap: Electrical Contractors, Al-Sagr, Alliance (UAE)
Aug 16 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of UK-based Electrical Contractors’ Insurance...
Applied Systems Acquires Insurecom in U.K.
Aug 14 2013 // University Park, Ill.-based insurance software provider Applied Systems Inc. has acquired Insurecom, a software and connectivity solutions company focused on the insurance industry in the United Kingdom. Under the deal...
Allied World Europe in Strategic Agreement with UK’s Gravity Underwriting
Aug 14 2013 // Allied World Assurance Company Holdings, AG, which is based in Switzerland, announced that its subsidiary, Allied World Assurance Holdings (Ireland) Ltd, has entered into an agreement with Gravity Underwriting Limited for...
DriveFactor, Admiral Group to Offer Usage-Based Insurance Throughout UK
Jul 24 2013 // DriveFactor has partnered with Admiral Group plc to expand usage-based insurance (UBI) offerings throughout the U.K. Through this partnership, DriveFactor will power a version of Admiral’s Bell Safe Driver policy,...
Allstate Selling Life Business to London Group
Jul 18 2013 // Clive Cowdery, who earned a fortune cutting deals that consolidated the U.K. life insurance industry, is making a foray into the U.S. by buying a business from Allstate Corp. for $600 million (394 million...
Battery in Honeywell Locator May Have Caused 787 Fire: Source
Jul 16 2013 // Investigators are looking into whether a fire on a Boeing Dreamliner in London last week was caused by the battery of an emergency locator transmitter built by Honeywell International Inc, according to a source familiar...
Hartford to Sell U.K. Variable Annuity Business to Berkshire
Jun 27 2013 // Hartford Financial Services Group Inc. agreed to sell its U.K. variable-annuity business to Berkshire Hathaway Inc. for about $285 million in cash. Hartford Life International Ltd., which was sold to Berkshire’s...
Bermuda Premier Says Won’t Agree UK Territories Tax Deal before G8
Jun 13 2013 // Bermuda’s premier is not ready to sign an international transparency convention that he said Britain’s prime minister had planned to achieve ahead of the G8 summit in Northern Ireland next week, potentially...
Colleagues Are Overpaid, Say U.K. Financial Employees
Jun 6 2013 // Most U.K. financial-services employees say some within their companies are paid too much amid negative public sentiment toward the industry, according to a survey by the Chartered Institute of Personnel &...
Bermuda Minister Rejects Tax Haven Label; Sees Insurance Growth
Jun 4 2013 // Bermuda is not to blame for companies such as Google using Bermudan subsidiaries to shelter billions of dollars from U.S. and European tax authorities, the territory’s finance minister said on Monday. Google has come...
S&P Applies Revised Insurance Criteria to 22 Reinsurers and Subs
May 24 2013 // Standard & Poor’s Ratings Services announced that it has reviewed its ratings on 22 large global reinsurance groups by applying its new ratings criteria for insurers, which were published on May 7, 2013. (See...
Sidelined G7 Finance Chiefs to Discuss Financial Reforms
May 9 2013 // Some of the world’s most powerful finance chiefs will meet in an English stately home on Friday and Saturday to try to speed up banking and finance reforms, with Cyprus’ near meltdown fresh in their...
AJ Gallagher Acquires UK’s Property & Commercial Limited
May 2 2013 // Arthur J. Gallagher announced the acquisition of UK-based Property & Commercial Limited from Barbon Insurance Group. Terms of the transaction were not disclosed. “This insurance business provides retail and...
