Insurance industry bosses push back at perceptions of ‘profiteering’ June 7, 2023 Insurance industry representatives have pushed back at perceptions that firms are “profiteering” during the cost of living crisis. Bosses appeared before MPs sitting on the Treasury Committee to answer questions about rising premiums. Labour MP Dame Angela Eagle put it to the insurance industry representatives: “There’s a perception out there that insurers are profiteering with [...]
Why the FCA and City lawyers could be poised for a Square Mile showdown June 6, 2023 Lawyers have warned of a looming clash between City regulators and legal professions after the watchdog’s new enforcement chief fired barbs at the sector’s conduct while defending financial firms.
What’s going on with PwC’s tax leak scandal? May 30, 2023 Big four accounting firm PwC has come under intense scrutiny in recent weeks over its Australian business, which has been caught up in a scandal over the misuse of information gained from a government contract. PwC Australia came under fire after the country’s parliament published emails showing that the firm used information it obtained while [...]
Former Pru CEO and board veteran Jonathan Bloomer to become chair of Hiscox May 30, 2023 Jonathan Bloomer, the current chair of Morgan Stanley International and law firm DWF, will add the top boardroom chair at Hiscox to his portfolio next month. Hiscox, the Bermuda-headquartered insurance giant, announced Bloomer’s appointment as chair designate this morning. He will replace Robert Childs, who will retire over the summer. Bloomer was a partner at [...]
Aviva shares fall despite private health boom boosting insurance giant May 24, 2023 Shares in Aviva fell even after it recorded a strong start to the year, with sales rising eleven per cent thanks to a boom in private healthcare. Private healthcare sales grew by a quarter to £33m as more customers were attracted to “the benefits of private cover,” perhaps boosted by Brits looking for alternatives to [...]
UK law firm mergers rose last year as ‘growing by acquisition’ becomes more attractive May 22, 2023 New data reveals the number of law firm mergers in the UK has risen by nearly a quarter in the past year – from 99 in 2021 to 122 in 2022. New research from accountancy firm Hazlewoods shows merger and acquisition (M&A) activity in the sector has rebounded following a pandemic slump. According to Hazlewoods, [...]
Allen & Overy and Shearman & Sterling merger to forge £2.7bn law firm May 22, 2023 Law firms Allen & Overy and Shearman & Sterling announced plans to merge late last night, in a move which would create a firm with approximately $3.4bn (£2.7bn) in combined revenues. The tie up marks one of the biggest legal mergers in recent history, forging a firm with 3,900 lawyers across 49 offices around the [...]
Number of Russians using London Commercial Court reaches new record despite sanctions May 4, 2023 A record number of Russian litigants have used the London Commercial Court in the past year despite sanctions imposed in the wake of the war in Ukraine, new research has revealed. The number of Russian litigants appearing in the Commercial Court, part of the Business and Property Courts of the High Court, rose by 41 [...]
‘Bomb like’ devices planted in England’s legal heartland amid £1m court wrangle with a top lawyer April 24, 2023 Two bomb-like devices were planted in England’s legal heartland as part of a grudge campaign against a senior lawyer involved in a £1 million legal wrangle, a court has heard. Andrew Sutcliffe KC was targeted at his chambers in Gray’s Inn in central London as part of a plot to cause him and another lawyer [...]
Russian tycoon’s ex criticised by London judge for ‘costly and destructive’ divorce fight with £9m bill April 5, 2023 A wealthy Russian businesswoman’s ex-husband has come under fire from a London judge who oversaw a “costly and destructive” divorce fight. Sir Jonathan Cohen said Alla Rakshina, 42, and ex-husband Lazaros Xanthopoulos, 43, ran up lawyers’ bills of nearly £9 million as disputes over jurisdiction, money and children featured in more than 60 hearings in [...]