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31 March 2026Publication
PRA fines UK insurer £10.6m: early account case UK
PRA fined UK Insurance £10.625m for Solvency II reporting failures, marking the first use of the Early Account Scheme and highlighting governance and resourcing
We act for London market insurers, specialist Lloyds syndicates, professional firms and financial institutions – who trust us with their high-profile, high-stakes issues.
On the contentious side we focus on professional liability, financial markets, directors and officers’ claims, product liability and recall, construction and engineering, reinsurance and large property losses. Cyber is an increasingly important element of our work.
The non-contentious side of the practice advises insurers and their counterparties on corporate transactions, regulatory and compliance issues (including Solvency II, SMCR and GDPR), structural and capital transactions and insurance-linked securities and derivatives.
Everyone in our hand-picked team is steeped in the market. All our associates and some of our partners have been on secondment in the industry for at least a year. This gives us direct experience of the kind of legal and practical challenges you face – whether as an insurer, an intermediary or a service provider.
We’re not trying to be all things to all people – we are specialists, which means the quality of our work is second to none.
Advising insurance and non-insurance entities on the impact of Solvency II on their business (including their non-European operations).
Public recognition for our innovative work in connection with the correct treatment of professional indemnity insurance policy exclusions under the Alternative Investment Fund Managers Directive (AIFMD).
Advising Beazley on its new cyber risk policies and claims management in London and Paris.
If you have any questions, contact a member of the Insurance team for assistance:
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31 March 2026Publication
PRA fined UK Insurance £10.625m for Solvency II reporting failures, marking the first use of the Early Account Scheme and highlighting governance and resourcing
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Join our series for insights and industry voices on the fast-paced PRT (BPA/de-risking) market. Subscribe for updates as new episodes go live.

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An overview of the UK regulatory landscape for the autonomous vehicles industry.

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Court judgments in 2025 on Covid-19 BI policy coverage points looked in particular at policy triggers, aggregation and the treatment of furlough payments