Tariffs introduced by the US government are expected to dent global insurance premium growth, with both life and non-life forecast to slow sharply in 2025, according to Swiss Re Institute’s latest sigma report.

The Financial Conduct Authority has fined Monzo Bank Ltd over £21m for inadequate anti-financial crime systems and controls between October 2018 and August 2020. The bank also repeatedly breached a requirement preventing it from opening accounts for high-risk customers between August 2020 and June 2022.

The FCA has confirmed that bullying and harassment will qualify as misconduct across a wider section of financial services. The watchdog has issued draft guidance to help firms assess non-financial misconduct when determining whether an individual is fit and proper to work in financial services. This includes behaviour in personal life.

Threat analysis published this week by Watchguard points to a 171% rise in unique malware detections – the steepest increase recorded by the firm to date, underscoring a shift toward evasive tactics that are bypassing conventional security systems.

Barnett Waddingham has acquired specialist advisory firm Risk Evolves, bolstering its risk and resilience offering across cyber security, data privacy, ESG and compliance.

Insurance professionals have expressed significant opposition to the Financial Conduct Authority’s proposal to remove the requirement for those working in the profession to undertake a minimum of 15 hours training and development per year.