News
Print Article

United Insurance Brokers Limited (UIBL) is charged with failure to prevent bribery.

06/05/2025

United Insurance Brokers Limited (UIBL), an insurance broker, is charged with failing to prevent associates from bribing state officials in Ecuador between October 2013 and March 2016.

The SFO alleges that UIBL’s US-based intermediaries for Ecuador paid bribes in return for awarding re-insurance contracts worth US$38 million.

If this case proceeds to a contested trial, it will be the first time a jury hears that an SFO “failure to prevent bribery” case.

UIBL offered re-insurance services which insure against any losses caused by making significant and unexpected payouts for insurance policies.

This was sold to state insurers covering parts of the Ecuadorian public sector, including the state water and electricity companies. 

UIBL received a US$6.2 million commission to provide these services, of which US$3 million was allegedly paid to intermediaries.

The intermediaries are accused of subsequently paying bribes to an Ecuadorian official in exchange for the contracts.

Nick Ephgrave QPM, Director of the Serious Fraud Office, said:

  • The SFO remains committed to stamping out international bribery wherever it may occur.
  • British companies have a duty to prevent the harm caused by bribery when doing business at home and abroad, to ensure that the UK remains a safe and fair place to do business.

The company's representatives will appear before Westminster Magistrates’ Court on Wednesday, 7 May, to face the charges.

Source

https://www.gov.uk/government/news/uk-insurer-charged-with-bribery-in-ecuador

https://www.gov.uk/sfo-cases/united-insurance-brokers-limited

UNITED KINGDOM FRAUD CORRUPTION

The Team

Meet the team of industry experts behind Comsure

Find out more

Latest News

Keep up to date with the very latest news from Comsure

Find out more

Gallery

View our latest imagery from our news and work

Find out more

Contact

Think we can help you and your business? Chat to us today

Get In Touch

News Disclaimer

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.