On April 17, 2025, the UK Serious Fraud Office announced that UK-based United Insurance Brokers Limited (“UIBL”) was charged for failing to prevent international bribery. According to the SFO, between October 2013 and March 2016, the company failed to prevent intermediaries based in the United States from paying bribes to state officials in Ecuador to secure $38 million worth of re-insurance contracts. The re-insurance contracts allegedly covered Ecuador’s public sector, including state water and electric companies, to insure against losses caused by significant and unexpected insurance policy payouts. UIBL allegedly received a $6.2 million commission for their services, $3 million of which was paid to intermediaries who made corrupt payments to an Ecuadorian official in exchange for the contract.
According to the SFO, if the case proceeds to trial, it will be the SFO’s first “failure to prevent bribery” case heard by a jury. UIBL representatives are currently scheduled to face these charges in the Westminster Magistrates’ Court on May 7, 2025.
UK Government Press Release | SFO Case Summary