Anticorruption: UK Picks up the Baton in Ecuador

Posted 4/18/25

The U.K. Serious Fraud Office (SFO) has charged United Insurance Brokers Limited (UIBL) with failing to prevent bribery by its associates in a case involving multimillion-dollar reinsurance contracts in Ecuador.

UIBL, a London-based reinsurance firm, is accused of allowing U.S.-based intermediaries to bribe Ecuadorean officials between October 2013 and March 2016 in exchange for awarding contracts valued at approximately $38 million. The contracts were issued by state-owned insurers covering Ecuador’s public sector infrastructure, including water and electricity companies.

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