Slaughter and May advised RSA Insurance Group on its disposal of £834 million of UK Legacy liabilities to the Enstar Group (‘Enstar’). The transaction takes the form of a reinsurance arrangement, to be effective based on a risk transfer date of 31 December 2016, to be followed by a subsequent legal transfer of the business.
The Slaughter and May team, led by partners Robert Chaplin and Nick Bonsall, advised RSA Insurance Group alongside its in-house team led by Charlotte Heiss, Group Chief Legal Officer, and Jon Cope, Head of Legal, UK and International. Enstar was advised by Norton Rose.
RSA Insurance is a multinational general insurance company headquartered in London. Enstar Group Limited acquires and manages insurance and reinsurance companies in run-off and provide management, consulting and other services to the global insurance and reinsurance industry.