Our insurance specialists provide a formidable blend of legal, regulatory and tax expertise in the insurance field. The group handles many of the largest and most innovative transactions in the sector and advises on the implications of many significant developments.
Our insurance partners are well-known to many of the officials at the PRA and FCA involved in the financial supervision and regulation of financial services in the UK.
We regularly advise on:
- bulk annuity transactions and the pensions buy-in and buy-out market
- capital markets
- closed fund transactions
- public and private mergers and acquisitions
- demutualisations and other restructurings
- distribution arrangements
- transactions involving the Lloyd's market
- product structuring
- financial regulation
The quality of our advice has been recognised by a number of awards including 'Legal Adviser of the Year' for our work advising Resolution on the acquisition of the AXA UK Life Business, as well as advising Global Infrastructure Partners in relation to the acquisition of London Gatwick Airport (The Financial Times and Mergermarket Group European M&A Awards, 2010). We are also ranked as the top law firm (jointly) for insurance in London and the UK (Chambers UK, 2016 and The UK Legal 500, 2015).
They are the go-to firm for the scary big stuff and are totally trusted by our general counsel and the executive team Chambers UK, 2015View all Financial Institutions media comments
Our key experience includes advising:
Allianz SE on 10-year bancassurance distribution agreements with HSBC for life insurance in Asia and life insurance and pensions products in Turkey.
An insurance client on the implications of the FCA’s proposed past business review and redress programme in respect of its thematic review of the sale of enhanced annuities.
Aviva on the de-risking of the Aviva Staff Pension Scheme by way of an innovative circa £5 billion longevity swap transaction involving insurance and reinsurance arrangements.
Brit, China Re, Direct Line and esure on their IPOs.
Delta Lloyd Levensverzekering on a longevity swap transaction with RGA in respect of underlying longevity reserves of approximately EUR12 billion.
Legal & General on the sale of its Mature Savings business to the ReAssure division of Swiss Re, involving assets under administration of approximately £30 billion.
ReAssure, part of the Swiss Re group, on the acquisition of the UK pensions business of HSBC Life (UK), including the associated insurance business transfer.
RSA Insurance Group on its issue of Floating Rate Perpetual Restricted Tier 1 Contingent Convertible Notes – the first public Solvency II compliant Restricted Tier 1 issuance by a UK insurer.
RSA Insurance Group on its disposal of £834 million of UK legacy liabilities to the Enstar Group.
Standard Life on its recommended all-share merger with Aberdeen Asset Management.
Our clients include:
- Allianz Cornhill
- Arch Capital Group
- Friends Life
- JS&P Holdings
- Legal & General
- MGM Assurance
- Marsh & McLennan
- MassMutual Financial Group
- Old Mutual
- Phoenix Group
- Standard Life
- Willis Group