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.
Aviva, Prudential and Standard Life on their Brexit planning including insurance business transfer schemes under Part VII of FSMA.
Brit, China Re, Direct Line and esure on their IPOs.
Delta Lloyd Levensverzekering on a longevity swap transaction with Reinsurance Group of America in respect of underlying longevity reserves of approximately EUR12 billion.
esure in connection with the £1.2 billion takeover offer made by Blue (BC) Bidco Limited, a wholly-owned subsidiary of funds advised by Bain Capital Private Equity, LP and its affiliates.
Legal & General on the derisking of The Pearson Pension Plan by way of a circa £600 million buy-in transaction.
Prudential on the proposed demerger of its UK & Europe business (M&G Prudential) from Prudential plc, resulting in two separately-listed companies
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.
Quartz group on the minority investment into the group by private equity house Inflexion Private Equity Partners. Quartz is an insurance group which specialises in the underwriting and distribution of non-standard insurance products
Standard Life on the sale of its capital-intensive insurance business to Phoenix group for a total consideration of £3.24 billion.
Zurich Insurance on the proposed transfer of its pre-2007 UK legacy employers’ liability portfolio to Catalina London Limited.
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