Commercial contracts work is at the heart of our practice and is core to everything we do. Our experience in providing general commercial advice is second to none. We advise our clients on a broad range of commercial agreements, including distribution and outsourcing arrangements.
Our work on distribution arrangements for insurers includes advising on bancassurance transactions, multi-tie distribution agreements and exclusive agreements, in the context of both M&A transactions and on stand-alone deals. We have also advised a number of clients on the potential restructuring of arrangements to satisfy the rule changes brought in by the Retail Distribution Review.
Our outsourcing work involves the expertise of our strategic sourcing practice, which has extensive experience in advising on different strategic sourcing structures including co-sourcing, multi-sourcing, offshoring and insourcing and that regularly advises on both new sourcing arrangements and on the re-evaluation and renegotiation of current outsourcing arrangements.
In combination with the regulatory knowledge of our insurance practitioners, we are able to offer clients an exceptional service in advising on sourcing arrangements in the insurance sector.
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 in connection with the termination of its long-standing bancassurance joint ventures with RBS and entry into a new distribution arrangement with the same party for the sale of Aviva’s protection and pensions products.
Aviva in relation to multiple harmonised long-term distribution arrangements between its UK Digital business and its various business units.
Aviva on the outsourcing by its UK life business, Aviva Life, of the administration of almost three million of its life and pension policies to Swiss Re.
FWD Group on a bancassurance with Sian Commercial Bank (SCB) for the distribution of FWD’s life insurance products to SCB’s customers in Thailand. The arrangement was entered into in connection with FWD’s acquisition from SCB and SCB Life Assurance.
FWD Life Insurance on its bancassurance collaboration with TMB Bank in Thailand for an initial term of 15 years.
a leading personal lines carrier on the review of over one hundred of its TOBAs and other distribution agreements and related arrangements.
Legal & General on distribution agreements with Nationwide to sell its products via the internet and through its branch network as part of Legal & General’s acquisition of Nationwide Life and Nationwide Unit Trust Managers.
Standard Life Aberdeen in relation to its long term strategic arrangements with Phoenix Group for distribution and client proposition development across multiple business segments.