Thomas Peacock

Senior Counsel

Tom is Senior Counsel in our Corporate Group and Insurance practice. He has a broad range of experience advising on a variety of corporate and commercial transactions, with a particular focus on the insurance sector (both general and life), including M&A, corporate reorganisations, insurance and reinsurance arrangements, de-risking transactions, insurance regulation (including Solvency II) and general corporate advice.

Tom is recognised as a ‘Rising Star’ in the ‘Insurance: Corporate and Regulatory’ section of Legal 500.

His recent work includes advising:

  • Intact and RSA Group on the £6.5 billion derisking of RSA’s two main defined benefit pension schemes with PIC
  • Tata Steel on derisking transactions totalling £7.5 billion entered into by the British Steel Pension Scheme with Legal & General
  • Aviva on various matters, including:
    • the acquisition of AIG Life Limited from Corebridge Financial, Inc., a quoted subsidiary of American International Group, Inc., for consideration of £460 million.
    • the legal and regulatory implications of COVID-19 for its business interruption policies, including the impact of the FCA Test Case
    • the de-risking of the Aviva Staff Pension Scheme, and subsequently the RAC scheme, by way of a longevity swap involving insurance and reinsurance arrangements
  • DLUHC on the self-remediation terms to be entered into by major residential property developers and DLUHC
  • Legal & General on various matters including:
    • a number of derisking transactions, including a c.£310 million buy-in with Reuters Supplementary Pension Scheme and various longevity and funded reinsurance transactions
    • the sale of its mature savings business to Swiss Re for £650 million
  • Pollen Street Capital and its portfolio company Markerstudy on various transactions in the general insurance sector, including the acquisitions of BGL Insurance, the Lloyd’s broker Clegg Gifford & Co and the regulated insurer Tradex, together with connected corporate reorganisations and regulatory engagement
  • Prudential on the demerger of its UK & Europe business (M&G Prudential), resulting in two separately-listed companies, and subsequent considerations in respect of its group structure
  • Allianz on aspects of its acquisition of Legal & General Insurance Limited, the general insurance business of Legal & General Group
  • Insurers, trustees and corporates on various other de-risking matters, including Whitbread plc on the £680 million derisking of the Whitbread Group Pension Fund with Standard Life, part of Phoenix Group

Tom has spent time on secondment with Legal & General, where he supported the derisking business.

‘Tom Peacock is a rising star in the corporate practice. Tom is dedicated, dependable, smart, commercially minded and a pleasure to work with. He really listens to what the client needs and the style they prefer to adopt, adapting his work products accordingly.’  Legal 500 2024