Thomas Peacock

Senior Counsel

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

His work includes advising:

  • Aviva in relation to the legal and regulatory implications of COVID-19 for its business interruption policies, including the impact of the FCA Test Case
  • Markerstudy (a portfolio company of Pollen Street Capital) on various transactions, including its acquisitions of BGL Insurance and Clegg Gifford & Co
  • Prudential plc on the demerger of its UK & Europe business (M&G Prudential), resulting in two separately-listed companies
  • Allianz on aspects of its acquisition of Legal & General Insurance Limited, the general insurance business of Legal & General Group
  • Legal & General on aspects of the sale of its mature savings business to Swiss Re for £650 million
  • esure Group plc on its £1.2bn takeover by a subsidiary of funds advised by Bain Capital Private Equity, LP and its affiliates by way of scheme of arrangement
  • Hong Kong Exchanges and Clearing Limited on its £29.6 billion possible offer for London Stock Exchange Group plc
  • insurers, trustees and corporates on de-risking matters, including:
    • Legal & General on a number of derisking and reinsurance transactions, including on a c.£310m buy-in with Reuters Supplementary Pension Scheme
    • a major corporate on strategic issues relating to its pensions scheme including on a substantial partial buy-in using an umbrella framework agreement
    • a major insurance group on longevity and asset swaps structured on a limited recourse basis involving members of the Pacific Life group
    • Aviva on 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.

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