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.