We have been helping our clients to navigate the challenges of recent years in the insurance sector.
This has included the huge amount of regulatory change, the need to become more efficient (both from a regulatory capital perspective and to improve profitability), changes in distribution channels and therefore strategies, disposals of non-core businesses (most frequently) or acquisitions ultimately to increase efficiency through economies of scale.
We have also helped clients to transfer or take on risk, playing a leading role in the now thriving market for transfer of longevity risk and otherwise to improve regulatory capital positions.
Insurers are increasingly focusing on “digital” to grow customer numbers, enhance efficiencies and remain competitive.
Our global specialists in corporate insurance, M&A, litigation, restructuring and insolvency, capital markets, tax, employment, TMT and regulatory matters advise insurance companies, investment banks and other financial institutions in the sector.
To discuss legal issues with Linklaters’ global insurance team, please contact Victoria Sander, Wolfgang Krauel, Matthew Middleditch, Scott Sonnenblick or Duncan Barber.
Recent insurance transactions include advising:
- Amlin on the £3.48bn recommended cash offer by Mitsui Sumitomo Insurance Company Limited to acquire the entire issued share capital of Amlin
- Friends Life Group on the £5.6bn recommended takeover by Aviva
- AXA on the acquisition of a controlling interest in Nigerian-listed composite insurance company Mansard Insurance PLC
- Athene Holding on the acquisition of the Delta Lloyd Deutschland group
- RSA on the £403m sale of its Latin American business (Argentina, Brasil, Mexico, Chile, Colombia and Uruguay) to Suramericana, the insurance subsidiary of Grupo Sura
- Aioi Nissay Dowa Insurance Company (a subsidiary of MS&AD Insurance) on the purchase of 75.01% of Box Innovation Group Limited, the holding company of the ‘Insure The Box’ business PZU S.A., Poland and the CEE's largest insurance company, on the sale of their Lithuanian subsidiary UAB DK PZU Lietuva to Norwegian insurer, Gjensidige Forsikring ASA
- Friends Life (now part of Aviva) on its £2.4bn longevity swap with the trustees of the Scottish & Newcastle Pension Plan