Our recent deal experience in the sector details of which we are able to disclose includes advising:
- a major international insurer on the issue of fixed to floating rate subordinated notes due 2040. These notes meet the existing Solvency I regulatory requirements for dated subordinated notes and also anticipate the future Solvency II requirements for Tier 2 capital treatment of insurance companies;
- Lloyds Banking Group on the sale of its majority stake in the esure insurance group;
- on the creation of Amlin France by way of combining Anglo French Underwriters and the French branch of ACI (formerly Fortis Corporate Insurance) - this follows on from our advising Amlin plc on the acquisition of Anglo French Underwriters in 2008 and of Fortis Corporate Insurance in 2009; and
- Eureko and Kappa (selling shareholders) in connection with an initial public offering of shares in PZU SA, the biggest insurance company in Poland and the CEE region.
