The insurance industry has faced major challenges in recent years. This has included changes in market conditions such as the low interest environment, a 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.
Recent insurance transactions:
- Old Mutual Plc and Old Mutual Limited on the £12bn managed separation of the Old Mutual Group into four independent businesses
- Rothesay Life on the sale of a £12bn book of UK annuities from Prudential
- The Trustee of the MMC UK Pension Fund, hedging £3.4 billion worth of liabilities for around 7,500 pensioner members. The deal is reinsured with two reinsurers
- DBS on its non-life bancassurance agreement with Chubb Insurance in five jurisdictions across Asia – Singapore, Hong Kong, Taiwan, Indonesia and China
- Standard Life plc on the sale of its Hong Kong life insurance business, Standard Life Asia, to Heng An Standard Life
- Generali Group on the EUR 540m+ sale of its stake in Generali Belgium SA to Athora Holding
- AXA on the €191m sale of its Portuguese business to Ageas Insurance International N.V
- AXA on the sale of Pro bAV Pensionskasse AG to Frankfurter Leben-Gruppe
- Athora Holding Ltd on the purchase of Aegon Ireland
Rankings and awards
Tier 1 Firm for Insurance: Non-contentious Chambers UK, 2018
Tier 1 Firm for Insurance: Corporate and Regulatory Legal500, 2017