Lorna Tennent

Corporate Partner, London

"I have extensive experience advising on complex transactions in the insurance sector. My practice covers all aspects of corporate insurance including public and private M&A, reinsurance, pension scheme de-risking and insurance regulation. My broad technical knowledge enables me to deliver high quality and commercially orientated advice."

Overview

Education and qualifications

Overview

Lorna advises insurers and other clients in all types of corporate transactions within the insurance sector, including public and private M&A, reinsurances, distribution arrangements and pension scheme de-risking buy-in and buy-out transactions. Lorna also advises on insurance regulation including the impact of the Solvency II Directive and the UK leaving the EU.

Based in London, Lorna has also spent six months seconded in the firm’s Tokyo office.

Work highlights

Lorna has advised on a number of significant transactions in the insurance sector. Recent experience includes acting for: 

  • Utmost Life on the transfer of Equitable’s UK life and pensions business, including unitisation of the transferring with-profits business
  • Rothesay Life plc on the reinsurance and acquisition of £12billion of non-profit annuities from Prudential Assurance Company Limited and on the buy-out of an international investment bank
  • AXA on the sale of AXA Life Europe to Cinven 
  • the M&S Pension Scheme trustee on two buy-in contracts totalling £1.4bn of liabilities
  • Athora on the acquisition of Aegon Ireland
  • Swiss Re’s ReAssure business on its acquisition of Guardian Assurance from Cinven and management of Guardian Assurance
  • the trustee of the Rentokil Initial Pension Fund on a bulk annuity policy with Pension Insurance Corporation
  • the trustee of the Rolls Royce UK Pension Fund on its £4.6bn buy-in contract 
 

Education and qualifications

Lorna received a B.A. (law) and LL.M from Peterhouse, University of Cambridge.