Insurance restructuring & insolvency

Our Insurance Restructuring and Insolvency Group offers you specialist, industry-specific advice.

It is part of a strong international restructuring practice with practical experience of advising on a broad range of corporate restructuring, reorganisation and formal contentious and non-contentious insolvency work.

The team can advise you on all aspects of insurance and reinsurance company reconstruction and insolvency. It has particular expertise in: Schemes of Arrangement; security, protection against default and policyholders' protection; netting and set-off. We have extensive experience in all areas of run-off and restructuring, and have advised on many solvent schemes of arrangement, and on unitisation. 

We have advised on special situations including advising insurers in run-off on exit strategies; advised specialist investors in discontinued insurance businesses; and been involved in the appointment of insolvency officeholders in respect of troubled insurers and reinsurers.  We have experience drafting and implementing schemes of arrangement for solvent and insolvent insurance companies; advising in relation to complex multi-jurisdictional insolvency issues; advising in relation to underwriting pools and the impact of insolvency of pool managers and pool participants; drafting commutation and "loss deposit" agreements; advising on broker net accounting and set-off.

We have had many high profile mandates advising on the impact of counterparty insolvency, including on the impact of R&R and Equitas (including the recent Equitas Part VII FSMA Scheme), as well as constructing and advising on enforceable "cut through" and similar security arrangements (including ILU guarantees)  and advising on finance and security structures including the sale and collateralising of reinsurance receivables.