Clifford Chance

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We are a trusted advisor to the world's leading insurers and reinsurers on complex transactions, disputes, financing, regulatory and commercial matters. Our international team of over 200 fee-earners offers first class domestic and cross-border advice across the world’s main financial centres and the emerging markets.

We are a recognised leader in the global insurance sector. We support our clients across the full range of their legal needs including: M&A and joint ventures, establishing new operations, restructuring and run-off, financial services regulation and enforcement, development of complex insurance products, raising capital, reinsurance and alternative risk transfer, distribution, major insurance/reinsurance disputes, outsourcing and other commercial contracts.

Through our extensive network of offices in Europe, the Americas, Asia Pacific, the Middle East and Africa, we can offer an unparalleled ability to assist insurance companies throughout their global operations and on their international expansion plans.

In addition, our multi-disciplinary team includes sector experts from across our corporate and M&A, regulatory, banking & finance, capital markets, dispute resolution, antitrust, tax, real estate, IT/IP pensions and employment teams.

Reputation for acting on ground-breaking, first of a kind mandates

As a leading practice we work at the forefront of the market advising clients on the latest developments and issues facing the sector including:

  • Global systemically important insurers (G-SIIs)  classification and resolution planning
  • Corporate governance and risk management
  • Global and local market regulatory enforcement including Section 166 investigations in the UK
  • Distribution of insurance products and related regulatory issues including the Retail Distribution Review (RDR) and the Insurance Mediation Directive (IMD2)
  • Alternative risk transfer arrangements including Insurance Linked Securities (ILS), Value-in-Force transactions and derivatives
  • Collateralised reinsurance
  • Alternative investment strategies including infrastructure
  • Longevity risk transfer
  • Global insurance programmes

Trusted advisor to the world’s leading insurance and reinsurance companies

We advise clients from across the global life, general and reinsurance markets including Allianz, Assicurazioni Generali, AXA, Chubb, Legal & General, Willis Towers Watson, MetLife, Munich Re, Swiss Re, Tokio Marine and XL Catlin. We also advise insurance brokers, London Market participants, Bermudan based insurers, mutuals, run-off specialists and banks as counterparties to insurers.

Client experience

  • LV= on its joint venture with Allianz, creating the UK’s third largest personal insurer with over £1.7 billion annual premium income. The transaction valued the LV= general insurance business at £1.02 billion
  • Transaction counsel on the formation and capital raise of alternative capital and total return vehicles including Watford Re Ltd. (initial capital raise of US$1.1 billion), Harrington Re Ltd. (initial capital raise of US$600 million), KaylaRe Ltd. (initial capital raise of US$620 million), Premia Reinsurance Ltd. (initial capital raise of US$510 million), and Fidelis Insurance Holdings Limited (initial capital raise of US$1.5 billion)
  • Chubb Group on the integration of its key operating companies in Europe, following the merger of the ACE and Chubb groups, by way of portfolio transfers in the UK and Ireland and a cross border merger
  • AXA on the acquisition of Genworth Group for a total consideration of €475 million
  • EastWest Bank on establishing a life insurance joint venture with Ageas in the Philippines and exclusive bancassurance arrangement between EastWest Bank and the joint venture company
  • Deutsche Bank on the sale of its life insurance subsidiary Abbey Life Assurance Company to Phoenix Life Holdings Limited
  • CMI on its acquisition of Sirius International Group, Ltd., a wholly owned subsidiary of White Mountains Insurance Group, Ltd.
  • Just Retirement Group on its recommended £1.7 billion all-share merger with Partnership Assurance Group to create JRP Group
  • HSBC on its sale of a 32.5% stake in SABB Takaful Company (a listed Saudi insurance provider) to the Saudi British Bank
  • Gras Savoye (Willis Towers Watson group) on the acquisition of the aviation insurance business from OAAGC
  • Several (re)insurers on Brexit related restructurings and relocations