In the last five years, there have
been many development in the life industry, not least, significant
regulatory changes and an increase in the proportion of business
ceded to reinsurers. Changes in the investment market and public
perception of traditional investment products have also added to
the complexity of the business, resulting in greater focus on
reinsurance contract wordings and claims handling.
Our life team is drawn from our
market-leading insurance and reinsurance and corporate
insurance teams. We provide comprehensive legal advice and support
to life offices, and other insurers and reinsurers who participate
in life, health, and accident business.
Our experience includes advising
on:
Product
development
- new products and policy wordings;
- ART, financial, and other reinsurance policy wordings; and
- structure and sale of reinsurance products.
Regulatory
- regulatory requirements (e.g. in business conduct, solvency,
and compliance);
- governance of 'with profits' funds and FSA policy-holder
protection mechanisms; and
- contact with FSA on regulatory matters including strategic
advice.
Corporate
- business reorganisations, acquisitions and disposals;
- securitisations and demutualisations;
- insurance business transfers;
- attribution of inherited estates; and
- reinsurance to support MBOs of insurance businesses and new
financial services products needing life cover.
Pensions
- occupational pension schemes, particularly final salary
schemes; and
- pension products by long-term insurers.
Dispute
resolution
- interpretation of policy wordings;
- general commercial and reinsurance disputes relating to life,
accident and health products, carve-out business, and the PA
Spiral; and
- contentious regulatory disputes including FSA investigations,
enquiries, and enforcement actions.
We also provide training to our
clients on relevant topics through seminars, workshops, and
publications.
Meet our people
For information on members of this team and partners in our affiliated undertakings who work in this area, please click on the link below.
Publications
Read some of our recent articles, client newsletters and other publications.