The Legal 500

Clifford Chance - a ‘very strong all-round practice’ - has immense transactional and regulatory experience in the insurance sector. It advised Aon Corporation on the acquisition of Benfield Group (deal value £844m), and 2008 also saw it attract new clients such as Qatar Financial Centre Authority and XL Services Switzerland. The team includes leading lights Hilary Evenett, who ‘performs well in crisis situations’, and Katherine Coates, who is ‘dominant’ in the life sector. Tim Page and Clare Swirski are noted as ‘problem solvers’, and clients are also appreciative of its ‘very good team of associates’.

Freshfields Bruckhaus Deringer LLP’s team has ‘very good technical knowledge’. Robert Stirling has a ‘very commercial and sensible approach’, and Philip Richards is an ‘extremely able tactician and negotiator’. James Smethurst is ‘technically very good’ on the regulatory side, and Simeon Rudin is ‘absolutely first rate’ for structured products. An enviable client list includes household names such as Barclays, Generali, HSBC, and Marsh & McLennan. Standout deals included advising the Pearl Group on its £4.9bn acquisition of Resolution, the FTSE 100 life insurer. Ian Poynton has moved back to London from Dubai.

Herbert Smith LLP’s team is ‘always responsive’ and includes the highly regarded Geoffrey Maddock, who is ‘very experienced and knows his onions’, and Adam Levitt, who is also recommended. The core corporate team is supported by tax practitioners with particular life tax experience. An impressive client base includes Pearl Group, Royal London, Zurich Financial Services, and Co-operative Financial Services. A busy year on the deal front saw it advise Canada Life International Re (a subsidiary of Great-West Lifeco) on its reinsurance of just over half of Standard Life’s annuity liabilities. On the regulatory side, it advised two UK general insurers on Upper Tier 2 regulatory capital raisings, including FSA prudential requirements.

Linklaters LLP is noted for its ‘commercial approach coupled with excellent technical and insurance industry knowledge’. Practice head Duncan Barber is widely respected, and is ‘technically excellent with a formidable intellect’, and Victoria Sander is also highly rated. Particularly adept at complex and large-scale work, areas of focus include bulk purchase annuity work, longevity risk transfer, and advising on insurance special purpose vehicles. The team advised a number of investment banks on longevity swap and contingent loan transactions with insurers, and also advised RBS on the potential disposal of its UK non-life insurance businesses.

Lovells LLP’s team, headed by John Young has ‘excellent technical knowledge’. Tim Goggin and Charles Rix are ‘easy to deal with’, Rachel Kent has ‘excellent transactional skills’, and David Sullivan is also highly rated. The firm advised LV on the proposed £150m acquisition of Highway Insurance Group, and Max Capital Group on its £11m acquisition of Imagine Group (UK). It has also been advising on areas such as the new codified directors’ duties, governance issues affecting life assurance companies, and issues relating to with-profits businesses.

Norton Rose LLP has a ‘very strong team’ with the ‘knowledgeable and experienced’ James Bateson at the helm. David Whear ‘leaves no stone unturned’ and is a Lloyd’s specialist, while Maria Ross and Ashley Prebble are ‘a pleasure to work with’. Martin Scott is ‘outstanding - he moves the deal forward’. The team advised Royal London on its £1.2bn acquisition of Phoenix Life and Scottish Provident’s new business capabilities from Pearl, and acted for AIG on a raft of issues arising from the restructuring of the group, including the sale of HSB to Munich Re.

Slaughter and May has the ‘superb’ Glen James, who is especially strong on regulatory matters; the ‘very clever’ Nilufer von Bismarck; the ‘intellectually very capable’ Oliver Wareham; and the ‘technically excellent’ Lucy Wylde. It advised Aviva on the sale of the offshoring operations business owned by Aviva Global Services (Singapore) to WNS (Holdings), and has also been especially active in the risk transfer arena and in the pensions buy-in and buy-out market. Other clients of the wide-ranging practice include BUPA, Scottish Widows, Standard Life and Legal & General.

Allen & Overy LLP’s team is ‘pragmatic and practical in its guidance’. The ‘commercial’ Philip Jarvis heads the team, and ‘negotiates in a rigorous and reasonable manner’. Andrew Barton ‘hugely personable and knowledgeable’, and Stephen Mathews is also recommended. The practice combines capital markets and insurance expertise, recently advising RBS on an innovative longevity swap, involving RBS and Norwich Union/Partner Re, in which the risk of UK annuitants living longer has been transferred to the capital markets for the benefit of Norwich Union.

Ashurst LLP provides ‘an excellent service which can not be faulted’. Jonathan Drake ‘manages to combine a high technical capability with a strong commercial understanding’, and James Perry is ‘always available’. Highlights include advising various Bermudian groups on their entry into the London insurance market, and representing numerous clients, including Skandia Life and Pearl Group, on regulatory matters. It was also appointed to Aviva’s panel of City law firms.

Barlow Lyde & Gilbert LLP’s clients appreciate its ‘personalised service and prompt, clear and helpful advice’. Stephen Browning is very knowledgeable about the Lloyd’s market, and has an ‘astonishing ability to master complex financial structures’. Mike Munro and James Parker are ‘available to discuss emerging issues in very short timescales’. The firm advised London Market Claims Services Limited (an association of major global insurers) on the outsourcing of health hazard insurance claims handling and settlement. Clients include Canopius Group and Novae Group.

At Clyde & Co LLP, department head and ‘star’ Andrew Holderness has a strong reputation in the Lloyd’s market. A successful year saw the practice appointed to the non-claims legal panel of ACE European Group, and it maintains its place on other panels such as AXA’s global panel. It is becoming more active in the public company arena; one highlight was advising Heritage Underwriting Agency on the £141m recommended cash offer made by Argo Group International Holdings. Christopher Duffy is also recommended, and Andy Tromans has joined from Clifford Chance.

A busy year on the transactional front saw Dewey & LeBoeuf advise Aspen Insurance Holdings on the public offering prospectus and sale by Candover Investments of its stake of US$50m common shares in Aspen, while other clients include Brit Insurance Holdings, NFU Mutual and Torus Insurance. Head of department William Marcoux is recommended along with Nicholas Bugler and Joseph Ferraro.

Pinsent Masons LLP’s Martin Membery is ‘assiduous’ and ‘amazingly tuned in to what clients want’. Matthew Griffith is a ‘sensible and practical thinker’, and has been acting for Royal & SunAlliance on a number of strategic corporate transactions including the acquisition of Fyfe Group and its subsidiaries. Other clients include Allianz Insurance, Zurich Financial Services and Aviva. Bruno Geiringer has considerable experience on the life insurance side.

Reynolds Porter Chamberlain LLP’s advice is ‘spot on’; Dianne Vander Cruyssen is noted for her ‘friendly approach’ and has ‘recruited an impressive team’. Sanjay Pritam is ‘very knowledgeable’, while Jonathan Davies does a ‘great job’. The firm assisted the European subsidiary of a major Bermuda-based insurance and reinsurance group with its preparations for its FSA ARROW II visit.

CMS Cameron McKenna LLP was appointed to the Ace Insurance panel. MetLife was also a major new client in 2008, with the firm advising it on a range of issues relating to its expansion in the UK and Europe, including the development of a retirement portfolio insurance product. Head of department Paul Edmondson, along with Christopher Southorn and John Cadman, are the primary contact partners.

Debevoise & Plimpton LLP’s Jeremy Hill is a prominent figure in the London insurance market. It advised Benfield Group on its acquisition by Aon Corporation, and also acted for Catlin Group on its £200m rights issue, underwritten by JPMorgan and UBS.

Edwards Angell Palmer & Dodge UK LLP has a fine reputation for alternative risk transfer transactions. Richard Spiller (noted for his ‘attention to detail and responsiveness’) co-chairs the regulatory and transactional practice group, and Ambereen Salamat is another primary contact. It recently advised Munich Re on several large reinsurance contracts, while other clients include American Insurance Association and new client Montpelier Re.

Eversheds LLP’s Michael Wainwright is well respected in the market and was the lead solicitor advising on the closure of AIG Enhanced Fund, which entailed advising AIG Life on the emergency suspension of redemptions and the restructuring plan put forward by the company. American Express and AXA are also clients. Pamela Thompson is another key contact.

Holman Fenwick Willan LLP’s clients appreciate its ‘first-class service’. Practice head Nicholas Hutton’s ‘business acumen and ability to get the job done is unparalleled’; Paul Wordley is a ‘first-class lawyer’; and Kapil Dhir has an ‘excellent grasp of the important matters in the London insurance market’. The team is advising a major insurance group on a proposed acquisition of a Lloyd’s syndicate.

Addleshaw Goddard LLP’s Ivor Edwards has ‘extraordinary knowledge of the industry’, and is currently acting for a major life company on the disposal of a number of life portfolios. David Heffron is recommended on the regulatory/commercial side. Royal Liver Assurance Society, Simplyhealth, and Standard Life are clients.

Berwin Leighton Paisner LLP’s key partners are Pollyanna Deane and Nathan Willmott. Highlights included assisting AIG on an FSA investigation and enforcement action, and adding new clients such as Aon and QBE Insurance to its client base. BUPA is another major client.

Ince & Co maintains a solid client base in the insurance broking, syndicate management and insurance company sectors, and recently advised an airline on its appointment as an appointed representative of a UK medical/travel insurer. Key contacts include Peter Rogan and Stephen Jarvis.

LG advised Arthur J. Gallagher on its acquisition of Oxygen Insurance Managers. A year of change at a senior level saw the arrival of Richard Everett from the FSA, and the departure of Martin Mankabady to Mayer Brown International LLP. NFU Mutual and Generali are clients.

Karen Abbott heads the insurance and reinsurance group at Mayer Brown International LLP, which was strengthened by the arrival of Martin Mankabady. It advised Argo Acquisitions, a subsidiary of Argo Group International Holdings, on its £136m acquisition of Heritage Underwriting Agency.

At Shearman & Sterling LLP, the ‘commercial’ Barnabas Reynolds heads the department. Regularly involved in cross-border deals, it advised Allianz SE on the regulatory aspects of the sale of Dresdner Bank AG to Commerzbank AG (value US$13.9bn). Other important clients include IntercontinentalExchange Inc. (ICE) and Lloyd’s of London.

At Simmons & Simmons, Jennifer Donohue’s forte lies in longevity swaps and insurance-linked securities. She also has considerable experience in the application of cross-border European Commission directives in the insurance single European market. Christopher Braithwaite heads the department. Key clients include Royal London.

Steptoe & Johnson provides ‘very accurate and timely advice’, with Angus Rodger renowned as ‘well versed in insurance matters’. It was instructed by CIGNA Life Insurance Company of Europe on a wide range of regulatory issues, and Swiss Re and QBE are other significant clients.

Beachcroft LLP’s is lauded for its ‘great sector focus’. Prominent clients include Friends Provident, AXA and The Law Society, and it retained its place on Groupama’s panel for insurance agreements and advice on other matters. David Hunt, James MacNish-Porter and Richard Hobbs are the primary contacts.

At DLA Piper UK LLP, private equity specialist Mel Sims is well regarded for his experience in the insurance sector. The team acted for IAG on the sale of its Hastings and Advantage businesses to a management buyout vehicle.

Reed Smith’s Ian Fagelson ‘thinks laterally and finds solutions’. He has considerable transactional and regulatory experience on insurance and reinsurance matters.

Speechly Bircham LLP has a broad practice and considerable experience in advising insurers on IT and data protection issues. The team advised longstanding client Ecclesiastical Insurance Office on its purchase of South Essex Insurance Brokers. Nick Janmohamed and Mervyn Couve are recommended.

Taylor Wessing LLP’s regulatory focus remains on the intermediary side of the London market, and a large growth area has been for non-market clients who have become involved in regulated insurance activities primarily as intermediaries. It counts Hiscox and Colemont Insurance Brokers as clients. Peter Kempe is recommended for non-contentious work, and Clive Cunningham for regulatory matters.

Field Fisher Waterhouse LLP advised the Scheme Trustee of Electricity Supply Pension Scheme on setting up investments with insurance companies; Kirstene Baillie is the prime contact.

Maclay Murray & Spens LLP’s Philip Skerrett is experienced in life insurance.