Insurance and pensions in Isle Of Man

Appleby

Appleby’s corporate lawyers, with Simon Harding a particularly notable name, handle significant transactions for leading insurance companies operating in the Isle of Man, advising on the regulatory compliance aspects of mergers and acquisitions, transfers of business, redomiciliations and restructurings. The firm has a growing pension advisory offering headed by Juan Thornley, who can assist global financial services groups with defined benefit and defined contribution schemes.

Practice head(s):

Simon Harding; Juan Thornley

Testimonials

Katherine Johnson and Sophie Corkish are very helpful and professional

A knowledgeable corporate insurance team

Michelle Brook is helpful, responsive and easy to work with

Key clients

Lloyds Bank

Zurich

Thomas Miller

Cains

Cains provides advice on complex corporate issues to an enviable list of multinational insurers and private banks. Jonathan Latham has particular expertise in high-value policy transfers, as well as providing advice on Manx regulations for insurance company reorganisations. Tristan Head is the name to note for establishing and restructuring captive insurance companies. The firm’s wider corporate department handles merger and acquisition transactions for insurance companies when they arise.

Practice head(s):

Jonathan Latham; Tristan Head; Scott Leonard-Morgan

Work highlights

  • Advising on the Isle of Man-specific aspects of the sale of Canada Life’s block of insurance policies with an asset value of $2.7m to Scottish Friendly.
  • Isle of Man counsel on the transferal of £7.5bn of insurance policies from Abbey Life Assurance Company to Phoenix Life.

DQ

DQ's pensions offering is spearheaded by Annemarie Hughes, who advises premier Isle of Man pension administrators on all legal and regulatory requirements. Of particular note is the practice’s expertise in drafting the island’s first occupational pensions schemes to gain approval under the newly introduced pension freedoms legislation. The team also has experience with defending pension trustees against Isle of Man Pensions Ombudsman claims.

Practice head(s):

Annemarie Hughes

Testimonials

‘The team understand our industry and will approach an issue from a commercial as well as a legal or regulatory point of view.’

‘All individuals we have had contact with are professional and honest when appraising a situation and all are willing to share experience and knowledge.’

Keystone Law

Keystone Law’s leading pensions practice advises on the full range of matters, with considerable strength in creating domestic and international schemes for publicly listed corporations, insurers, banks and pension providers. Renowned pensions expert Ben Hughes often acts as counsel to leading UK and US firms on pensions-specific issues arising from corporate transactions, and also advises Isle of Man Government departments on issues including Pension Ombudsman claims and public sector pension obligations.

Simcocks

The team at Simcocks advises on insurance regulatory and issues, captive insurance company formations and other transactions in the industry, with David Spencer being a notable name in the sector. On the pensions front (which is led by Phil Games), the practice assists corporate clients, pension fund trustees and fund members on scheme mergers and restructurings, pension scheme buy-outs, tax compliance and contentious matters.

Practice head(s):

David Spencer; Phil Games