Duncan Barber > Linklaters LLP > London, England > Lawyer Profile

Linklaters LLP
ONE SILK STREET
LONDON
EC2Y 8HQ
England

Work Department

Corporate, insurance.

Position

Duncan is a leading practitioner in the insurance sector. He has extensive experience in all types of corporate transactions within the sector, including public and private M&A, reinsurances, distribution arrangements, financings and securitisations. Duncan also advises on insurance regulation including the impact of the Solvency II Directive and the UK leaving the EU.

Duncan has led on many of the transformative transactions within the insurance sector throughout the past 25 years, including advising on several of the demutualisations of the 1990s/early 2000s, on with-profits reorganisations by major insurers and on the increased use of longevity reinsurance as an innovative structure to reduce risk on pension fund liabilities. He has also advised on many transfers of life and non-life insurance business.

Duncan is responsible for managing the firm’s relationships with several of the firm’s key insurer clients. He led the firm’s insurance sector group for 10 years.

Duncan has advised or led on, many of the insurance sector’s highest profile transactions. These include advising:  

  • Lloyds TSB (now Lloyds Banking Group) on its £7bn acquisition of Scottish Widows and the subsequent demutualisation, which, in addition to being a high-profile, high-value transaction, required the negotiation of bespoke protections for Scottish Widows’ policyholders, including negotiating with regulators a series of unprecedented capital reserves  
  • Old Mutual on its takeover of the Swedish-headed global insurer Skandia, which was, at the time, the highest value takeover ever in the insurance sector. This involved preparing a UK prospectus for Old Mutual which, once approved in London, was then passported for use in Sweden and other European jurisdictions and also required obtaining regulatory approval in about 30 jurisdictions  
  • Swiss Re’s “Admin Re” life and pensions business on its acquisition of Guardian Assurance from Cinven and management of Guardian Assurance, which involved detailed due diligence given Swiss Re was buying from private equity sellers, and was signed at a time when there remained uncertainty as to the approach being applied by the regulators to insurers under Solvency II including the subsequent Part VII transfer of the business of Guardian Assurance to ReAssure Limited  
  • Aviva UK Life on the transfer of the whole of the long-term life insurance business of Friends Life Limited and Friends Life and Pensions Limited to Aviva Life & Pensions UK Limited by way of a court-sanctioned insurance business transfer Scheme 
  • the Association of British Insurers and various UK insurers on the implications of, and contingency planning for, Brexit 
  • Generali Group on the disposal of its entire shareholding in Generali Nederland (and its subsidiaries) to ASR Nederland

 

Duncan is also a contributory author to A Practitioner’s Guide to The FSA Regulation of Insurance.

Career

Trained Linklaters; qualified 1993; solicitor 1993-2001; partner 2001 to date.

Education

St John’s College, Durham (1989 BA Law); Law Society Final Examination (1990).

Lawyer Rankings

London > Insurance > Insurance: corporate and regulatory

(Hall of Fame)

Duncan BarberLinklaters LLP

Linklaters LLP is recognised for its de-risking practice, which covers buy-ins, buy-outs and longevity swaps. The department is also adept at dealing with M&A, reinsurance issues and internal reorganisations, including Part VII transfers, advisory work and distribution. Lorna Tennent oversees the team, advising multinational insurers on various aspects of Solvency II. Corporate lawyer Dan Schuster-Woldan is the global relationship partner for clients such as AXA and Phoenix and offers wide-ranging experience in public and private M&A, demergers, joint ventures, corporate restructurings and equity capital markets transactions. Duncan Barber is recommened for his work across the breadth of the non-contentious insurance space, particular focusing on M&A, reinsurances, distribution arrangements, financings and securitisations. Ben Wilkinson is another key name to note.