| AIG
AIG
Team size: Four — three direct reports, including one part-time secondee
Can you give an idea of the most significant cases or transactions that your legal team has recently been involved in?
The Nordic legal team covers all regulatory matters within the Nordics. From a regulatory perspective, interaction with authorities has increased significantly in recent years, and 2022 was no exception.
More directly linked to the business, we have negotiated several new distribution agreements and advised the company in the introduction of multiple new insurance products.
If you had to give advice to an aspiring in-house lawyer or general counsel, what would it be and why?
First and foremost, get to know the business in detail: Study the strategy, understand the distribution channels, gain knowledge about competitors, and deep dive into the financials.
The value you bring depends on the strength of your legal skills and how well you understand the business needs, opportunities, weaknesses, and risk profile. As an in-house legal counsel, you have every opportunity to tailor your legal advice to the business – and this is what differentiates an in-house lawyer from the advice obtained from external law firms. Also, your ability to communicate the legal advice through a business lens is crucial to how your legal advice will be perceived, especially if you have identified unanticipated legal restrains: Make the legal advice solution-oriented and ensure the stakeholders understand not only what you are advising them to do but also why it matters from a business perspective.
Secondly, relationships are key. As an in-house lawyer, you need customers, too: The colleagues who turn to you for advice are your customers. Invest in the relationships. Ensure they know you share the business goals and objectives. Build trust. Being a trusted advisor may be a bit of a cliché, but the fact is that if you do not gain the confidence of your colleagues, they will not turn to you for advice, and you will be left without customers.
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