Team size: 26
Major legal advisers: Pinsent Masons, Clifford Chance
 

What are the most significant cases or transactions that your legal team has recently been involved in? 

As of February 2023, we were involved in a £6.5bn UK pension buy-in agreement between Intact, the RSA UK pension trustees and the Pension Insurance Corporation. This was the largest and most innovative deal of its kind in the UK, requiring intensive legal judgement provided by legal operations director and senior legal counsel Paul Bickley. We have also been involved in the sale of RSA’s personal lines motor portfolio in Q1 2023 to Ardonagh, which was led by senior legal counsel Andy Sykes and Charlotte McIntyre. Lorna Youssouf, deputy company secretary, led a wide-ranging governance project which rationalised seven of the twelve top-level management committees, this involved both structural and behavioural improvements to reduce meeting times, re-focus on individual accountability, and improve focus on key issues. We have also been involved in the integration of Intact and RSA following Intact’s £7.1bn takeover, as well as the sale of RSA’s Middle East businesses to National Life and General Insurance Company. 

What do you see as an opportunity or risk over the next six months? 

I believe that a key risk is talent retention, the flexibility of the employee experience is an ever-increasing focus, alongside the need to foster attractive opportunities and an embracing company culture. Salaries in the legal market are on the rise, so general counsel will have to work hard to retain their best talent. 

What are some of the main trends impacting the industry sector you work in in the United Kingdom? 

It is a time of great disruption in our industry, and the need for in-house legal support is greater than ever. Sweeping regulatory changes have been introduced including the FCA’s Product and Pricing Rules and the FCA’s Consumer Duty. Rising inflation has had a significant impact on insurance supply chains, leading to renewed focus on pricing and customer experience, and the impacts of COVID generated huge public and regulatory focus on insurers alongside intense legal analysis of policies and reinsurance implications.
 

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company? 

ESG, social impact and sustainability are of particular relevance to insurance companies given the multi-dimensional ramifications for the sector. ESG and social impact is taken very seriously at our organisation, and we have worked with the Trustees of the RSA Pension Scheme to introduce a new sustainable investment fund, the RSA Pension Low Carbon Equity Fund. As general counsel I am responsible for the board’s agenda and ensuring that ESG is considered appropriately.