Team size: 52

What are the key projects that you have been involved in over the past 12 months?

Under the leadership of General Counsel Claire Singleton, Resolution Life’s multi-jurisdictional legal team delivered a series of complex, high-value projects during 2024, distinguishing itself through agility, strategic focus, and cost-effective execution in a dynamic legal landscape.

A major highlight was the negotiation of a $10.6bn acquisition of Resolution by Nippon Life. Singleton navigated a highly intricate transaction structure and negotiations with both Blackstone and Nippon. This transaction also contemplates the combination of the company’s Australian operations with Nippon’s existing Australian business to form a JV (Acenda), further underscoring Singleton’s ability to handle multifaceted cross-border deals. Singleton serves as a director of the Australian business and will continue as a director of the JV going forward. The legal team’s leadership on this matter was vital in achieving a successful outcome, all while maintaining seamless communication with multiple external firms and managing many stakeholders. The team are now running the change of control process with 24 filings across the globe. The deal remains subject to regulatory approval.

Singleton also spearheaded the company’s adaptation to emerging global regulatory frameworks. Of particular note was the implementation of key requirements as the Group was classified as an IAIG (Internationally Active Insurance Group).

Further underscoring their regulatory and capital markets capabilities, Singleton led the legal elements of the successful inaugural July 2024 listing of $500m Tier 2 debt securities on the London Stock Exchange’s International Securities Market. In addition to leading the team in drafting the offering memorandum and negotiating transaction documents, Singleton prepared the business for the application of the UK Market Abuse Regulation regime, reflecting her proactive approach to regulatory compliance.

Singleton’s expertise in corporate insurance transactions was instrumental in advancing Resolution Life’s strategic growth initiatives. Highlights included the company’s first flow reinsurance arrangement with a Japanese insurer and the completion of a UK pension risk transfer with a leading life insurer.

Throughout 2024, the team also supported operational integration following deals signed from 2023 to 2024, advised on the launch of a new presence in Singapore, and contributed to the company’s transformation to a “One Company” functional operating model. All of the above was achieved while Singleton led the team in delivering business-as-usual support following its previous acquisition in late 2023 by a Blackstone, ensuring continuity while embedding new governance frameworks.

Cost management remained a key focus, with the team securing bespoke arrangements with key law firms to reduce legal spend substantially.

Through its strategic execution, legal acumen, and seamless integration with commercial teams, the legal team under Singleton’s guidance has played a decisive role in advancing Resolution Life’s objectives.

Have you had any experiences during your career as a lawyer that stand out as particularly unique or interesting?

I am very privileged to have had many unique and interesting experiences. One that taught me an incredible amount and shaped my critical thinking and resilience was at a very early stage of my career, in private practice as a trainee and then newly qualified solicitor. I worked for a UK and Russian-listed oil and gas company doing detailed work on its offering circular and approval of very large transactions.

During this process it transpired that the approval of several large transactions was part of a wider fraudulent conspiracy, and I went through the process of reporting my client to the Serious Fraud Office and then running an investigation. It was a very early age to have 21 versions of my verification notes and all my emails reviewed in an investigation. The dynamics and issues were very unique, but this taught me a huge amount about the role of legal in times of stress and resilience to manage the dynamics of a turbulent time.

What do you think are the most important attributes for a modern in-house counsel to possess?

Modern in-house counsel need to have the appetite to really understand the business. It is not possible to be a successful in-house lawyer without being able to tailor advice to the specific strategy and goals of the company and to do that well there must be appetite to understand how the business makes money, understand key challenges and risks, products, investments and technology.

In-house lawyers need to be adaptable, flexible and have the ability to contribute more than their subject matter expertise. Businesses rely on in-house counsel for their judgement, not just ability to provide legal advice.

Stakeholder management is a key attribute in terms of managing the Board and senior executives but also regulators and other departments. Often legal counsel needs to deliver important and clear directions, which can include difficult messages, so stakeholder management to land these appropriately is key.

Modern in-house counsel also need to be open to and have the skills to embrace technology and changing practices. It is vital for an in-house function to be efficient, and these tools can significantly improve delivery.