04 Mar 2015 | 02:44 pm |
International law firm Pinsent Masons has advised Canada Life Limited on the acquisition of Equitable Life’s £875m non-profit annuity business.
The transaction, announced by the parties on 3 March 2015, involves the reassurance of the liabilities with effect from 1 January 2015 and will be followed by a transfer of the annuity policies by way of a court-approved insurance business transfer under Part VII of the Financial Services and Markets Act 2000.
The Pinsent Masons multi-disciplinary team advising Canada Life was led by Insurance partner Bruno Geiringer, with assistance principally from John Christian (Partner, Tax), Tony Anderson (Partner, Banking), Raj Sharma (Partner, Pensions), Jon Fisher (Partner, Employment), Samantha Livesey (Partner, Commercial) and Rosie Macadie (Solicitor, Commercial).
Commenting on the transaction, Bruno Geiringer said:
“It is a pleasure to work with the Canada Life project team and the in-house lawyers, led by Head of Legal Kelvan Swinnerton and Melissa Catalano from the parent company in Toronto. We are delighted to be able to assist Canada Life execute this deal which further strengthens its market leading position as a provider of competitive annuity products. We anticipate there will be more acquisitions of non-core annuity businesses in the UK in light of the fall in sales of individually underwritten annuities following the Chancellor’s pensions reforms.”
Multinational law firm Pinsent Masons has launched a paralegal Solicitor Qualifying Examination (SQE) career pathway initiative with LexisNexis as it seeks to broaden access to the legal profession.
Multinational law firm Pinsent Masons has advised leading global offshore wind energy developer Ocean Winds on a partnership with Ireland’s climate solutions company Bord na Móna to develop projects that will generate up to 2.3GW of clean and renewable electricity to power up to 2.1million homes by 2030.
Multinational law firm Pinsent Masons won M&A Team of the Year (medium deal), TMT Team of the Year and Litigation & Dispute Resolution Team of the Year at the British Legal Awards 2022.
Multinational law firm Pinsent Masons has launched a paralegal Solicitor Qualifying Examination (SQE) career pathway initiative with LexisNexis as it seeks to broaden access to the legal profession.
Multinational law firm Pinsent Masons won M&A Team of the Year (medium deal), TMT Team of the Year and Litigation & Dispute Resolution Team of the Year at the British Legal Awards 2022.
Multinational law firm Pinsent Masons has hired financial services partner José Millán into its Madrid office.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]