Pinsent Masons advises Canada Life on the acquisition of £875M annuity business from Equitable Life

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.”

Latest press releases

Show me all press releases

Pinsent Masons launches online tool to spot future home-working related litigation for financial services firms

Multinational law firm Pinsent Masons has launched a new working-from home audit tool to help financial services organisations understand the hidden litigation and regulatory risks associated with staff increasingly working from home on a more permanent basis.

Pinsent Masons advises Seraphine Group PLC on its £150m main market IPO

Multinational law firm Pinsent Masons is advising Seraphine Group plc, an international digitally-led maternity and nursing wear, on its IPO and premium listing on the main market of the London Stock Exchange.

Pinsent Masons agrees MOU with Nepal International ADR Center

Multinational law firm Pinsent Masons has today signed a memorandum of understanding (MOU) with Nepal International ADR Center (NIAC), commencing an important collaborative relationship seeking to enhance NIAC’s international arbitration capabilities.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons launches online tool to spot future home-working related litigation for financial services firms

Multinational law firm Pinsent Masons has launched a new working-from home audit tool to help financial services organisations understand the hidden litigation and regulatory risks associated with staff increasingly working from home on a more permanent basis.

Pinsent Masons unveils FY21 year end results

Multinational law firm Pinsent Masons has announced its FY21 year end results, reporting against last year’s metrics as the firm advances its strategy to become a purpose-led, professional services business with law at the core.

Pinsent Masons to cut absolute global carbon emissions by at least 50%

Multinational law firm Pinsent Masons has unveiled targets to cut absolute carbon emissions by a minimum of 50% by 2030, as it continues to reduce its environmental impact and support clients in tackling the climate crisis.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts