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 advises China Education on the acquisition of King's Own Institute

International law firm Pinsent Masons has advised China Education on the AU$128m acquisition of King's Own Institute in Australia.

Pinsent Masons advises Ebbsfleet Development Corporation on critical land acquisition for garden city project

International law firm Pinsent Masons has advised Ebbsfleet Development Corporation (EDC) on the acquisition of land from Ebbsfleet Investment GP Limited for a landmark regeneration project.

Increase in average prison sentence length for tax evasion - now over two and a half years

There was a 10% rise in the average prison sentence length for tax evasion last year jumping to 2 years 7 months*, up from 2 years 5 months, says Pinsent Masons, the international law firm.

People who viewed this press release also viewed

Show me all press releases

FCA investigations into cryptocurrency businesses jumps

The number of live FCA investigations into cryptocurrency businesses has increased 74% to 87 (FCA, September 2019), up from just 50 in September 2018, says Pinsent Masons, the international law firm.

Pinsent Masons advises on Hong Kong listing of LFG

International law firm Pinsent Masons has advised the Joint Sponsors (Lego Corporate Finance Limited and TUS Corporate Finance Limited) and the Underwriters, on the approximately HK$121 million public offer and placing of shares, and listing on the Main Board of the Hong Kong Stock Exchange of LFG Investment Holdings Limited (“LFG Investment”).

Pinsent Masons Joins Climate Bonds Partners Programme

International law firm Pinsent Masons has joined Climate Bonds Initiative's Partners Programme, an international network mobilising debt markets to tackle climate change and finance green solutions.

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