Pinsent Masons advises on £1bn Royal London asset transfer

14 Feb 2019 | 10:51 am | 1 min. read

Transaction safeguards policies in the event of a no-deal Brexit

International law firm Pinsent Masons has advised Royal London on its £1bn asset transfer to newly formed Irish subsidiary, Royal London Insurance DAC.

Led by insurance partner Hammad Akhtar, the firm advised the mutual on the implementation of its Brexit strategy which involves the Part VII transfer of legacy Irish, German and other business from the mutual to DAC.

Commenting on the transfer, Hammad Akhtar, said: "I am delighted to have advised Royal London on another complex strategic project. Our team to worked closely with Royal London from the early stages of project to deliver the transfer before Brexit and in line with the group’s timetable.”

As part of the transaction, the majority of the transferred business has been reinsured back to the UK-based mutual. The strategy enables Royal London to service EU-based policyholders in the event of a no-deal Brexit should 'passporting rights' be scrapped.

Deputy group general counsel of Royal London, Richard Gordon, said: “This was an important project for Royal London, and for our Irish and German policyholders in particular. 

"The Brexit context and the nature of some of the transferring business meant that there were a number of challenges and complications, but these were overcome and we achieved our desired outcome.  The collaboration between the Royal London team and Pinsent Masons, expertly led by Hammad, contributed hugely to this.”

The team at Pinsent Masons included legal director Matthew Brewer, banking partner Nick Gavin-Brown and regulatory partner Iain Sawers.



Key Contacts

Hammad Akhtar

Hammad Akhtar

Partner, Head of Corporate for Financial services

View Profile

Latest press releases

Show me all press releases

CATS pipeline £40m Court of Appeal dispute

Multinational law firm Pinsent Masons has advised the owners of the Central Area Transmission System (CATS) gas pipeline in the North Sea on a landmark contractual dispute case heard in the Court of Appeal.

Dispute Resolution Group appoints partners in Munich

Multinational law firm Pinsent Masons has appointed partners Johanna Weißbach and Christian Schmidt as litigation partners in their Dispute Resolution Group in Munich, where they will both focus on clients within the Financial Services and Advanced Manufacturing & Technology sectors.

Pinsent Masons announces 2020 partner promotions

Multinational law firm Pinsent Masons has announced 17 new partners in its 2020 promotion round as it promotes outside of traditional legal services for the first time.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons hires finance partner in Beijing

International law firm Pinsent Masons has hired Kanyi Lui into its Beijing office to expand the firm's finance offering in China and across Asia.

Employment and Reward group grows with the appointment of Dr Anne Sammon

Pinsent Masons has appointed Dr Anne Sammon as an Employment partner in its Employment and Reward group in London where she will focus on clients within the Financial Services sector.

Pinsent Masons advises Redington on deal from Phoenix

International law firm, Pinsent Masons, has successfully advised the founders and management of Redington, the independent institutional investment consultant, on an investment deal from Phoenix Equity Partners, a leading UK mid-market private equity firm.

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