Pinsent Masons advises Zurich on the sale of its workplace pensions business to Lloyds Banking Group
19 Oct 2017 | 10:45 am |
International law firm Pinsent Masons has advised Zurich on the sale of its UK workplace pensions and savings business to Lloyds Banking Group to boost Scottish Widows.
The strategic deal will see Lloyds Banking Group acquire Zurich’s UK workplace pensions and savings business with assets under administration of more than £15 billion and c. 500,000 customers.
The transaction is in line with Zurich’s strategy and includes a multi-year, exclusive distribution partnership for Zurich to provide group life protection solutions to certain corporate clients of Lloyds Banking Group’s Commercial Banking services. The overall deal underlines Zurich’s ambition to grow in markets where it is performing strongly and further cements its number one position for new sales in corporate protection.
The Pinsent Masons’ team advising on the deal was led by Corporate Partner Hannah Brader with assistance from Chrissy Findlay (Senior Associate) and Emma Dawe (Solicitor) on corporate matters. Specialist pensions advice was provided by Simon Laight and Michael Kemp.
Hannah Brader commented: “We are delighted to be continuing our relationship with Zurich and to have advised on the strategic sale of its UK workplace pensions and savings business to Lloyds Banking Group. This transaction is illustrative of Pinsent Masons’ corporate expertise in the financial services sector and underlines our position as a leading legal adviser in the workplace pensions and savings market.”
The acquisition is expected to partially close in the first quarter of 2018, with subsequent completion and transfer of assets following the required regulatory and legal approvals.
Key Contacts
Latest press releases
Show me all press releasesPinsent Masons named as one of Stonewall's Top Global Employers 2020
Multinational law firm Pinsent Masons has been recognised as a leading lesbian, gay, bi and trans employer by LGBT charity Stonewall in its Top Global Employers Index 2020 for the fifth consecutive year.
Pinsent Masons advised Schütz Family Office on the acquisition of Freie Internationale Sparkasse
Multinational law firm Pinsent Masons has advised Schütz Family Office on the acquisition of private bank Freie Internationale Sparkasse S.A..
Pinsent Masons named a top ten family friendly employer for fourth year in a row
Multinational law firm Pinsent Masons has been named as one of the top ten family friendly employers in the UK by work life balance charity, Working Families.
People who viewed this press release also viewed
Show me all press releasesPinsent Masons advised Schütz Family Office on the acquisition of Freie Internationale Sparkasse
Multinational law firm Pinsent Masons has advised Schütz Family Office on the acquisition of private bank Freie Internationale Sparkasse S.A..
Launch Climate Change Mitigation Sustainability platform
Multinational law firm Pinsent Masons has appointed energy partner Paul Rice to lead its newly created Climate Change Mitigation and Sustainability group as it seeks to embed a coordinated, firmwide approach to the climate crisis.
Pinsent Masons advises EmpatKali founders in deal that signals Asia expansion for Afterpay
Multinational law firm Pinsent Masons has advised the founders of EmpatKali, Jamie Camidge and Hadi Tanzil, on the sale of the company to Afterpay.
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]