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. 

Latest press releases

Show me all press releases

Pinsent Masons continues to grow its structured finance team with new partner Igor Zyskind

Multinational law firm Pinsent Masons continues the expansion of its structured finance team with the appointment of partner Igor Zyskind in its London office.

Pinsent Masons advises Puma Energy on the issuance of $500m 7.750% high yield senior notes due 2029

Multinational law firm Pinsent Masons has advised global energy company Puma Energy on the Luxembourg aspects of the successful issuance of $500m 7.750% high yield senior notes due 2029.

Pinsent Masons Advises Ithaca Energy On Transformational North Sea Merger With Eni’s UK Upstream Business

Multinational law firm Pinsent Masons is advising leading UK independent exploration & production company Ithaca Energy plc on its transformational combination with Eni S.p.A.’s UK upstream oil and gas assets, establishing Ithaca Energy as the second largest independent operator in the UKCS by 2024 production.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons promotes 22 to its partnership

Multinational law firm Pinsent Masons has boosted its global professional services capabilities with the promotion of 22 new partners.

Pinsent Masons hires senior litigation and investigations partner Melanie Ryan in London

Multinational law firm Pinsent Masons has appointed litigation partner Melanie Ryan to join its Global Investigations team in London.

Pinsent Masons hires senior finance partner Nick Tostivin to lead its Finance team in London

Multinational law firm Pinsent Masons has appointed partner Nick Tostivin to join its rapidly expanding financial services team in London, where he will lead the Finance team.

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

We are processing your request. \n Thank you for your patience. An error occurred. This could be due to inactivity on the page - please try again.