Pinsent Masons advises Aviva on Part VII transfer of former AIG Life protection business
27 Nov 2025 | 10:06 am |
Multinational law firm Pinsent Masons has advised the Aviva Group on the successful High Court-sanctioned transfer of the entire insurance business of Aviva Protection UK Limited (formerly AIG Life) to Aviva Life & Pensions UK Limited, under a Part VII insurance business transfer scheme.
The transfer was approved by the High Court on 26 November 2025 and is scheduled to take effect on 31 December 2025.
The transaction involves approximately 1.3 million individual protection policies and 15,000 group policies, representing an additional 1.2 million individual beneficiaries. This follows Aviva’s acquisition of AIG Life Limited from Corebridge Financial, Inc. in 2024 and marks a significant step in consolidating Aviva’s UK life and protection operations, enabling greater efficiency for customers and stakeholders.
The Pinsent Masons team advising on the transfer was co-led by Partners Hammad Akhtar and Peter McCusker, supported by Associate Priyanjoli Bose. The process adhered to strict legal requirements under Part VII of the Financial Services and Markets Act 2000, alongside separate schemes in Jersey and Guernsey.
Commenting on the transfer, Peter McCusker said: “Part VII transfers of this scale are complex, and we are proud to have supported Aviva in navigating the process to ensure a smooth transition for policyholders.”
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