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Insurance giant Zurich has concluded its secretive review of global advisers, with six firms making it on to its preferred list.
It is understood that five UK-based firms have made the global panel, which covers Zurich’s high-end corporate and insurance work in Europe and the US. The review was presided over by Zurich group general counsel Monica Maechler.
Freshfields Bruckhaus Deringer, which has enjoyed a longstanding relationship with the insurer, has been appointed, along with Herbert Smith, Lovells and US insurance expert LeBoeuf Lamb Greene & MacRae.
CMS Cameron McKenna, which has not acted for Zurich in the past, also made the cut. Slaughter and May, which is understood to have pitched, was among those to miss out.
DLA Piper Rudnick Gray Cary completes the list – the legacy Piper Rudnick is well known in its Chicago home for its insurance expertise and has a longstanding relationship with Zurich.
At the same time, Zurich is overhauling its group of preferred advisers on costs, auditing and negligence work for personal injury matters. It is understood that the review has reached its second phase.
Zurich is the second-largest insurer in the US and the UK’s third-largest. It has offices in more than 50 countries and last year posted a profit of $2.3bn (£1.22bn).
Zurich, Freshfields, Herbert Smith, Lovells, Camerons, DLA Piper, LeBoeuf and Slaughters all declined to comment.