Insurance

News

hire

DWF takes on Clydes reinsurance co-head ahead of IPO listing

In its biggest pre-listing lateral hire to date, DWF has brought in Clyde & Co partner and global co-head of reinsurance David Abbott. Abbott joined Clydes as part of the 2012 merger with Barlow Lyde & Gilbert having started work there in 1998. It is thought that he will not have to serve his full […]

Exit sign

Ince exits continue as more details of tie-up emerge

Ince & Co offshore energy duo Renaud Barbier-Emery and Jonathan Goldfarb have become the latest partners to leave the firm as it prepares for its reverse takeover by AIM-listed Gordon Dadds. The pair are joining Norwegian firm Wikborg Rein’s London office as partners. They will be joined by several members of junior legal staff who […]

Hong Kong

Paul Hastings Hong Kong chair moves in-house for global GC role

Paul Hastings’ Hong Kong partner and office chair Steve Winegar has moved in-house, taking up a new role as international general counsel at Chinese insurance giant Ping An. The move will see Winegar returning to an in-house position in the financial sector. He joined Paul Hastings as a corporate partner in 2010 from Goldman Sachs, […]

farm countryside

NFU Mutual cuts three firms from panel

The National Farmers Union’s (NFU) insurance arm has cut its panel firms from seven to four, with DWF among those winning a place. DWF has been added to the line-up for NFU Mutual, while DAC Beachcroft has retained its place. The two other firms on the roster are Scottish-based BTO Solicitors and Belfast-headquartered John McKee […]

Ince loses insurance chief amid merger talks

Ince & Co’s global head of insurance Joe O’Keeffe has departed for Stephenson Harwood, just two weeks after it was revealed that Ince had entered into merger talks with Gordon Dadds. Insurance partner O’Keeffe, who specialises in trade, shipping, yachts and superyachts, joined Ince in 1991 and was made partner in 2000. During his time at the firm, […]

Analysis

Sky HQ

Four things the Comcast deal tells us about City M&A

Over the weekend, nearly two years of tussling for UK media giant Sky came to an end when Comcast’s £30bn bid trumped 21st Century Fox.

But while magic circle firms maintain only they can act on big-ticket M&A, the variety of advisers on call was striking. Here’s what we learned.

Featured Briefings

Dashcams and GDPR

By Brian Craig A dashboard mounted camera or “dashcam” is an inexpensive way businesses to combat vehicle accident insurance fraud. But these devices are subject to the General Data Protection Regulation (GDPR). The image of a person recorded by a dashcam will constitute personal data under the GDPR since it allows for the identification of […]

Insurance & Reinsurance 2018: issues facing lawyers and clients today

Have there been any major changes or developments in your jurisdiction over the past 12–18 months? How have these impacted your practice? In August 2016, the Bermuda Monetary Authority (BMA) issued the Insurance Manager Code of Conduct requiring insurance managers to follow a set of procedures when carrying out their functions. In September 2017, the […]

CMA to investigate loyalty penalty super-complaint

By Tori Swann & Simon Barnes The Competition and Markets Authority (CMA) has 90 days to respond to a super-compliant lodged by the Citizens Advice Bureau (CAB) over its concerns that customers are suffering across a variety of sectors as a result of loyalty penalties. Specifically, the CAB, which lodged the complaint on 28 September, is […]

Angola’s Shipping Law Review

By Joao Afonso Fialho, Jose Miguel Oliveira, Angela Viana The fifth edition of this book aims to continue to provide those involved in handling shipping disputes with an overview of the key issues relevant to multiple jurisdictions. We have again invited contributions on the law of leading maritime nations, including both major flag states and […]

Taxation in Guernsey- A summary

A company incorporated in Guernsey is treated as tax resident in Guernsey in any year of charge. Companies resident in Guernsey are subject to income tax on their worldwide income (foreign tax relief is available). A standard rate of 0% applies to most companies that are tax resident in Guernsey. However, income arising from certain activities […]

Insurance business transfer in Guernsey- An outlook

Insurers often wish to transfer portfolios of insurance contracts, either to another insurer in the same group in the course of a restructuring; or to a third party insurer (typically where the transferor wishes to exit a particular market). In the UK, Part VII of the Financial Services and Markets Act 2000 (“Part VII”) permits […]

New legislative framework for establishing insurtech innovation in Bermuda

By Chris Garrod, William Cooper, Jacqueline King Bermuda has recently introduced a new legislative framework for establishing insurers and insurance intermediaries that carry on business in an “innovative or experimental manner”. The Insurance Amendment Act, 2018 (the “Amendment Act”), which came into effect on 23 July 2018, amends the Insurance Act, 1978 (the “Act”). It […]

Kazakhstan introduces new ‘Squeeze-Out’ mechanism for major shareholders

On 2 July 2018, Kazakhstan adopted the Law No. 166­VI “On amendments and changes to certain legislative acts of the Republic of Kazakhstan on Insurance and Insurance Activities, the Securities Market” (the “Law”). The Law entered into force on 15 July 2018 (with the exception of certain provisions, which will come into force later). Among […]

Luxembourg perspective on forthcoming insurance distribution directive

Luxembourg counsel Eva Gyori-Toursel gave a recent interview to Delano in respect of the Insurance Distribution Directive that is set to come into force in October. The aim of the directive is to “regulate the way insurance products are designed and sold both by insurance intermediaries and directly by insurance undertakings,” and it sets down […]

PPI updates: Court case and FCA consultation

Walker Morris has reported previously on the Financial Conduct Authority’s (FCA) proposals for the handling of Payment Protection Insurance (PPI) complaints and for dealing with the so-called ‘Plevin problem’ (that is, the uncertainty following the Supreme Court’s decision that non-disclosure of a significant amount of PPI commission earned by a lender created unfairness in the lender/borrower […]

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