Herbert Smith advised Allied Zurich on the consolidation of Zurich Financial Services Group, including Zurich Allied AG, under a single holding company. The £24bn transaction involves the statutory merger of Allied Zurich with a new vehicle to form a new company. Stephen Hancock, corporate partner at Herbert Smith, led a team of 11, which worked closely Swiss firm Pestalozzi Gmuer & Patry. Freshfields acted for Zurich Allied.