Tax issues on stake sales and investment into managers: structuring, pitfalls and steps to take now
About
Madison is a corporate insurance lawyer with extensive experience in the pension risk transfer sector and provides transaction advice on a wide range of insurance policies across several practice areas.
Madison advises insurers and reinsurers on pension de-risking solutions, including bulk annuity buy-ins, buy-outs, longevity swaps and reinsurance transactions (covering both pensioner and deferreds). She has advised on several collateralised longevity and funded reinsurance matters (including where illiquid assets are used as collateral), framework reinsurances, flow treaties, master payment and collateral netting arrangements and the reinsurance of deferred member liabilities.
Madison provides support on the insurance aspects of transactions across many practice areas, including Corporate, Real Estate, Tax and Private Client. She has experience advising on insurance policies such as warranty and indemnity insurance, directors’ and officers’ insurance, professional indemnity insurance, title insurance, no search real estate insurances, end of fund life insurances and specific risk insurances.
Madison participates in several diversity and inclusion initiatives within the firm, including, being a long-standing member on our Community and Charity Committee, a mentor to the senior partner on the firm’s first reverse mentoring programme, organising events as a member of the REACH network and being a mentor to one of the firm’s Brunel scholars.
Experience
- Advising Legal & General on its c.£1.6bn bulk annuity transaction with the trustees of the BP Pension Fund.
- Advising Zurich Assurance Ltd on transition of longevity swap for the Skanska Pension Fund.
- Advising Legal & General on its c.£1.6bn buy-in with the trustees of the BP Pension Fund.
- Advising Legal & General on a £900m buy-in with the ICI Pension Fund, securing the benefits of over 7,000 retirees.
- Advising the trustee of a pension scheme on the first ever value share bulk purchase annuity transaction with M&G, which insured the benefits of c.3,200 pensioners and deferred members.
- A leading insurer on its funded reinsurance transaction with an international reinsurer, including in connection with illiquid asset classes.
- Advising two major international reinsurers on their collateralised longevity reinsurance arrangements.
- Advising Legal & General on £1.6bn buy-in with the National Grid UK Pension Scheme.
- Advising Legal & General on its £1.1bn bulk annuity transaction with the Trustee of Maersk Retirement Benefit Scheme.
- Advising Legal & General on its c.£930m full buy-in for the members of the Tate & Lyle pension scheme.
- Advising Legal & General on its £760m buy-in for the members of the Sanofi pension scheme.
- Advising Legal & General on its c.£650m buy-in for the members of the Mitchells & Butlers Executive Pension Plan.
- Advising Legal & General on two bulk annuity transactions with the 3i Group Pension Plan for c.£95m and £650m.
- Advising Legal & General on its c.£370m buy-in with London Heathrow’s BAA Pension Scheme.
- Advising Legal & General on a £370m buy-in with the BAL section of the TUI Group UK Pension Trust.
- Advising Littlefuse on the insurance aspects of its proposed all-cash acquisition of C&K Switches from an affiliate of global private equity firm Sun Capital Partners.
- Advising Exponent on the insurance aspects of its acquisition of H&MV Engineering Limited.
- Advising Binderholz on the insurance aspects of its acquisition of BSW Group from Endless LLP