Rebecca Hughes
Associate, Corporate & Financial Services
Rebecca is an associate in Willkie’s Corporate and Financial Services Department in London. She advises insurance and reinsurance clients on all aspects of non-contentious corporate insurance transactions, including domestic and cross-border M&A (both buy and sell side), renewal rights transfers, portfolio transfers (including by way of Part VII of FSMA), reorganisations, reinsurance transactions, bancassurance and other distribution arrangements, transactions involving Lloyd’s and providing structuring advice in relation to such transactions.
Experience
Rebecca has advised on the following selected significant matters*:
- Marco Capital on its transformational acquisition of Capita plc’s insurance business – Capital Commerical Insurance Services and Capita Managing Agency.
- Pelican Ventures, on its joint investment with J.C. Flowers and Berkshire Hathaway and entry into the Lloyd’s market involving the establishment of a corporate member and turnkey arrangement, acquisition of the Ariel Re platform, related quota share and syndicate management rights from Argo Group (ARGO), and simultaneous corporate member support to Apollo Management.
- Zurich Insurance group on a number of confidential transactions across Europe, the UK, and Asia.
- AIG on the sale of its Greek intermediary operations.
- A European life insurance consolidator on the proposed reinsurance and follow-on acquisition of a Belgian life insurer; and the disposal of its Belgian non-life insurance business to a pan-European composite insurance company, valued in excess of €3 billion.
- A Chinese multinational conglomerate on its proposed acquisitions of a majority shareholding in two separate Greek insurers in excess of €1 billion each from two Greek state-owned banks, including complex bancassurance arrangements.
- Oaktree backed Marco Capital on its first legacy transaction acquiring British Reserve Insurance Company Limited from Allianz.
- Marco Capital on the RITC (underwritten by Marco’s recently established Syndicate 1254) of Syndicate 2689’s 2019 and prior years of account, including transitional services arrangement.
- Marco Capital on its acquisition of Guernsey based Humboldt Re.
- Marco Capital on its acquisition of Isle of Man based Captive VA Insurance Services Limited.
- A €300 million joint venture and bancassurance transaction for a preferred bidder in the auction process for the sale of Eurolife (the third largest insurer in Greece) by Eurobank.
- ARAG on the acquisition of DAS’s Irish branch by way of a portfolio transfer (and related LPT reinsurance arrangements).
- GE on the sale of its Irish insurance captive to R&Q and related commutation of reinsurance liabilities.
*Rebecca advised on some of these matters prior to joining Willkie