Prakash “PK” Paran is a partner in the Corporate & Financial Services Department and a member of Willkie’s Insurance Transactional and Regulatory Practice Group. PK advises clients on a broad range of corporate transactions, most notably in regulated industries such as the insurance sector and for both major corporations and private equity/investment firms. His core areas of focus include mergers and acquisitions (including competitive auction processes on the buy and sell side), private equity and investments, joint ventures and long term strategic partnerships and corporate reorganizations. PK handles a broad range of transactions in the US and Internationally, often with a global or cross-border dimension.
PK has been highlighted and recognized as a leading practitioner by The Legal 500 United States (2021) and previously in the United Kingdom (2017) and by Chambers & Partners Globally (2018) with one source commenting “He is incredibly knowledgeable, easy to work with, client centric and solution driven.” In 2014, PK was recognized as one of the top 40 (corporate finance) lawyers under 40 in EMEA by the Financial News.
PK was selected to serve on Law360's 2021 Insurance Editorial Advisory Board.
PK has advised on the following selected significant matters*:
- Zurich Insurance Group on a number of M&A transactions in Europe, Asia and the US
- Zurich on its internal reorganization involving UK-Part VII Transfer of its Maltese long-term insurance business
- Liberty Mutual on the sale of its Russian operations
- AIG on the sale and re-acquisition of its Greek operations
- Aviva on certain confidential M&A transactions
- Aon on a number of M&A transactions globally including by way of MBOs and the strategic acquisition of Henderson Insurance Brokers Limited in the UK
- Compre on its acquisition of the UK and US branch business of Generali
- Hudson Structured Capital Management on an investment in R&Q
- MS Amlin on its pan-European restructuring involving the cross-border merger of a UK and a Dutch insurer to create a new Societas Europaea.
- MetLife Inc and American Life Insurance Company (ALICO) on the sale of part of its UK branch business to Admin Re, Swiss Re's vehicle for acquiring closed books of business. The business sold amounts to approximately 300,000 in-force policies with total assets of £1.6 billion
- Fosun (Chinese based conglomerate) on a number of confidential, high-value acquisitions of insurance groups
- AXA on its acquisition of UK insurance intermediary, Global Insurance Management Group plc
- XL Catlin in its acquisition of a significant minority stake in a Russian Reinsurance company from AIG
- Scottish Re Group on the sale of its international Life Reinsurance business including Scottish Re Holdings Limited and its Asian business to Pacific Life Insurance Company
- A number of confidential M&A transactions in the specialty chemicals sector
*PK advised on these matters prior to joining Willkie.
Prior to joining Willkie in 2021, PK was a partner at DLA Piper, where he served as Co-Chair of the Global Insurance Sector.