Andrew Tromans
Partner, Corporate & Financial Services
Andrew Tromans is a partner in the London office and a member of the Corporate & Financial Services Department. He advises insurance and financial institution clients – including life and non-life insurance companies – Lloyd's vehicles, brokers and other intermediaries on a broad range of company law matters, mergers and acquisitions, joint ventures, outsourcings and start-ups.
Andrew has conducted a number of significant insurance business transfers under Part VII of FSMA 2000. His practice also includes advising on policy wordings, FSA and EU regulatory matters (including the UK regulatory handbooks and the implementation of Solvency II), capital-raisings and the establishment of new insurance vehicles. He has particular experience in the life insurance market and has also advised on a number of significant transactions in relation to businesses at Lloyd's of London.
He is recognised in Chambers UK (2023), which cites his "excellent intellect" and "creative and commercial approach to the challenges". He is also recognised by The Legal 500 UK (2023) as a "Leading Individual" for Insurance: Corporate and Regulatory, which highlights that clients praise his "intellect and superior drafting and negotiation skills" with a client noting he is "our most trusted legal adviser."
Experience
Prior to joining Willkie in 2015, Andrew was a partner at Clyde & Co. LLP.
Andrew has been a speaker at numerous events including City Week, the Commercial Risk European Insurance Seminar and various seminars, particularly in relation to reinsurance and global insurance policies. He is a contributor on UK regulatory matters to the leading reinsurance textbook The Law of Reinsurance by O'Neil and Woloniecki.
Andrew's representative experience includes:*
- Ark Insurance Holdings in its $800 million equity capital investment from White Mountains
- Swiss Re on its $935 million acquisition of the business of Zurich Specialties London Limited, achieved by way of reinsurance and Part VII transfer
- Glacier Re on the sale of Glacier Insurance
- Private equity owners (HBK and Quantum) on the sale of Glacier Re to Catalina
- Sale of Olso Re to Tawa Plc
- Houston Casualty Company on the sale of Rattner Mackenzie Limited to Marsh
- Ark Syndicate Management on its $435 million MBO from Aquiline
- AmTrust on its acquisition of Sagicor at Lloyd's
- Antares on its third-party funds at Lloyd's facilities
- OP-Pohjola on its acquisition of the Finnish business of Skandia Life Limited
- A major private equity fund on its bid for a Lloyd's business
- Canopius on its bid for Omega Plc
- The sale of an Irish reinsurer to a Bermuda fund
- A major UK composite insurer on a finite reinsurance project
- The sale of an Irish reinsurer subsidiary of a Bermudan reinsurer
- Regulatory and reinsurance matters for several large captive insurers in Bermuda and Ireland
- Regulatory advice on the Test-Achats judgment for three UK life insurers and two UK motor insurers
- Advice in relation to pension buy-outs, including preparation of standard form documentation for use in bids to trustees and work on transactions for two insurers
- Development of new annuity products in the aftermath of the UK budget announcement on annuities
- The establishment of a new UK regulated broker
- The establishment of a new authorised UK reinsurer
- The sale of the entire general insurance portfolio of a composite insurer to a third-party run-off provider
- The disposal of 1992 and prior run-off business for a UK general insurer to a run-off specialist
- A joint venture between a life reinsurer and software provider
- Regulatory advice (including insurance) in relation to a car-sharing scheme
- Negotiation of custody arrangements with banks in respect of collateralisation of reinsurance obligations
* Andrew advised on these matters prior to joining Willkie.
Credentials
Education
College of Law, Diploma, 1997 Oxford University, MSc, 1995 University of Cambridge, MA (honors), 1994