Naoise Harnett

• Royal London on the Irish High Court sanctioned scheme of arrangement relating to the consolidation of its with-profits business, a completely novel deal in the Irish market and won the Finance Dublin “Insurance Restructuring Deal of the Year” (2021) ;*
• Athora group on the transfer of its variable annuity business to the Monument group with assets under management valued at nearly EUR1bn for circa 13,000 customers through an auction sale process and Irish High Court sanctioned portfolio transfer. This was the largest court sanctioned transfer of this type of business in Ireland and won the Finance Dublin “Insurance Deal of the Year” (2021); *
• AXA Life Europe on the Irish court sanctioned transfer of its portfolio of unit-linked offshore investment bonds to LCCG. *
• AXIS Specialty Europe SE in respect of the Irish and Australian court sanctioned transfer of the non-life insurance business underwritten by its Australian branch to Swiss Re and day one reinsurance agreement. *
• Athora Ireland plc on the Irish court sanctioned transfer of a large book of unit-linked life insurance business to the Utmost Group. *
• Athora group on the acquisition of Aegon Ireland plc, an Irish life insurance undertaking. *
• Banco Santander on its sale to CNP Assurance of a majority interest in its Irish cross-border insurance subsidiaries. *
• Phoenix group on the Irish law aspects of the acquisition of Standard Life Aberdeen’s insurance division. *
• A large life insurer on the Irish law elements of the reinsurance of its variable annuity book of business. *
• Athora group on the funds withheld day one reinsurance treaty applying to its book of variable annuity business pending transfer to the Monument group. *
• A large Irish reinsurer on an Irish law reinsurance agreement and retrocession agreement in respect of mortgage default risk in the first transaction of its type in Ireland. *
• The XL group on the creation of an Irish registered SE to engage in reinsurance business. *
• Various clients on change of control notifications to the Central Bank of Ireland including Fosun, Athora, Unipol and Hertz. *
• Various clients on insurance undertaking authorisations, insurance intermediary authorisations and insurance regulatory matters both in Ireland and the UK. *
• Various (re)insurers on Solvency II matters including tiered capital instruments and admissibility, outsourcing, group supervision and risk mitigation techniques. *

*denotes experience at a previous firm.