Law firm DLA has annoucned a restructuring of its insurance team, merging its corporate insurance and risk solutions team with its specialist M&A insurance team within the corporate department.
The firm said its London-based insurance and reinsurance coverage claims team was growing and would continue to work closely with the newly expanded team, concentrating on London Market and international dispute resolution for Lloyd’s and the company run-off markets.
DLA insurance partner Nigel Montgomery, said: “We believe that our transactional team has worked on more acquisitions of insurers and brokers, capital reductions and other restructuring deals than any other team in the insurance field in recent years.
“The past decade has seen more industry consolidation and fewer insolvencies. This has changed the legal and regulatory landscape. Run-off, previously the death knell of many companies, is now a valuable management tool and a key part of corporate planning.
“There is a promising emerging group of companies willing to buy run-off portfolios - classic M&A deals - and an enthusiasm in the finance industry to invest and lend for the purpose."
He said the changes to the firm’s insurance teams were designed to help it meet the challenges posed by the changing insurance industry
