Senior Associate

Aleksandra Kalinowska

Languages

Polish
English

Aleks is a Senior Associate in the Financial Services Team specialising in financial services transactions. Since qualifying in England and Wales as a solicitor in 2018, Aleks has been advising a wide variety of clients, including life and non-life (re)insurers, banks and pension scheme trustees. She has worked on a broad range of structured (re)insurance and complex financial services transactions, with particular experience in longevity and asset-based de-risking transactions and associated collateral arrangements. Career highlights so far include advising Pension Insurance Corporation on a £6.5 bn bulk annuity transaction with RSA’s pension schemes, Rothesay Life on its acquisition of the Scottish Widows BPA book (£6bn), and advising trustees of UK pension schemes on entry into a £6 bn pass-through swap with Zurich and The Prudential Insurance Company of America.

Relevant experience

Pension Insurance Corporation on the record-breaking GBP 6.5bn bulk annuity transaction with RSA’s pension schemes.
Rothesay Life on the acquisition of the Scottish Widows bulk annuity book of business (GBP 6bn).
Numerous (re)insurer clients on (i) (cancellable and non-cancellable) longevity reinsurance transactions, covering both in-payment and deferred lives, and associated credit-support and Solvency II recognition considerations, (ii) asset-based reinsurance transactions, (iii) flow treaty arrangements and (iv) complex collateral structures.
Reinsurer client on a conversion of an intermediated longevity swap entered into between trustees of a FTSE 100 company pension scheme and the reinsurer, into a bulk annuity transaction with supporting longevity reinsurance arrangements.
An insurer on the disposal of its UK dental book, and the associated renewal rights.
Various financial institution clients on credit and stop-loss (re)insurances.
Trustees of UK pension schemes on entry into buy-in transactions and disintermediated longevity swaps, including a £6 bn pass-through swap with Zurich and The Prudential Insurance Company of America (PICA, the international reinsurance business carrier of the Prudential Financial group). The swap constituted the first pass-through longevity swap PICA has entered into where another company has acted as an intermediary.

Education

2016 – MSc/LPC, University of Law, London.
2015 – LL.B., University of Manchester, Manchester.

sectors

Insurance

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