Partner

Owen Ross

Languages

English

Social media

Owen is a partner in the financial services team and has a focus on the insurance sector. He has extensive M&A and reinsurance expertise, with particular expertise working on complex transactions for UK life insurers. Recent experience includes:

share sales
business sales, including two Part VII transfers
whole of business reinsurance
longevity swaps and funded re
multi-year asset management commitments
establishment of novel illiquid collateral holding structures, like funds withheld and ICAV

Alongside Thom Lockley, Dan Meatyard and James Geer, Owen is part of the Risk and Capital Transactions group, which has been hugely successful, becoming the largest team in the City for bespoke insurance and pensions risk transactions.

Owen has advised a range of established blue chip companies (eg Phoenix, Rothesay, PIC and Just) as well as new entrants (eg Warwick Re).

Awards & Recognitions

01 –

Quote

Owen Ross is terrific. Thoughtful and results oriented.

Legal 500

Relevant experience

Rothesay on the acquisition of a Scottish Widows GBP 6bn bulk annuity portfolio from Scottish Widows, a member of the Lloyds Banking Group. The transaction is initially structured as a reinsurance for the in-force bulk annuity portfolio, with an insurance business transfer scheme process to follow in 2025. The portfolio covers the pension benefits of c.42,000 people.
Phoenix Group on its agreement with Schroders to form Future Growth Capital, the first private market investment manager to be established in the UK to promote the objectives of the Mansion House Compact.
Phoenix Group on the simplification of its strategic partnership with abrdn, including the sale of the SLAL UK investment and platform-related products, comprising Wrap Self Invested Personal Pension, Onshore Bond and UK Trustee Investment Plan and the acquisition of the “Standard Life” brand.
MetLife on the sale of its Polish and Greek business to NN.
A global insurer to implement its post-Brexit reorganisation, including advising on two PRA authorisation applications and a related Part VII insurance business transfer.
Phoenix Group on (1) the GBP 2.9bn acquisition of Standard Life Assurance Limited from Standard Life Aberdeen plc, (2) the related long-term strategic partnership arrangements with Standard Life Aberdeen plc, (3) the acquisition of Abbey Life from Deutsche Bank AG for GBP 935m and (4) the acquisition of ReAssure from Swiss Re and MS&AD.
Funds managed by Stone Point Capital in their joint acquisition of AmTrust alongside members of the Karfunkel-Zyskind family.
TDR Capital and MGM Advantage on the sale of the MGM group of companies to Canada Life.
Mitsui Sumitomo Insurance Co., Ltd. (part of the MS&AD Group) on its takeover of Amlin for GBP 3.5bn and various internal matters, including the combination of its two Lloyd’s syndicates and the reorganisation of its Lloyd’s businesses.
Endurance Specialty Holdings in its USD 6.3bn merger with Sompo Holdings, Inc. and various reorganisations and regulatory matters.
The transferor in relation to the GBP 4bn court-sanctioned insurance business transfer of pensions and insurance assets.
Cigna on the sale of its corporate medical and health business to BUPA and the sale of its dental business to Unum.
Warwick Re on a GBP 400m quota share funded reinsurance, being Warwick Re’s inaugural transaction.

Education

2006 – MA, University of St Andrews

Practice Areas

Banking & Finance Capital Markets & Derivatives Financial Institutions Lending Employment, Labour & Pensions Pensions Financial Services & Regulation Insurance Regulatory

sectors

Insurance Insurance Corporate Life Assurance

Insights

Global Reach

UK Pay Gap Report 2024