Clifford Chance announces that partners Gary Boss (New York) and Ashley Prebble (London) have been appointed as co-heads of the firm's Global Insurance Group. With nearly 50 years of experience in the insurance market between them, Ashley and Gary lead the firm's commitment to maintaining a global market leading position in the insurance market as the team continues to support leading insurers and reinsurers on complex transactions, disputes, financing, regulatory and commercial matters across the world's main financial centers.
Clifford Chance Global Head of Corporate, Guy Norman, comments: “Gary and Ashley have shown tremendous dedication and commitment to the sector and the firm and I am very excited for them to be taking on these joint roles. Their combined expertise and perspectives from both sides of the Atlantic will underpin our focus on delivering the highest quality advice to clients on their global operations.
"This has been an incredibly busy and successful year for the Insurance group, set against the backdrop of uncertainty surrounding Brexit and widespread instability caused by COVID-19. We remain trusted advisers to insurance industry leaders and have advised on some of the largest and most significant deals in the sector. This appointment will ensure we remain credible for our global reach, with clients knowing that they can get the highest-class standard with no international boundaries."
Prebble adds: "As head of the firm's Financial Institutions Group in London, working with insurers, reinsurers and intermediaries has been at the heart of my professional career. We have supported important market initiatives and helped the industry respond to political and regulatory change, such as Brexit. I look forward to combining my passion for this sector with this global role as we work alongside our clients on the opportunities and challenges of the future, notably the acknowledgement that ESG principles need to be at the heart of the insurance sector."
Boss offers: "Our vision as a group is to continue to move with our clients to leading and innovative positions in the market. Our clients, among the most successful insurers and financial investors in the industry, are allowing us to innovate and work alongside them in navigating a pace of change not seen previously. We have the most talented and globally integrated group of lawyers in the industry driving us to this goal. Our future has never been more exciting or interesting. I have great enthusiasm and confidence in our team, both in the US and globally, and look forward to building on the tremendous accomplishments of the group that Katherine has so ably led before."
Clifford Chance's Global Insurance Group advises on complex transactions, disputes, financing, regulatory and commercial matters. With more than 200 lawyers, the group provides first class domestic and cross-border advice across the globe. Recent examples of work led by Gary or Ashley include advising:
- Watford Holdings, a Bermuda-based multi-line reinsurer, on its US$700 million acquisition by Arch Capital Group Ltd. This followed earlier work advising Watford on its award-winning and first-of-its-kind formation and US$1.13 billion capital raise. We have subsequently advised on the formation of 11 insurance and reinsurance companies with an aggregate value of over US$14 billion of capital raised
- Inigo group on its launch and US$800 million capital raise – the largest Lloyd's market insurance launch for a decade
- Chubb, on its Brexit-related reorganization involving the transfer of its insurance subsidiaries from the UK to France (converting both companies to Societas Europaea) and effecting a redomicile to France
- Sedgwick on multiple M&A transactions including the recent acquisition of Stericycle's Expert Solutions service line, Expert Solutions.
- Armour Re Ltd., a Bermuda-based P&C legacy reinsurer, on its sale to Premia Holdings Ltd.