Defendant insurance firm Plexus is looking for a new investor after a funding deal sought earlier this year fell apart. The firm’s backer Access Capital had provided the firm with an initial investment of £15m, of which £1m was put in by Origin Equity, to buy shares in Plexus in 2019. An agreement was then […]
DAC Beachcroft is in talks with a private equity fund in order to sell off one-third of the firm. The talks are being held with Limerston Capital over buying its Claims Solutions Group (CSG) following a strategic review. London-based Limerston Captial has over £300m under management and targets UK businesses valued at between £20m to […]
Defendant insurance firm Plexus is to receive further investment from its private equity backer, as the firm seeks to move past an 18-month-long investigation into financial irregularities. Since 2019, the firm’s backer has been Access Capital. Access provided an initial investment of £15m, of which £1m was put in by Origin Equity, to buy shares […]
DAC Beachcroft has expanded into Italy by opening two new offices in Milan and Rome. The venture is fully operative as of today (1 February 2023) and the firm has swiped an insurance team from Milan-headquartered Advant NCTM to kick things off. Partners Anthony Perotto, Guido Foglia and Michele Zucca have taken the leap and […]
Royal London has hired AXA’s UK group regulatory and compliance director as its new general counsel (GC). Julie Whitehead has made the move after 17 years with AXA, beginning her career at the insurance giant in 2005 as senior counsel. In total, Whitehead brings with her 25 years of financial services experience, having previously worked […]
Aviva has reduced its defendant legal panel from nine firms to a modest four, in its first comprehensive review in ten years. The four firms to have made it onto the list are DAC Beachcroft, Clyde & Co, DWF and Kennedys Law. The smaller panel is part of a strategy to streamline Aviva’s general insurance […]
Insurance expansion is continuing at Clyde & Co as the firm has recruited a product liability team from rival DWF. The Lawyer can reveal that the departing group of DWF lawyers is led by two London partners: Peter Barnes and Charlotte Kelly. Barnes, a dual-qualified solicitor and barrister, leaves the listed law firm nearly seven […]
Clyde & Co’s former senior partner is leaving the firm, The Lawyer has learnt. Simon Konsta will leave Clydes for DAC Beachcroft next year. Konsta was the senior partner of Barlow Lyde & Gilbert (BLG) from 2008 until Clydes merged with the insurance firm in 2011. That same year, Konsta was appointed Clydes’ global head […]
FTSE 100 insurance giant Aviva is carrying out a panel review as the roster’s three-year term comes to an end. Its last review was undertaken in 2019 after the company decided a traditional review had not been necessary in 2016. The roster is split in two between the group panel, to which Allen & Overy, […]
There has been an influx of business interruption (BI) cases filed since the Covid-19 insurance case judgment was handed down by the Supreme Court in 2021, with a lot of the new claims addressing some gaps in that conclusion. The outcome of Covid-19 played havoc on business owners, especially those having to trawl through their […]
“I acted for a client 20-odd years ago that went from 50 firms on its panel to 12, and we thought that was absolutely revolutionary,” says BLM’s legacy senior partner Matthew Harrington. “Now clients are looking at panel sizes, certainly in the general insurance market, of two to three firms.” And that, in a nutshell, […]
Dentons has lost a corporate partner duo to Eversheds Sutherland, including its former global chair of its insurance group. Martin Mankabady has made the move from Dentons to Eversheds along with fellow partner Adriana Cotter. Mankabady, who led Dentons’ insurance group, had been at the firm for over six years, having joined from Clyde & […]