Tom is a partner in our Corporate Group and a member of our Financial Institutions Group. He has a broad corporate, commercial and M&A practice supporting insurers, asset managers and other financial institutions. In particular, he does a significant amount of work in the insurance sector including M&A, corporate reorganisations, insurance and reinsurance arrangements, de-risking transactions, insurance regulation (including Solvency II) and general corporate advice.
Tom is recognised as 'Up and Coming' in Chambers ('Insurance: Non-Contentious') and a ‘Next Generation Partner’ in Legal 500 ('Insurance: Corporate and Regulatory’).
He has advised:
- Aviva on:
- the acquisition of AIG Life Limited from Corebridge Financial, Inc. for £460 million
- its strategic response to COVID-19 business interruption matters, including the FCA Test Case
- the £5bn de-risking of the Aviva Staff Pension Scheme
- Legal & General on:
- a number of risk transfer transactions, including the £4.8 billion full buy-in for the Boots Pension Scheme and a c.£310 million buy-in with Reuters Supplementary Pension Scheme
- a number of longevity and funded reinsurance transactions
- the sale of its mature savings business to Swiss Re for £650 million
- Prudential on:
- the demerger of its UK & Europe business (M&G Prudential), resulting in two separately-listed companies
- its US$2bn share buyback programme
- Allianz on its acquisition of Legal & General Insurance Limited, the general insurance business of Legal & General Group
- Pollen Street Capital and its portfolio company Markerstudy on transactions in the general insurance sector, including the acquisitions of BGL Insurance, Lloyd’s broker Clegg Gifford & Co and insurer Tradex
- a number of other parties on significant risk transfer transactions, including
- Intact and RSA Group on the £6.5 billion derisking of RSA’s two main defined benefit pension schemes with PIC
- Tata Steel on derisking transactions totalling £7.5 billion entered into by the British Steel Pension Scheme with Legal & General
- Whitbread plc on the £680 million derisking of the Whitbread Group Pension Fund with Standard Life
- DLUHC on the self-remediation terms to be entered into by major residential property developers and DLUHC
“Thomas Peacock is an extremely intelligent and clear advisor. He is an excellent draftsman and a very technically adept lawyer.” Legal 500 2024