Insurance field has also been one of the Firm's expertise. The Firm advises and assists insurance companies on their legal issues and preparation of requisite documents, including bank assurance polices, devising policies and procedures in light of the Insurance Ordinance and Rules and Regulations made thereunder, including due diligence of an insurance company offered for sale and provided legal services on intended acquisition of controlling shares of an insurance company by another insurance company under the take-overs law and all documentation relating thereto, as well as successfully converted a prestigious listed insurance company into an investment house.

Selected Transactions

• Ground work for the creation of the Centralized Information Sharing Solutions for Insurance Industry (‘CISSII’) as well as review of the proposed regulations to be issued in this regard and drafting of the participant agreements proposed to be executed between participant insurance companies and the CISSII framework operator for information sharing.
• Conversion of a listed insurance company into an investment house, which involved surrender of insurance license, alteration of the memorandum of association and management and cancellation/transfers of outstanding insurance policies underwritten by the insurance company.
• Drafting of the bancassurance policies and agreement for a life assurance company under the prevalent bancassurance regulations.
• Sale side advisory of a takaful company to an off-shore buyer.
• Due Diligence for a proposed takeover of an insurance company by a local conglomerate. The exercise involved inter alia extensive analysis of the outstanding policies and potential claims and liabilities of the target company.