London Office Advises Newly Launched Insurer Paternoster
LONDON (26 April 2006) — The law firm of McDermott Will & Emery UK LLP advised Paternoster, the first life insurer to be launched in the UK for 30 years, on all aspects of its start up. This start up has secured £500 million of equity financing from a consortium of institutions led by Deutsche Bank AG and Eton Park International LLP.
Upon completion of this financing and receipt of approval by the Financial Services Authority as a regulated insurance company, Paternoster will be positioned to offer tailored solutions to the £1,000 billion UK defined pension marketplace.
The McDermott Will & Emery team included . Employment advice was provided by partner David Dalgarno and associate Sharon Tan, while intellectual property associate Rohan Massey gave advice on the assimilation of intellectual property rights.
