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. Counsel Alastair Wilson gave tax advice to the management team in relation to the structuring aspects of the venture.
