Charles Rix
PartnerCharles is a partner within the London Corporate Group of DLA Piper with nearly 30 years' experience of the insurance industry across both life and non-life businesses covering domestic and cross-border M&A, Part VII transfers, reinsurance, outsourcing, business restructuring using schemes of arrangement and regulatory advice. He has a particular expertise in relation to with-profits businesses
He was previously Global Head of the Insurance Sector Group and UK Head of M&A at another international law firm where he was a partner for nearly 23 years. He was also the editor of two editions of the Practitioner's Guide to the Regulation of Insurance (Sweet & Maxwell 2014 and 2020), co-authoring two chapters in the latest edition on the regulation of life insurance and on Part VII transfers and solvent schemes of arrangement.
Charles is ranked in Chambers UK as a Senior Statesman and in the Hall of Fame for Legal 500 for corporate and regulatory insurance advice.
EXPERIENCE
- Canada Life on the sale of its GBP 2 billion legacy business to Scottish Friendly.*
- Royal London on the restructuring of pension policies by way of a scheme of arrangement to give customers better access to pension freedoms.*
- Prudential on its de-merger of its Hong Kong branch business with parallel court and regulatory processes in the UK and in Hong Kong.*
- M&G on the partial buy-out of shareholder transfers from its 90:10 with-profits business and on the merger of its Scottish Amicable Fund with its main with-profits fund.*
- Pool Re (which supports the UK's terrorism insurance market) on its strategic review and re-negotiation of its relationship with HM Treasury.*
- A bidder for LV= in relation to its proposed demutualisation.*
- Mapfre on its acquisition of Direct Line’s German and Italian motor and household insurance businesses.*
- Paternoster, the pension buy-out specialist, on its sale to Goldman Sachs.*
- AXA on various M&A projects, including the sale of its Denplan business to SimplyHealth.*
- Prudential on the integration of its life insurance businesses by way of a series of Part VII transfers, and on proposals to restructure its with-profits business including by way of a reattribution of inherited estate. Advice on Prudential’s PruFund with-profits product.*
- Phoenix on the integration of its life insurance businesses by way of a series of Part VII transfers and the amendment and simplification of various demutualisation schemes, various M&A projects to acquire new business and dispose of annuity businesses, proposals to restructure its with-profits businesses by way of schemes of arrangement including its GAR compromise scheme.*
- Equitable Life on its scheme of arrangement to compromise guaranteed annuity rates, various sales of annuity businesses to Prudential and Canada Life, its run-off and distribution strategy, and the structure of its ultimate sale and demutualisation.*
- Qatar Insurance Company on its acquisition of the Lloyd’s syndicate, Antares.*
- Santander on the restructuring of its UK group by way of a banking business Part VII transfer.*
- American Express on the disposal of a number of its Middle East businesses.*
* dentones experience at a previous firm
- English
- Pembroke College, Oxford University – Law
