Advised the book running lead managers in relation to the initial public offering of up to 120,000,000 equity shares of SBI Life through an offer for sale by the State Bank of India and BNP Paribas Cardif S.A., of up to 80,000,000 equity shares and up to 40,000,000 equity shares, respectively.
Advised client in relation to the proposed initial public offering of up to 61,200,000 equity shares of Reliance Nippon Asset Management Limited.
Advised Binny Bansal (family office) and Intact Ventures in relation to minority investments (10.62% and 2.71% respectively) in the Series C funding round in Acko Technology and Services Private Limited which in turn holds 100% share capital in Acko General Insurance Limited for total transaction value of approx. INR 455 crores (USD 65 million).
Advising in relation to acquisition of 26% stake in Religare Health Insurance Company Limited.
Advised in relation to the initial public offer of 181,341,058 equity shares of ICICI Prudential Life Insurance Company Limited through an offer for sale by ICICI Bank Limited for USD 910 million.
Advised in relation to acquisition of a 1.95% stake in SBI Life Insurance Company Limited, overall deal value being USD 270 million approximately.
Advised in relation to certain Indian insurance regulatory aspects and in relation to certain minority investments in India.
Advised the Book Running Lead Managers in relation to the Initial Public Offering (IPO) by GIC Re for USD 1.73 billion approximately.
Advised in relation to acquisition of 1.59% stake in ICICI Lombard General Insurance Company Limited from FAL Corporation.
Our market-leading insurance practice provides the full spectrum of legal services to insurers, reinsurers, intermediaries, investment banks, investors and policyholders. We have in-depth knowledge and understanding of the legal, regulatory and commercial issues faced by the insurance industry in India and regularly act on the cutting edge of Indian insurance work.
Our team regularly advises on complex M&A and PE transactions in the insurance sector, as part of growth, market entry or consolidation strategies (or disposals as investors or partners exiting their investments), regulatory matters, insurance registrations, distribution channels and networks, fund raising (public offerings and debt issuances), restructuring, litigation and digital platforms.
We have been recognised as “a go-to firm for insurance matters” in India by Legal 500, which also cites a number of our partners as market leaders in this sector.
We are a trusted adviser to several leading international insurers and reinsurers, private equity and sovereign funds and large Indian corporate groups active in this sector. We have a demonstrated history of acting on some of the most complicated and diverse insurance engagements. Our expertise includes the structuring and execution of market entry and exit strategies and insurance registration; high-value M&A transactions, including cross-border transactions; private equity transactions (acquisition of controlling stakes as well as minority investments and disposals/ exits thereafter); group reorganisations and restructurings; distribution arrangements, including bank-assurance arrangements and digital platforms; outsourcing arrangements; regulatory issues including liaising with the Insurance regulator; initial public offerings; debt issuances; and high-value litigations / disputes.
Our in-depth sector knowledge and understanding of the regulatory dynamics together with our innovative and solution-oriented approach allows us to provide robust, focused, practical and innovative solutions for our clients, distinguishing us from our competition in India. In particular, our clients benefit from the breadth of our transactional, advisory and regulatory experience, which means that we can provide clients with perspective on the most complex issues, and our understanding of our clients’ commercial goals, which enables us to deliver a high-quality and responsive service to help our clients achieve their objectives.