James Bateson

Global Head of Financial institutions
Norton Rose Fulbright LLP

London
United Kingdom
T:+44 20 7444 3528
London
United Kingdom
T:+44 20 7444 3528
James Bateson

James Bateson

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Biography

James Bateson is the global head of our financial institutions and insurance group. James has more than 30 years' experience of advising both domestic and international insurers on corporate, regulatory and transactional matters.

James is an acknowledged industry leader for cross-border M&A and restructuring work in the insurance and financial services sectors. He is regularly recommended in legal directories as a leading expert and eminent practitioner in the insurance field.

James is author of the chapter on authorisation in the Practitioners Guide to the Financial Services and Markets Act and is a regular public speaker and media commentator.


Professional experience

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  • Solicitor, qualified in England & Wales
  • Advised Munich Re on the sale of MSP Underwriting Limited and its subsidiaries to US insurer Cincinnati Financial Corporation
  • Advised the Karfunkel-Zyskind Family on: the UK regulatory aspects of the acquisition of an entity formed by private equity funds managed by Stone Point Capital LLC; and its acquisition of approximately 45 percent of the company's issued and outstanding common shares that the Karfunkel-Zyskind Family and certain of its affiliates and related parties did not already own or control. The transaction values the fully diluted equity of the company at approximately US$2.95bn, excluding the company's outstanding preferred stock.
  • Advised Renaissance Re on the US$1.5bn acquisition of Tokio Marine's reinsurance units, including Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited
  • Advised a major European insurance and reinsurance group on its Brexit planning, including: advising on the legal and regulatory aspects of its corporate structure; governance; capital; target operating model; the conduct of life and non-life; direct and reinsurance business (including business in run off); its arrangements with reinsurers (including intra-group reinsurance and concentration limits); group servicing arrangements; and commercial arrangements with other contracting third parties such as claims handling and business administration
  • Advised a new US$3bn specialty insurance carrier to be located in Bermuda and London on all aspects of its establishment, including its licensing application in Bermuda and London, and the conduct of its business globally, including post-Brexit in Europe
  • Advised a major US-based specialty insurance group on its Brexit planning, including legal and regulatory advice on a multi-jurisdictional analysis of the future location of a new insurance carrier, the future target operating model including intra group arrangements, its arrangements with Lloyd's of London, arrangements with cover holders (including cover holders located in the US) and service companies, claims handling, conduct of business and other business arrangements
  • Acted for XLRe on the £1.6bn restructuring of its European operations including the Part VII Transfer of its entire non-life business to XLRe Ireland
  • Advised Direct Line Group on the restructuring of its insurance operations through a Part VII transfer, affecting approximately 21 million policyholders