Noleen John

Norton Rose Fulbright LLP

United Kingdom
T:+44 20 7444 3197
United Kingdom
T:+44 20 7444 3197

Noleen John


Related services and key industries


Noleen John is a corporate and regulatory insurance lawyer based in London.

Noleen was formerly Head of AXA UK's Group Legal Department and General Counsel for the AXA UK life and pensions business. She has extensive experience of working in house in an insurance company, and her focus area is life assurance law and regulation.

Whilst working as General Counsel for AXA UK's life and pensions business, Noleen was a member of the ABI Life legal panel. She is currently a member of the City of London Law Society and the British Insurance Lawyers Association.

Noleen is co-editor of the leading industry textbook, Houseman, the Law of Life Assurance, now in its 15th edition and author of the chapters on financial services regulation, with-profits, prudential requirements/Solvency II and reinsurance.

Noleen has experience of most legal and regulatory issues relating to the day to day running and management of insurance companies. Noleen often advises in connection with the PRA's prudential requirements (which now include the Solvency II rules on capital and investments), the regulatory aspects of with profits business, outsourcing requirements, the sale of offshore insurance bonds and unfair terms in insurance contracts.


Professional experience

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  • Advising in connection with various collateralised reinsurance agreements including those covering longevity, specialist underwriting and lapse risks.
  • Reviewing a portfolio of existing reinsurance contracts for compliance with Solvency II requirements for risk mitigation techniques.
  • Advising the Trustee of the Merchant Navy Officers Pension Fund on a £1.5 billion of longevity risk reinsurance with Pacific Life Re.
  • Advising New Ireland Assurance Company plc on the longevity reinsurance of £140 million of its existing annuity business as well as a proportion of its future business, with Legal & General plc.
  • Advising Discovery in relation to the purchase of Prudential's share in their life and health joint venture  businesses (PruHealth and PruProtect).
  • Advising HSBC Life in relation to its disposal of £4.2bn of UK Pensions Business to Admin Re and the related reinsurance and subsequent Part VII transfer scheme.
  • AXA in relation to its £2.75 billion disposal to Friends Provident Holdings (UK) Ltd of certain of its UK Life businesses (including traditional with-profits life and individual pensions business, corporate pensions and annuities business) and the subsequent Part VII transfer schemes
  • Advising in relation to ring-fenced funds (with-profits and matching adjustment portfolio) requirements under Solvency II (including reinsurance of such obligations) and contract boundary queries
  • Advising on the ability to make changes to charges on  with-profits business and the use of particular derivatives strategies in with-profits sub-funds
  • Advising in connection with investment mandates and reporting obligations under Solvency II.
  • Advising in relation to the categorisation of investments under the Solvency II rules and application of the look through requirement
  • Advising in connection with derivatives and clearing agreements for compliance with Solvency II and EMIR requirements.
  • Regulatory advice in relation to corporate and product governance issues .
  • Advising the nominated policyholder advocate on the proposed reattribution of Prudential's inherited estate by way of scheme of arrangement over a period of over 15 months which involved a detailed review of the structure and operation of a number of different with-profits sub-funds and the impact on various different groups of policyholders. 
  • Advising Rothesay Life in relation to an outsourcing contract with Capita to replace an existing contract (change of Capita entity) and to enable an extension of the outsourced services to cover a new book of business
  • Advising Old Mutual Wealth, which includes Skandia in the UK, on its business process outsourcing agreement for administration activities in a 20 year deal with IT and outsourcing firm IFDS.
  • Friends Life on the largest UK life and pensions outsourcing worth over £1.4billion. The deal involved the outsourcing of its IT and customer service functions to TCS' UK subsidiary Diligenta.
  • Advising LV= in relation to the outsourcing of a general insurance policy administration system including its underwriting engine and the technology arrangements relating to distribution of the relevant products.
  • Advising LV= on an outsourcing of IT aspects (including data warehousing) of the operation of its annuity portal.
  • Advising a multinational insurance company on the renegotiation of its business process outsourcing arrangement with another life group.  The renegotiation involved refining and redefining a six-year services arrangement relating to the administration of the closed book heritage business to reflect updated requirements and current practices within the respective organisations.
  • .Advising various insurers on a wide range of regulatory issues, including Unfair Contract Terms in Consumer Contracts, advice on Part 4A permissions, financial promotions and policy wordings.
  • Advising in relation to offshore life bonds and the personal portfolio bond rules.