Team size: 22

What are the most significant cases or transactions that your legal team has recently been involved in?

The last 12 months have brought significant strategic and organisational change at RSA.

Some key projects have included the £7.1bn takeover by Intact Financial Corporation (IFC) of the RSA Group, the subsequent FTSE delisting in June 2021, and related integration activities. Following the takeover, we have also actively participated in embedding a new regulated board and committee structure within RSA.

The RSA legal and cosec team has had a crucial role in separating and selling Tryg of RSA’s Scandinavian businesses, including the demerger of its Danish entities and the sale of RSA’s Middle East businesses to National Life and General Insurance Company.

Additionally, we have provided legal guidance to the ongoing £150m claim made by various former RSA shareholders under section 90A Financial Services and Markets Act 2000 concerning the financial position of RSA Ireland and RSA’s published announcements in 2013.

We have taken part in the implementation of FCA’s new product and pricing rules, including a significant review, updating of distribution, and other contractual arrangements.

Inevitably, we have had to deal with some Covid-19 business interruption claims, litigation and related reinsurance arrangements and recoveries. We have worked to simplify the corporate and financial structure of the company through capital-related projects. Key personal lines distribution arrangements with major brands have been renewed. About 200 contractual agreements with commercial lines insurance distributors have been updated and negotiated, together with supply chain agreements.

How important is choosing to work with external lawyers who align with your company’s values? Are you likely to reconsider what firms you work with based on this?

The RSA legal and cosec team embodies the values of integrity, respect, customer-driven, excellence and generosity. Working collaboratively with our business, displaying pragmatism in analysing risk, and inclusively respecting opinions are key attributes we look for in our external lawyers.

Although we do not actively select external lawyers against such criteria, it is apparent in who we build relationships with externally.

As we enter the next decade, what skills will a corporate legal team need to succeed in the modern in-house industry?

A legal team is increasingly seen as part of the business, and given a voice to contribute to decision-making while being capable of engaging with technology and considering alternative legal solutions.

There will be more focus on the team as a business contributor rather than as a pure cost centre. Future success will partly be driven by how ways of working are operationalised in relation to team engagement, budget management and deployment of tools and processes to save costs and drive efficiencies.