Ben Lyon

Mr. Lyon has extensive experience working on insurance and asset management-related public and private mergers, acquisitions and joint ventures, reinsurance transactions, regulatory matters and investigations, corporate governance issues, debt and equity capital markets transactions and other corporate matters in the U.K. and internationally. He regularly advises reinsurers, asset managers, private equity clients and investment banks.

Mr. Lyon has been recognised as a leading insurance lawyer in Chambers UK and The Legal 500 UK, which also recognises Mr. Lyon for his regulatory work. The Legal 500 UK has noted that he is “particularly strong commercially with an excellent transactional insurance and related network and appreciation of the key commercial drivers of a transaction” and “one of the very few attorneys with a deep understanding of both M&A and insurance transactions.” In Chambers UK, a client noted that he is “an excellent commercial lawyer who is very sophisticated in his analysis of the key commercial drivers.”

Since joining Skadden, his representations include advising:

• Oak Reinsurance in the establishment of a new private equity-backed Lloyd’s of London syndicate
• Zurich Insurance Group (Switzerland) in its $600 million acquisition of the global personal travel insurance and assistance business of American International Group, Inc.
• BMS Group on its $579 million acquisition of David Roberts & Partners
• B-FLEXION on the merger of its portfolio company Securis Investment Partners LLP with Twelve Capital AG
• Staysure Group on its debt and equity investment from ICG Europe Mid-Market Fund II SCSP

Prior to joining Skadden, Mr. Lyon worked as a senior international counsel at a major global law firm for over 12 years.

His representations prior to joining Skadden include advising:

Strategic M&A

• Nuveen, the investment manager of TIAA, on its acquisition of a controlling interest in Arcmont Asset Management, a private debt management firm
• Covea on its $9 billion acquisition of Partner Re, the largest deal in the insurance sector in 2021
• GreyCastle on its:
  • sale to Monument Re, which involved a complex U.K./Bermuda life insurance structure
  • $570 million acquisition, backed by a consortium of investors, of the runoff life reinsurance operations of XL Group

Lloyd’s of London M&A

• Asta Capital, the market-leading third-party managing agent at Lloyd’s, and its shareholders on Asta’s sale to Davies Group
• Elliott Management Corporation, Wand Partners and Paraline Group on the investment by Bain Capital Credit in Beat Capital
• AmTrust Financial Services on the merger of its Lloyd’s business with Canopius. The transaction created a top-five insurer at Lloyd’s with combined premiums of approximately $2.2 billion
• Canada Pension Plan Investment Board on its $1.1 billion acquisition of Ascot from American International Group
• Global Atlantic, a retirement and life insurance company, on the sale of Ariel Re, its Bermuda and Lloyd’s insurance and reinsurance businesses, to BTG Banco Pactual

Insurtech

• MTech Capital on its various U.K. and European venture capital investments

Capital Raising

• a global private equity fund on its investment into a global reinsurer’s Lloyd’s of London platform through the provision of funds at Lloyd’s for the relevant syndicate that used London Bridge 2 PCC Limited, an innovative insurance risk transformation structure
• Helios Underwriting, a unique investment vehicle that acquires and consolidates underwriting capacity at Lloyd’s, on its placement of, and subscription for, new ordinary shares

Reinsurance/Legacy Transactions

• Canopius, a Centerbridge Partners portfolio company and a leading global specialty reinsurer, on its $780 million loss portfolio transfer agreement with RiverStone International
• Compre, a Bermuda-headquartered international legacy group, on various structured reinsurance transactions and its entry into the Lloyd’s RITC market

Mr. Lyon is a frequent author and speaker on legal developments that impact the insurance industry. He has been published in several industry publications, including The Insurer, Private Equity International and Insurance Day. He also has co-authored a number of chapters in industry handbooks, including the U.K. chapters in the Insurance Sc Reinsurance Practice Guide published by Chambers and Partners and the Insurance & Reinsurance guides published by Lexology Getting the Deal Through and Thomson Reuters Practical Law Global Guides series.

Mr. Lyon is a member of the U.K. Chartered Insurance Institute and the British Insurance Law Association