Geoffrey has experience of acquisitions, disposals, demutualisations, high value/longevity reinsurance, regulatory capital, securitisation and other transactions in the insurance sector, together with extensive experience of prudential and other regulatory advice to insurers and reinsurers.
He has provided legal and regulatory advice on a broad range of issues arising from clients' with-profits business. He also has particular experience of transfers of insurance business, having led the firm's team advising on more than twenty five such transfers.
His experience includes:
- Tryg, a Danish insurance company, on its £7.2 billion recommended takeover (with Intact Financial Corporation) of RSA Insurance Group PLC
- ReAssure on the Part VII transfer of the Mature Savings Business from Legal & General, which transferred approximately £30bn of assets and over 900,000 policies
- Association of British Insurers (ABI) on its successful intervention to the Court of Appeal regarding Mr Justice Snowden's refusal to sanction the Rothesay Life / Prudential Part VII transfer
- Canada Life on its longevity swap reinsurance covering approximately £1.4bn of pension liabilities in UBS's defined-benefit pension scheme in the UK
- a major international reinsurer on its ground-breaking €490 million reinsurance (with Deutsche Bank) of Santander's Spanish and Portuguese life insurance business, the first of its kind in Spain and Portugal
- Lloyds Banking Group on the reorganisation of its life insurance businesses by way of Part VII transfer, involving the transfer of the business of seven insurers into a single vehicle
- a leading UK life mutual on all aspects of its response to the changes to the FSA's with-profits regulatory regime
He is the author of the chapter on Insurance Business Transfers in A Practitioner's Guide to the FSA Regulation of Insurance (5th edition, City & Financial Publishing, 2014) and joint Consulting Editor of "A Practitioner's Guide to Solvency II" (Sweet & Maxwell, 2016).
Geoffrey is ranked in Band 1 for Non-contentious Insurance in Chambers UK and is listed in Legal 500’s Hall of Fame for Insurance: Corporate and Regulatory. Clients describe him as "one of the top lawyers in the space, particularly on life transactions” and say “Geoffrey Maddock is a star performer with decades of experience, and with the resulting assurance and versatility, not to mention unflappability.”