Philip helps clients do business by identifying and solving the insurance and reinsurance issues in corporate transactions.
Philip also advises financial institutions, general and life insurers, reinsurers and superannuation funds on regulatory financial services and prudential compliance.
Additionally, Philip has a broad background in insurance and reinsurance work that extends to policy drafting, interpretation, benchmarking, placement and coverage work.
Philip’s experience helps clients involved in M&A, equity capital markets and structured financing transactions to ensure there is an effective continuation and preservation of insurance cover. He is also experienced in warranty & indemnity insurance.
Philip has acted for a number of clients involved in purchasing and selling life insurance businesses in Australia and is familiar with the insurance and regulatory issues involved, including distribution agreements.
Philip has a particular interest in reinsurance law and regularly advises clients on drafting, negotiating and benchmarking treaty processes, including renewals, as well as prudential compliance. He has been involved in many of the (so far) limited number of value-in-force reinsurance treaties that are becoming commonly used as a source of finance and capital relief.
Philip also has recent experience in scheme transfers of general and life insurance businesses.
Philip’s experience is recognised in the Legal 500 Australia Guide 2021, where he is listed as a Rising Star for insurance law.
Philip’s recent experience includes advising:
- Clients on financial services regulatory compliance in the context of the ongoing Banking Royal Commission
- Bank of Queensland on the sale of its life and general insurance businesses to Freedom Insurance Group
- Two international life insurers on their purchase of the wealth businesses of two major Australian banks
- Munich Re on an intra-group scheme transfer of its general insurance business
- A major international reinsurer on a value-in-force quota share reinsurance treaty with a large domestic life insurance business
Philip holds a Bachelor of Law with Honours and a post-graduate diploma in legal practice. He is admitted to practice in New South Wales and in England & Wales.