Insurance & Reinsurance
Stephen has 25 years’ experience of corporate, finance and regulatory work in the Lloyd’s, London and international insurance markets. He is a well known practitioner in the Lloyd’s market.
Direct Lines
+44 (0) 20 7876 6119 stephen.browning@clydeco.comMain Office
London, The St Botolph Building
+44 (0) 20 7876 5000 +44 (0) 20 7876 5111Regions covered
Full Profile
Stephen advises on start-ups, reorganisations, acquisitions and disposals in the insurance sector and regularly advises Lloyd’s underwriting businesses on a wide variety of matters, including transactions with commercial banks and reinsurers for the provision of funds at Lloyd’s, consortium underwriting arrangements and ‘turnkey’ management arrangements.
Stephen is described in a recent edition of Chambers as “capable of taking a ‘high-level view,’ but is also felt to have ‘a real grip on the underlying business matters. He has a formidable standing in the Lloyd's market” and in Legal 500 UK 2011 as “a ‘first-choice adviser’ with ‘extensive expertise’, particularly regarding the London and Lloyd’s market”.
He is featured as a leading individual in insurance: corporate and regulatory in Legal 500 UK 2011 and as an expert in insurance in Legal Business’ Legal Experts 2011.
Experience
- Advising a global insurance and reinsurance group on its establishment of a Lloyd’s syndicate
- Advising a Lloyd’s underwriting business on the making of a capacity offer to the non-aligned members of its managed syndicate (having previously advised on more than 30 such offers)
- Advising on two Lloyd’s syndicate mergers
- Advising a Bermudan insurer on the establishment and authorisation of a UK branch
- Acting for various clients on capital reductions for a variety of purposes (including elimination of losses, release of surplus capital and enhancement of distributable reserves)
- Advising various Lloyd’s businesses on numerous quota share, excess of loss, stop loss and reinsurance-to-close arrangements and bank facilities for the provision of funds at Lloyd’s
- Acting for the shareholders of an insurance fund management business on a trade sale of their shares
- Acting for FirstCity Partnership Limited on the sale of its business to Arthur J. Gallagher & Co. (UK) Limited
- Acting for Highway on the first Part VII transfer of non-life business from a Lloyd’s Syndicate to an insurance company
- Acting for the management team and the group companies on the start up of Ark Syndicate Management Limited and Lloyd’s Syndicate 4020