10 November 2005
Standard Life Healthcare Limited has appointed the Financial Services Division of one of Bristol's leading commercial law firms on the purchase of the private medical insurance (PMI) business of FirstAssist Insurance Services Limited.
The Beachcroft Wansbroughs team is advising Standard Life on the sale and purchase of FirstAssist, which is subject to FSA and court approval, and the formal portfolio transfer of the insurance risk to Standard Life Healthcare, which will be completed in the first quarter of 2006.
Michael Bothamley, Regional Senior Partner of Beachcroft Wansbroughs' Bristol office, said: "We are delighted to have been appointed by Standard Life Healthcare, a significant player in the private medical insurance market and one of the biggest brands in UK financial services. We are providing them with a range of corporate and regulatory advice to ensure the seamless transfer of the FirstAssist PMI business to Standard Life in the New Year."
Mike Hall, Standard Life Healthcare's Chief Executive, said: "This is a key purchase for us as we seek to consolidate our position in the private medical insurance market. It is, therefore, important that we are fully cognisant of the regulatory and legal environment in which we are operating. Beachcroft Wansbroughs is well placed to provide such advice."
Beachcroft Wansbroughs launched the firm's national Financial Services Division 18 months ago to provide an integrated services approach, combining 'industry aware' legal advice, underpinned by extensive experience of the inner workings of the financial services industry. The service is aimed at tackling the challenges facing organisations seeking to operate with increasing efficiency in a highly regulated and competitive financial services market.
For more information, please contact:
Debbie Garritty, Bell Pottinger
Tel: 01625 506411
Beachcroft Wansbroughs is one of the largest commercial law firms in the UK. With over 1,300 employees, including 730 professional staff, it provides fully integrated legal advice and litigation services from its offices in Bristol, Birmingham, Brussels, Leeds, London, Manchester and Winchester. Its customer-focused service proposition reflects both the depth of expertise and the approachable nature of the firm and its partners. It is one of the largest law firms in the country to obtain the 'Investors in People' award across all of its offices and was recently shortlisted for Law Firm of the Year in the 2005 Legal Business Awards, as well as being a finalist for The Lawyer's Employment Team of the Year Award.
The Bristol team currently includes 34 partners and a further 375 staff. Its partners have particular expertise and experience in commercial property, public sector, PFI/PPP projects, health, IT, construction, litigation, financial services and employment law.
For further information please visit our website http://www.bwlaw.co.uk or call 0117 918 2000