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Kate McInerney

Partner

Email

kate.mcinerney@aoshearman.com

Phone

+44 203 088 4459

Offices

London

V-CARD
Kate is an insurance specialist with extensive transactional and advisory experience in the sector. 

Kate’s clients include insurers, reinsurers, pension scheme trustees, sponsoring employers and banks. As well as having an outstanding record in longevity de-risking, Kate has worked on some of the most significant M&A transactions in the insurance sector in recent years. Kate was seconded to the UK Financial Services Authority for a year, where she was part of a team advising policy makers on the UK implementation of Solvency II.

Kate was awarded ‘Rising Star’ for Corporate at the Euromoney Women in Business Law Awards 2017, and is ranked as an ‘Associate to watch’ by Chambers UK 2018. Her team won Legal 500 Insurance (Specialism) Team of the Year (UK) 2018.

Clients quoted in Chambers (2019) say the following about Kate: “She’s very good, and she’s very sharp. She’s quite a presence; you don’t forget her. She’s very sharp, and she’s prepared to battle for her client good and proper. The fact that she’s Aussie might help.”

“She is extremely able, technically very strong, a tough negotiator, and good fun to work with.”

“She’s very bright; she’s also very friendly, and has a great grip on the details of everything. She thinks ahead and thinks forward, and she’s also very collaborative about it, and isn’t aggressive.”

Expertise

Industries

Experience

Representative matters

  • Largest bulk annuity transaction ever completed: The Trustees of the Airways Pension Scheme on a GBP4.4bn buy-in with Legal & General.
  • A global insurance company on the GBP12bn sale of a UK annuity portfolio to Rothesay Life and successful Court of Appeal challenge.
  • Scottish Equitable on the disposal of GBP9.6bn of annuities to Rothesay Life and Legal & General.
  • Scottish Equitable on the acquisition of Blackrock's UK defined contribution platform and the administration business comprising approximately GBP12bn of assets and 35,000 customers.
  • A global financial services provider on its GBP1bn retail insurance joint venture with Liverpool Victoria Friendly Society Limited.
  • A multinational insurance company on its GBP5.6bn recommended all-share acquisition of Friends Life Group.
  • A multinational insurance company on its GBP600m collateralised bulk annuity insurance policy with Pearson Pension Trustee Limited.
  • A multinational insurance company on its GPB900m collateralised bulk annuity insurance policy with Marks & Spencer Pension Trustee Limited.
  • A leading UK consumer business on its GBP185m sale of insurance underwriting business, CIS General Insurance Limited to Markerstudy.
  • MS&AD Insurance Group Holdings Inc on its investment in ReAssure Jersey One Limited, a subsidiary of Swiss Re Life Capital.
  • The trustees of the ICI Pension Fund on its bulk annuity “buy-in” policies with Prudential, Legal & General and Scottish Widows covering GBP4.2bn of pensioner liabilities in the ICI Pension Fund.
  • The trustees of the BT pension scheme on a GBP16bn longevity swap with the Prudential Insurance Corporation of America. This was the largest longevity insurance and reinsurance agreement to date, and the first to include the establishment of an insurance company by a pension scheme.
  • Guardian Financial Services on the acquisition of approximately GBP5bn of the UK annuity business of Phoenix Group by way of collateralised reinsurance and subsequent Part VII transfer.

Pro bono

  • Advised Social Finance Limited in connection with the insurance of a social impact bond.

Speaking Engagements

ERA Annual Conference on EU Law in the Insurance Sector 2018 - Brexit implications for insurers (passporting)

Leadership Positions And Professional Affiliations

Member, Law Society of South Australia.

Member, Cross City Lawyers Group on Solvency II.

Recognition

“She’s very good, and she’s very sharp. She’s quite a presence; you don’t forget her. She’s very sharp, and she’s prepared to battle for her client good and proper. The fact that she’s Aussie might help.”
Chambers UK 2019
“She is extremely able, technically very strong, a tough negotiator, and good fun to work with.”
Chambers UK 2019

Awards

  • Legal 500 Insurance (Specialism) Team of the Year (UK) 2018 "Rising Star" for Corporate at the Euromoney Women in Business Law Awards 2017

Qualifications

Admissions

Admitted as solicitor, South Australia, Australia, 2008

Admitted as solicitor, England and Wales, 2011

Academic

LLB/LP, Flinders University, 2007

BA, Flinders University, 2007

Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.