Debevoise & Plimpton’s London arm has scored the lead role in the benchmark $2.5bn (£1.46bn) initial public offering (IPO) by new client China Life Insurance – the largest float in the world this year.

The Asian insurance giant on Thursday (20 November) filed an application with the US Securities and Exchange Commission (SEC) to launch the IPO, which is easily expected to surpass July’s £1.14bn flotation of Yell on the London Stock Exchange.