Slaughter and May has advised Standard Life Assurance on the £6.7bn reinsurance of some of its annuity liabilities to Canada Life International Re – thought to be the largest deal of its kind in the UK to date.
The deal closed on 14 February and the Slaughters team was led by corporate partner Craig Cleaver and tax partner Graham Earles. The firm has acted for Standard Life since it won a competitive tender to advise the insurer on its demutualisation in 2004 and subsequent stock market flotation.
