insurance€¦ · insurance. cape town, south africa t: +27 21 480 7800 e: info-cpt@bowmanslaw.com...

INSURANCE

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BOWMANS

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Contents

04 OurFirm

05 OurFootprintinAfrica

06 OurInsuranceSector

07 OurSpecialistServices

10 OurSignatureMatters

12 Accolades

14 KeyContacts

Insurance

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Our Firm

Ourtrackrecordofprovidingspecialist

legalservicesinthefieldsofcorporate

law,bankingandfinancelawanddispute

resolution,spansoveracentury.

WithnineofficesinsevenAfricancountries

andover400specialistlawyers,wedrawon

ouruniqueknowledgeofthebusinessand

socio-politicalenvironmenttoadviseclients

onawiderangeoflegalissues.

Everywherewework,weofferclientsa

servicethatuniquelyblendsexpertiseinthe

law,knowledgeofthelocalmarketandan

understandingoftheirbusinesses.Ouraim

istoassistthemtoachievetheirobjectives

assmoothlyandefficientlyaspossiblewhile

minimisingthelegalandregulatoryrisks.

Ourclientsincludecorporates,multinationals

andstate-ownedenterprisesacrossarangeof

industrysectorsaswellasfinancialinstitutions

andgovernments.

Ourexpertiseisfrequentlyrecognisedby

independentresearchorganisations.We

receivedawardsinthreeoutoffourcategories

attheDealmakersEastAfricaAwardsfor

2019:toplegaladviserintheM&ACategory

forbothdealflowanddealvalue,andadvised

ontheDealoftheYear.IntheDealmakers

SouthAfricaAwardsfor2019,wewereplaced

thirdfordealvalueintheM&ACategoryand

advisedonboththeDealoftheYearandthe

BEEDealoftheYear.

We help our clients overcome legal complexity and unlock opportunity in Africa.

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Our Footprint in Africa

Mozambique

Kenya

Tanzania

South Africa

Nigeria

Uganda

Mauritius

Best friends

Bowmans offices

Significant transaction or advisory experience

Alliance firms

Ethiopia

Weprovideintegratedlegalservices

throughoutAfricafromnineoffices

(CapeTown,DaresSalaam,Durban,

Johannesburg,Kampala,Lilongwe,Lusaka,

MokaandNairobi)insevencountries

(Kenya,Malawi,Mauritius,SouthAfrica,

Tanzania,UgandaandZambia).

Weworkcloselywithouralliancefirm,

AmanAssefa&AssociatesLawOffice,

inEthiopia,andourbestfriendsinNigeria

andMozambique(UdoUdoma&Belo-Osagie

andTacianaPeãoLopes&Advogados

Associados,respectively).Wealsohave

strongrelationshipswithotherleadinglaw

firmsacrosstherestofAfrica.

WearerepresentativesofLexMundi,aglobal

associationwithmorethan160independent

lawfirmsinallthemajorcentresacrossthe

globe.Thisassociationgivesusaccesstothe

bestfirmsineachjurisdictionrepresented.

Malawi

Zambia

Insurance

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Virtuallyallcorporatetransactionsand

activitiesofthe21stcenturyhavecomplex

insuranceelements.

Insomeinstances,insurancemaybethe

dominantfeatureinamatter,suchaswhen

aninsuranceportfolioistransferredfromone

serviceprovidertoanother,oraninsurance

claimisrepudiatedandadisputearises.In

othercases,insurancemayformasmallerbut

nolessvitalcomponent,whetherinrelation

toasaleorpurchaseagreementinacross-

borderM&Atransactionorintermsofthe

regulatoryapprovalsthatmightberequired.

Ourinsurancelawspecialistsareactiveacross

theinsurancevaluechaininSub-Saharan

Africa,advisingsomeoftheregion’sleading

insurersandreinsurersandactingforclients

inindustrysectorswhereriskisinherent

-aviation,constructionandengineering,

healthcare,manufacturing,marine,mining,and

telecommunications,amongothers.

Weadviseonintricate,high-valuetransactions

suchasacquisitionsandinvestments,

financing,taxanddisputes.Weareregularly

approachedbyinsurersandcorporates

toprovideguidanceoninsurance-related

regulatory,complianceandgovernanceissues.

Our Insurance Sector

Insurancepenetrationinkeymarkets,suchas

Kenya,currentlystandsataround3%andthereis

muchroomforgrowth.Weadviseclientsseeking

togrowtheirpresenceintheregiononinsurance

productdevelopment,businessstructuresand

legalcompliance.

Ourlawyershavestrongrelationshipswith

financialservicesregulatorsinKenya,Mauritius,

SouthAfrica,TanzaniaandUganda,combined

withadeepknowledgeoflocallawsand

regulationsandbusinessconditions.

BOWMANS

CORPORATE AND M&A

Weactforclientsacquiringequitystakes

orinterestininsurancecompaniesandalso

adviseongreenfieldset-upandcorporate

restructuring(includingtransfersoflife

andgeneralbusinessportfolios).Thismay

includeadvisingonforeignownership

restrictionsandminimumcapitalor

solvencyrequirements,aswellasproviding

strategicadviceonthemostappropriate

solutionsforinsuranceandfinancialservices

clientsoperatinginSub-SaharanAfrica.

Wealsoadviseonthefinancingof

acquisitionsandinvestments,draft

servicelevelagreementsandintermediary

agreementsandprovidetax,employment

lawandgeneralcommercialadvice

relatingtoinsurancetransactions.

REGULATORY

Weassistclientstocomplywithinsurance

andfinancialserviceslawsandregulationin

Kenya,Mauritius,SouthAfrica,Tanzaniaand

Uganda.Thisincludesadvisingoninsurance

lawsandregulations,providingregulatoryor

legaladvicethatinsurersmayrequire,acting

forclientsincontentiousregulatorymatters

andadvisingonregulatorycompliance.

Ourworkrangesfromliaisingwithinsurance

industryombudstoadvisingandassisting

withapplicationswhenapprovalsarerequired

frominsuranceregulators,andproviding

regulatoryopinionstotheinsuranceindustry.

Our Specialist Services

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Insurance

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LITIGATION

Ourdisputeresolutionexpertisespans

adviceoninsurancepolicyresponse,

wordingandinterpretation,andmanaging

andprocessingsubrogationclaimsacross

thespectrumofsectorsincludingaviation,

shipping,life&health,professional

indemnityandmedicalmalpractice.

KEY CLIENTS

Ourclientsintheinsurancesectorinclude

bluechiplong-term,short-termandhealth

insurers,forexample:AbsaWealthInvestment

ManagementandInsuranceDivision,Alexander

Forbes,BritamInvestments,Discovery,Hollard,

Liberty,LloydsUnderwriters,Marsh,

MayfairGroup,MMIHoldings,OldMutual,

ResolutionGroupandSanlam.

AVIATION

Wehelpourclientsdealwithaircraftlossesand

disputes.Wetakeaproactiveapproachthat

entailsfullyinvestigatingallpotentialclaims

andadvisingonthemeritsandstrategyof

each,thusobviatingunnecessarylitigation.

Wealsoadviseonregulatoryissues,

coverage,third-partyclaimsand

subrogatedrecoveries,andassistinsurers

andreinsurersinthedevelopmentof

aviation-relatedinsuranceproducts.

Clientsincludeairserviceoperators,airport

operators,groundhandlers,maintenanceand

ground-handlingserviceproviders,original

equipmentmanufacturers,financiers,lessors

andhullandliabilityinsurersandreinsurers.

MARINE

ThecoastlineofSouthernAfricaiswell

knownforitsseriousandhigh-profilelosses.

Overthepasttwodecades,wehaveworked

withclientsinvolvedinsomeofthemost

significantlocalshippingcasualties.Immediate

legalassistanceisavailableinemergencies

throughour24-hournationalhelpline.

Inadditiontomajorcasualtywork,weprovide

traditionalshippinginsurance,includinghull,

cargoandprofessional&indemnityinsurance.

LIFE INSURANCE AND NON-LIFE INSURANCE BUSINESS AND POLICIES

Weprovideregulatoryadviceinrelationto

non-lifeandlifeinsurancepolicies(including

lifeevents,healthevents,disabilityevents,

deatheventsetc),withparticularfocuson

employeebenefitsandgroupinsurancepolicies

(employer,pensionfunds,medicalschemes).

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Insurance

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Our Signature Matters

Weadvised:

• AlexanderForbesLtdonitsdisposalofits

shortterminsurancebusinessthroughan

auctionprocessandthesaleof100%ofits

sharesinthefollowingentities:Alexander

ForbesDirectProprietaryLimited,

AlexanderForbesAdministrationServices

ProprietaryLimited,andAlexanderForbes

InsuranceCompanyLimited.Theprocess

drewsignificantinterestfrombothlocal

andinternationaltradeplayers,which

resultedfourbiddersmakingittothe

secondroundoftheauctionprocess.

• AlexanderForbesonthedisposalof

itsSouthAfricanshort-terminsurance

businesstoMomentumMetropolitan

HoldingsforapproximatelyZAR2billion.

• AlexanderForbesontheshareholder

reorganisationtransactionpursuant

towhichAfricanRainbowCapital

substantiallyincreaseditsstakein

AlexanderForbesthrough(i)thepurchase

ofsharesfromAlexanderForbesanchor

shareholder,Mercer,and(ii)swapping

sharesinasubsidiaryofAlexanderForbes

forsharesinAlexanderForbesitself.

• Anairportoperatoranditsliability

insurersinrespectofahighvaluetheft

atORTamboInternationalAirport,

Johannesburg.

• Anaircraftmaintenanceorganisationand

itsliabilityinsurersinrespectofafatal

aircraftaccidentinBotswana.Litigation

wasbroughtinthecourtsofBotswana

andtheUSA.

• Agroundhandleranditsliability

insurersinrespectofthelossof

consignmentofbanknotesinUganda.

• AmilnInsuranceSE,aforeigninsurer,onthe

regulatoryrequirementsforittoconduct

businessinSouthAfrica,theregulatory

requirementsforforeigninsurertoreceive

businessthroughSouthAfricanbrokers,

regulatoryrequirementsapplicabletoalocal

SouthAfricaninsuredseekingcoverabroad

throughaforeignbrokerandwhetheraforeign

insurerispermittedtoconductinsurance

businessinSouthAfricaandtoreceivesuch

businessthroughaforeignbroker.

• Capitalworksinrelationtoitscomplex

acquisitionofsharesinAONTanzania

Limited(nowMinetTanzania),oneofthe

biggestinsurancebrokersinTanzania,which

requirednotificationtovariousregulators

inTanzania,FCCmergerfilingandall

subsequentrestructuringandlocalissuesin

AONTanzaniafortherecentamendments

tolocalcontentrequirementsforbrokersin

Tanzania.ThetransactionaddsAfrica’slargest

riskandhumancapitaladvisorynetworkto

Capitalworks’sinvestmentportfolio.

• LandBankInsuranceCompanySOCLimited

ontheimplicationsofbeingdesignatedasan

insurancegroupbythePrudentialAuthority

andassistingwithrepresentationstothe

PrudentialAuthority,motivatingagainst

designationasaninsurancegroup.

• LibertyGroupLtdinrelationtothe

reinstatementof25deregisteredunderwritten

pensionfundsandanindustrywide

investigationbythefinancialservices

regulatorintounclaimedbenefitsarising

fromthecancellationofapproximately6000

retirementfundsincludingfundsunderwritten

andmanagedbylong-terminsurers.

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• LibertyHoldingsLtdanditsaffiliate,

STANLIBTanzaniaLimited,inrelationtoa

claimbroughtagainstthembyaprevious

ManagingDirectorintheCommissionfor

MediationandArbitration.

• Marshinitsacquisitionoftheinsurance

brokerageandriskbusinessofAlexander

ForbesinSouthAfricaandsevenother

Africanjurisdictions.

• OldMutualEmergingMarketsonitsmulti-

jurisdictional(coveringover7countries

withdifferentregulatoryregimesandlevels

ofdevelopment)implementationofits

managedseparationwithimplicationforits

operationsacrossmultiplejurisdictionsin

Africa.Thematterincludestheunbundling

ofOldMutual’smajoritystakeinNedbank

Limitedaswellasissuesregardingthe

regulatedcapitalofinsuranceandbanking

entitieswithintheOMEMGroup.

• TheNavigatorsGroupInc,theliability

underwritersofshiprepairersElginBrown

&Hamer(Pty)Ltd,followinganincidentin

theCapeTownharbourwhentheoffshore

supplyvessel“GoRegulus”thatElgin

Brownwerecontractedtorepair,collided

withtheharbourquaysideduringdry-

dockingoperations.

• TheownersofaMaerskSupplyServiceA/S

inconnectionwithatowagecharterofa

distressedvessel(mvShengMing),which

encountereddifficultiesenteringtheportof

CapeTown.Wewereengagedintimecritical

negotiationswithvariousinterestedparties

includingthePortAuthorities(Transnet)and

theSouthAfricanSafetyAuthoritytocome

upwithamutuallyacceptablesolutionforall

concerned.Thenegotiationswerecomplex

andwide-rangingbutultimatelyledtoa

resolutionofthematter,whichwasofgreat

significancefortheclient.

• TheownersofthemvSunriseJadeandtheir

P&Iandhullandmachineryinsurersfollowing

acollisionwiththetotallossofthefishing

vesselmfvLezandioffCapePoint,nearCape

Town.Ourassistanceincludedfacilitationof

theinvestigationandtechnicalanalysisof

data,retainingexperts,takingofstatements,

collectingandpreservingevidenceand

liaisonwiththelocalsafetyauthority.

Insurance

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Accolades

AFRICAN LEGAL AWARDS 2019

Wewontwopracticeawards-forTransportationand

InfrastructureTeamoftheYearandTMTTeamoftheYear.

CHAMBERS AFRICA AWARDS 2018

WewerenamedSouthAfricanLawFirmoftheYear.

DEALMAKERS EAST AFRICA AWARDS 2019

Wereceivedawardsinthreeoutoffourcategories:toplegal

adviserintheM&ACategoryforbothdealflowandvalue,and

advisedontheDealoftheYear(theNIC/CBAmerger).

DEALMAKERS SOUTH AFRICA AWARDS 2019

WewereplacedthirdfordealvalueintheM&ACategoryand

advisedontheDealoftheYear(PepsiCo’sacquisitionofPioneer

Foods)andtheBEEDealoftheYear(IsantiGlassacquisitionof

NampakGlass).

MERGERMARKET LEAGUE TABLES 2018

Wewererankedfirstbydealvalueandsecondbydealcount

intheAfricaleaguetablesforlegaladvisors,andthirdbydeal

countintheMiddleEast&Africaleaguetableforlegaladvisors.

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77 39 74Recognised Lawyers

Recognised Lawyers

Recognised Lawyers

BAND 1

KENYA

Banking&Finance

Corporate/M&A

Employment

FinTech

IntellectualProperty

RealEstate

SOUTH AFRICA

CapitalMarkets:Debt

CapitalMarkets:Equity

Competition/Antitrust

CorporateInvestigations

Corporate/M&A

Employment

Environment

IT&Telecommunications

Projects&Energy

PublicProcurement

Shipping

Tax

TMT

TANZANIA

GeneralBusinessLaw

UGANDA

GeneralBusinessLaw

BAND 2

SOUTH AFRICA

Banking&Finance

DisputeResolution

FinTech

Media&Broadcasting

Restructuring/Insolvency

KENYA

Projects&Energy

CHAMBERS & PARTNERS 2020 RANKED US IN

THE FOLLOWING AREAS

TIER 1

KENYA

Financial&Corporate

Mining

SOUTH AFRICA

CapitalMarkets:Debt

CapitalMarkets:Equity

Energy&Power

M&A

UGANDA

Financial&Corporate

ProjectDevelopment

TIER 2

KENYA

Energy&Power

Infrastructure

SOUTH AFRICA

Banking

Infrastructure

Mining

Oil&Gas

ProjectFinance

TANZANIA

Financial&Corporate

TIER 3

TANZANIA

ProjectDevelopment

IFLR1000 2020 RANKED US IN THE

FOLLOWING AREAS

TIER 1

KENYA

Banking,Finance&CapitalMarkets

Commercial,Corporate&M&A

Employment

RealEstate&Construction

SOUTH AFRICA

Commercial,Corporate&M&A

Competition

Employment

Projects&Infrastructure

Shipping&Transport

TANZANIA

LeadingFirm

UGANDA

LeadingFirm

TIER 2

KENYA

DisputeResolution

Privitisation&Projects

SOUTH AFRICA

Banking&Finance

DisputeResolution

InvestmentFunds

Tax

THE LEGAL 500 EMEA 2020 RANKED US IN

THE FOLLOWING AREAS

Insurance

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Key Contacts

DAVID GERAL

HeadofBankingandFinancialServices,

HealthcareandPensions

Johannesburg,SouthAfrica

T:+27116699514

E:david.geral@bowmanslaw.com

ERNEST WILTSHIRE

ManagingPartner,

InsuranceRegulatory

Kampala,Uganda

T:+256414254540

E:ernest.wiltshire@bowmanslaw.com

CHRIS GREEN

Partner,MergersandAcquisitions

DaresSalaam,Tanzania

T:+255768988640

E:chris.green@bowmanslaw.com

CHRISTINE MICHIRA

Partner,InsuranceRegulatory

Nairobi,Kenya:CoulsonHarneyLLP

T:+254202899000

E:kamami.christine@bowmanslaw.com

FAZIL HOSSENKHAN

ManagingPartner,InsuranceRegulatory

Moka,Mauritius

T:+23054213032

E:fazil.hossenkhan@bowmanslaw.com

CHRISTINE RODRIGUES

Partner,InsuranceRegulatory

Johannesburg,SouthAfrica

T: +27116699531

E:christine.rodrigues@bowmanslaw.com

PARAS SHAH

Partner,MergersandAcquisitions

Nairobi,Kenya:CoulsonHarneyLLP

T: +254202899000

E: paras.shah@bowmanslaw.com

MILES CARTER

Partner,InsuranceLitigation

Johannesburg,SouthAfrica

T:+27116699550

E:miles.carter@bowmanslaw.com

HEATHER MANSON

HeadofAviation,AviationInsurance

Johannesburg,SouthAfrica

T: +27116699280

E:heather.manson@bowmanslaw.com

JEREMY PRAIN

Partner,MarineInsurance

CapeTown,SouthAfrica

T: +27214807811

E:jeremy.prain@bowmanslaw.com

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ANTHONY NJOGU

Partner,DisputeResolution

andArbitration

Nairobi,Kenya:CoulsonHarneyLLP

T: +254202899000

E:anthony.njogu@bowmanslaw.com

BONNIE STEYN

Partner,Medico-legal

CapeTown,SouthAfrica

T: +27214807823

E:bonnie.steyn@bowmanslaw.com

DEIRDRE PHILLIPS

Partner,LifeInsuranceand

Non-LifeInsuranceBusiness

andPolicies,Regulatory

Johannesburg,SouthAfrica

T: +27116699196

E:deirdre.phillips@bowmanslaw.com

CHARLES SMITH

Partner,MergersandAcquisitions

Johannesburg,SouthAfrica

T: +27116699353

E:charles.smith@bowmanslaw.com

ASHLEIGH HALE

Co-HeadofCorporate,Corporate,

MergersandAcquisitions

Johannesburg,SouthAfrica

T:+27116699342

E:ashleigh.hale@bowmanslaw.com

STEPHANIE ESTERHUYSE

Medico-legal

CapeTown,SouthAfrica,

T: +27214807833

E: stephanie.esterhuyse@bowmanslaw.com

SEAN OMONDI

Partner,DisputeResolution

andArbitration

Nairobi,Kenya:CoulsonHarneyLLP

T: +254202899000

E: sean.omondi@bowmanslaw.com

RONÉ LA GRANGE

Partner,InsuranceTax

Johannesburg,SouthAfrica

T:+27116699290

E:rone.lagrange@bowmanslaw.com

DEON DE KLERK

Co-HeadofCorporate,Corporate

CapeTown,SouthAfrica

T:+27214807934

E:deon.deklerk@bowmanslaw.com

CLAUDIA JACKSON

Partner,AviationInsurance

Johannesburg,SouthAfrica

T:+27116699281

E:claudia.jackson@bowmanslaw.com

Insurance

Cape Town, South Africa

T:+27214807800

E: info-cpt@bowmanslaw.com

Dar es Salaam, Tanzania

T: +255768988640

E: info-tz@bowmanslaw.com

Durban, South Africa

T: +27311091150

E: info-dbn@bowmanslaw.com

Johannesburg, South Africa

T: +27116699000

E:info-jhb@bowmanslaw.com

Kampala, Uganda

T: +256414254540

E: info-ug@bowmanslaw.com

Lilongwe, Malawi

T: +265990318152

E: info-ml@bowmanslaw.com

Lusaka, Zambia

T: +260962275329

E: info-zb@bowmanslaw.com

Moka, Mauritius

T: +2304688411

E:info-ma@bowmanslaw.com

Nairobi, Kenya

T: +254202899000

E:info-ke@bowmanslaw.com

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Alliance Firms:

Aman Assefa & Associates Law Office, Addis Ababa, Ethiopia

T: +251114702868

E:info@aaclo.com