Stephen Browning

Full Profile

Stephen advises on start-ups, reorganisations, acquisitions and disposals in the insurance sector and regularly advises Lloyd’s underwriting businesses on a wide variety of matters, including transactions with commercial banks and reinsurers for the provision of funds at Lloyd’s, consortium underwriting arrangements and ‘turnkey’ management arrangements.

Stephen is described in a recent edition of Chambers as “capable of taking a ‘high-level view,’ but is also felt to have ‘a real grip on the underlying business matters. He has a formidable standing in the Lloyd's market” and in Legal 500 UK 2011 as “a ‘first-choice adviser’ with ‘extensive expertise’, particularly regarding the London and Lloyd’s market”.

He is featured as a leading individual in insurance: corporate and regulatory in Legal 500 UK 2011 and as an expert in insurance in Legal Business’ Legal Experts 2011.

Experience

• Advising a global insurance and reinsurance group on its establishment of a Lloyd’s syndicate
• Advising a Lloyd’s underwriting business on the making of a capacity offer to the non-aligned members of its managed syndicate (having previously advised on more than 30 such offers)
• Advising on two Lloyd’s syndicate mergers
• Advising a Bermudan insurer on the establishment and authorisation of a UK branch
• Acting for various clients on capital reductions for a variety of purposes (including elimination of losses, release of surplus capital and enhancement of distributable reserves)
• Advising various Lloyd’s businesses on numerous quota share, excess of loss, stop loss and reinsurance-to-close arrangements and bank facilities for the provision of funds at Lloyd’s
• Acting for the shareholders of an insurance fund management business on a trade sale of their shares
• Acting for FirstCity Partnership Limited on the sale of its business to Arthur J. Gallagher & Co. (UK) Limited
• Acting for Highway on the first Part VII transfer of non-life business from a Lloyd’s Syndicate to an insurance company
• Acting for the management team and the group companies on the start up of Ark Syndicate Management Limited and Lloyd’s Syndicate 4020