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Jane Childs

Jane Childs

Partner
T +44 20 7398 4622
F +44 30 3130 3001
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Overview

An "expert in financial lines"

UK Legal 500

Jane Childs is a partner in the Insurance & Reinsurance practice of the London office. She is "highly experienced” in insurance and reinsurance litigation (UK Legal 500, 2017) handling complex, high value claims across a range of FI, D&O and W&I matters. She also heads up the UK Pensions Risk Transfer Group, advising on bulk annuity and insurance longevity swap transactions.

Financial lines
Jane is recognised in UK Legal 500, 2012 as an “expert in financial lines” and regarded by insurance clients as an "outstanding lawyer" for her "market appreciation, thoroughness and gravitas" (The Gracechurch London Market Insurance Law Report, 2016).

Jane has been at the forefront of advising the FI insurance market on rate-fixing scandals, prospectus liability issues and a range of retail mis-selling and misconduct claims for the past two decades. She also handles significant D&O claims, often involving US securities class action exposure, wide-ranging regulatory investigations and complex offshore trust and administration liability issues.
Jane works closely with W&I insurers, drawing on her audit and accounting knowledge to advise on coverage, as well as loss and valuation issues. She frequently advises on the interaction between W&I, PI and D&O coverage and assists W&I underwriters with the design of bespoke policies.

Jane has defended asset/fund managers against claims for breach of investment mandates and fund mismanagement; defended private banks for breach of mandate claims; and represents offshore service providers in connection with administrator and director disputes.

Pensions Risk Transfer
Jane has considerable experience advising pensions trustees on pensions de-risking transactions, including bulk annuity (buy-in and buyout) policies and longevity insurance swaps. She leads the UK Pensions Risk Transfer Group, which includes lawyers from the firm's pensions, banking & finance, insolvency & restructuring and insurance practices.

Jane recently represented the trustees of the National Grid Electricity Group of the Electricity Supply Pension Scheme on a fully intermediated longevity swap transaction with Zurich, covering pension liabilities worth more than £2 billion; this deal was announced in May 2018. The insurance swap features sophisticated title transfer and fixed security collateral arrangements and has been structured to ease conversion into a buy-in or buyout of pension scheme liabilities with a bulk annuity provider, if desired in the future.

Jane also represented the trustees of the Total UK Pension Plan who insured £1.6 billion of pensioner liabilities with Pension Insurance Corporation (PIC) in June 2014. This is one of the UK industry's largest bulk annuity deals and the size of the transaction required the implementation of an innovative structure with PIC.

Jane's pensions work also involves advising on legal issues associated with different de-risking strategies and pension trustee liability run-off insurance in the context of winding up.

Professional Liability
Jane also has experience of defending accountants and auditors in relation to claims for negligence and misrepresentation arising out of audits, share valuations, corporate transactions and property appraisals.

Jane was previously part of the litigation team representing Coopers & Lybrand in large scale commercial litigation arising out of the audits of the Maxwell group of companies and subsequently spent time on secondment with the Office of General Counsel at PwC UK, working as a Legal Adviser and Risk Management lawyer for the Tax and Legal Services business. Jane has considerable experience working with the captive of a major accounting firm, managing offshore professional liability claims brought against trustees in respect of investment mandate and fund management issues.

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