Corporate strategy case studies
American Express (UK): advice on restructuring Amex’ Mitchell Beazley (UK) coffee table book acquisition into a supportive and profitable “pocket guide to Wine/Travel” series
Lesieur (France): advice on restructuring its direct margarine distribution business to transform more broadly into a profitable general distribution system for product placement in France’s 40,000 bakeries
Confidential (Saudi Arabia): evaluation of forward integration strategy of large oil refiner into related chemical products
Refined Sugar Incorporated (Western United States): advice and valuation of sugar beet processing facilities owned by the Hunt family in the US mountain states
Purina Mills Incorporated: advice on transforming a dealer-based distribution system into a direct marketing system, to address the larger, consolidating dairy farms in the US midwest
Equitable Life (US): advice on radically re-designing Single Premium Deferred Annuities to be more profitable and at less risk of consumer/agent disintermediation
Royal Dutch Shell: advice on developing downstream ‘gas stations’ into broader retail outlets
Shell UK: advice on re-pricing industrial fuels business and transforming from a regionally-based into a sector expertise-based salesforce
Avon Products: advice on simplifying product mix to be more coherent with agent / packaging distribution system
Aviva UK: advice and transaction support in consolidating the Aviation insurance business globally (acquisition of Chubb/CNA’s US Aviation Insurance business)
KLM, Scandinavia Air, Swiss Air (the KSSAF group): advice and transaction support in modifying group insurance purchasing / third-term risk acceptance for the (then) largest global airline group
Marsh McLennan: advice on UK ‘affinity’ market entry including transaction support for the ($200 million) acquisition of The Frizzell Group
Lloyd’s of London: advice on potential future capital investment models, pioneering the first ‘direct’ corporate capital investment vehicle with Tarquin (John Charman’s)’s partnership with Capital Z, which became the model for nearly all future corporate capital entry (over $10 billion)
Lloyd’s of London: advice on the placement of the ($25 billion+) old years’ liabilities “ring fence” which allowed for new capital to enter Lloyd’s and for the ‘new’ Lloyd’s to be resurrected with defined exposure to the past
Equitas: advice on negotiating settlements with US industrial claimants including Dow Chemical
Renaissance Re: advice and transaction support in developing its third-party (“sidecar”) strategy which, in due course, became the model for hedge fund investors to enter and develop the insurance-linked securities market and which now represents up to 50% of Renaissance Re’s profits
Aon: advice on various capital-raising/restructuring options following the WTC attack, including options related to Virginia Surety and, in due course, the establishment of Endurance Specialty
Aon: advice on the establishment of The Warranty Group as an independent subsidiary
Axa: advice on the closure of Axa Re US and the repositioning and eventual sale of Axa Re Europe
Hannover Re: advice on US specialty insurance market
AIG: lead advisor on restructuring during the global financial crisis
US Treasury: advice on TARP support provided to US insurance sector during global financial crisis
Harbinger: advice on this hedge fund’s development of Fidelity & Guaranty Life
State of Wisconsin: advice on the supervision of AMBAC following the global financial crisis
Icahn Companies/Paulson & Co: advice on $4 billion investment in AIG, to catalyze sale of UGC (financial guaranty subsidiary), spin-off of AIG Life & Retirement, settle old years’ liabilities, reduce cost, and change management
Randall & Quilter: advice on positioning its Legacy and Global Fronting businesses via M&A and capital markets development as well as preparing for longer-term shareholder development