Shahid Law Firm's extensive experience and deep understanding of the insurance industry make us the legal partner of choice for many leading insurance companies and other industry stakeholders. Our team of seasoned attorneys is adept at navigating the complex regulatory landscape governing the insurance sector.
Shahid Law Firm has built an impressive track record in the insurance sector by advising and supporting insurers, re-insurers, banks, financial institutions, and insured corporations at the stages of drafting, and negotiating as well as settlement, litigation and arbitration.
Shahid Law Firm handles the full breadth of insurance matters, vigorously representing clients in complex insurance and reinsurance matters, both contentious and non-contentious. Over its history, Shahid Law Firm has acted for leaders of the insurance industry worldwide namely, ACE Insurance, American International Group (AIG), MetLife, Bupa International, among many others.
- Drafting complex insurance policies
- Professional negligence claims
- Post-crisis advice and claims
- Regulatory and compliance matters
- Settlement and negotiations
- Litigation and arbitration
- Acting as local counsel for MetlLife in its worldwide acquisition of ALICO from AIG in a deal valued at USD 15.5 billion.
- Advising Bupa International on the application of Egyptian laws relating to the marketing and sale of international private medical insurance over the internet.
- Representing the International Air Transport Association (IATA) on an Insurance Cover for IATA Accredited Agents Participating in the Billing and Settlement Plan with an Egyptian insurance company to cover the non-payment of airline tickets from local travel agents worth EGP 150 million.
- Advising Longulf Trading (UK) Limited on legal and corporate compliance requirements according to applicable laws and regulations related to conducting business in Egypt, acted as legal counsel to implement the restructuring plan of the Egyptian affiliates as well as handled social insurance, transfer of employees and tax issues related to its existing business arm in Egypt.
- Advising Octium Life DAC, an Irish life insurance company offers whole-of-life, investment-linked, redeemable life insurance policies and distributes such Policies primarily via its tied agent, on the legal framework of insurance in general and insurance policies from an Egyptian law perspective.
- Representing a group of re-insurers in the context of their settlement of a multi-dollar insurance claim during their negotiations with the Cairo Electricity Company and the Egyptian Electricity Holding Company.
- Acting as co-counsel on Egyptian law regarding an insurance and reinsurance claim involving property damage and business interruption brought by a regional Bank against a leading inspection, verification, testing and certification company (ICC Case No. 15119/JEM).
- Representing a global insurance provider in a dispute against the Egyptian Tax Authority, where we successfully obtained a final judgment in favor of our client confirming that the Tax Authority is not entitled to levy a stamp duty on capitalization contracts (The judgment has since become an established tax principle that is applicable industry-wide).
- Upon instructions of the insurers, representing a major five-star hotel chain during oral proceedings with respect to an accident of a child drowning in the hotel’s swimming pool.
- Assisting US insurance and reinsurance companies with respect to an insurance dispute relating to damages sustained by a Solar Island Integrated Combined Cycle Power Plant owned by Orascom Construction Industries and insured for the benefit of Flagsol GmbH in the area of Kuraymat in Egypt.
- Advising a Swiss Bank on various life insurance matters pertaining to clients and employees.
- Advising XL London Market Ltd, a subsidiary of XL Catalin (formerly XL Group plc) on the legal intricacies of four potential and actual claims arising under a retrocessional policy subscribed to by the London Market, including XL in relation to a total loss of an aircraft in the area of Sharm El-Sheikh.
- Stirring settlement between Gras Savoye and other parties that were shareholders to an Egyptian insurance brokerage company on the background of a financial dispute.
- Advising a number of insurance companies during proceedings brought against international hotels (the Insured) for an injury caused to guests.
We have also counseled, represented and advised international Fortune 500 insurance giants on a number of matters, including:
- Advising an insurance company on its response to damages incurred by a major shopping mall and a hypermarket franchise during the January 2011 events, focusing on the contentious issues of force majeure, terrorism, rebellion and revolution under Egyptian law.
- Reviewing a Cut-Through Agreement for a major real-estate company (the insured) with respect to the fulfillment of valid claims by the re-insurer under a related insurance policy.
- Advising a US insurance company on aspects of average clause, business interruption (BI), and the application of exclusions under a property damage (PD) section of an insurance policy in a claim related to the failure of an electrical transformer in an iron and steel facility in Alexandria, and the subsequent interruption to the activities of the facility.
