Blake Dawson Waldron and Gilbert + Tobin have advised on Wesfarmers' $375m acquisition of Lumley Insurance Group's Australian and New Zealand operations - creating a new Wesfarmers insurance division.

The transaction closed 14 October. As a result of the deal, Wesfarmers has acquired the total issued share capital of Lumley ANZ Group's UK parent.

Wesfarmers legal counsel Ruth Palmer, together with Vicki Allars and Vicki Krause, handled the legal aspects of the purchase, with lawyers from Blake Dawson Waldron, Ashurst Morris Crisp (UK) and Quigg Partners (New Zealand) assisting. Key members of Blakes' legal team included Rehana Box (insurance/regulatory), Anne Clark (superannuation), Rod Cox (tax), Angela Snedden (property), Melanie Connell (legal technology group), Jim Hunwick (banking) and Chris Greiner (corporate).

Gilbert + Tobin, led by partner Garry Besson, represented Lumley Insurance Group in Australia, with Norton Rose acting as UK advisers.

The general insurance operations of the Lumley group in Australia and New Zealand will be joined with Wesfarmers existing subsidiary, Wesfarmers Federation Insurance, to form a new Wesfarmers Insurance Division.

Wesfarmers is currently in the process of on-selling the Lumley Life Group's Australian and New Zealand operations to Capital Alliance Holdings (Australia) Pty Ltd. The sale is expected to be completed by December.