Saket Shukla is a co-founding partner of Phoenix Legal. Saket focuses on strategic advisory, M&A and corporate transactional work. He has extensive experience advising on various aspects of 'doing business' in the insurance and related sectors.
Saket has been advising clients in the insurance sector for over a decade and has seen the industry evolve to its current position. He regularly advises foreign investors and promoters involved in different businesses in this sector (life, non-life, re-insurers, broking and other intermediaries). His experience includes advising on complex and cutting-edge work in this sector, ranging across the entire investment cycle, from investment structuring and strategy to exits, including joint ventures in greenfield businesses and start-ups, acquisitions, mergers, restructuring, distribution arrangements, regulatory and anti-trust advisory, regulatory presentations and approvals and contentious advisory.
Saket recently advised a broking entity restructure its holdings in India and potential consolidation of local broking businesses through a structured arrangement. He had previously advised private equity asset manager Apis Partners, on acquiring a significant minority stake in Star Health and Allied Insurance Company.
Saket's insurance sector expertise and work have been widely recognised. The Asia Pacific edition of The Legal 500, Saket "gives excellent, sound, balanced advice on insurance, JVs and corporate matters", "a great ability to see the bigger picture and solve problems while keeping the legal constraints in mind". Chambers and Partners reports that "[Saket] understand[s] what I am asking for and translate[s] that into simple advice that I can immediately use" and he is "very pragmatic, solution-oriented and demonstrates the ability to meet clients' requirements." Who's Who Legal reports that "[He] is a prominent name in the Indian market and an expert in transactional and regulatory insurance and reinsurance."
Who's Who Legal recognises Saket in Thought Leaders India which recognises a few Indian lawyers who are "worthy of special mention owing not only to their expertise and experience advising on significant and cutting-edge matters, but also their ability to innovate and inspire".
Saket keenly follows the regulatory environment in the sector and participates in policy building measures by commenting on draft regulations issued by the regulator for stakeholders' comments. Saket led an initiative with the insurance regulator which ultimately resulted in the regulator issuing guidelines for mergers of general insurers in India.
Saket is an active participant in social ventures, and is a co-founder of a project in eastern India aimed to help the silk weaving community. He also advises www.newslaundry.com, an alternative model for news, which is public sourced, funded and powered, unlike conventional ad funded media.