The multidisciplinary practice at Debevoise & Plimpton LLP’s insurance team offers a comprehensive range of services spanning complex transactions, representation for insurers, reinsurers, and private equity funds in high-value M&A and financing endeavors, as well as assistance with intricate pension risk transfers and cross-border deals. Led by seasoned corporate partners Marilyn Lion and Nicholas Potter, based in New York, the practice boasts a diverse group of lawyers dedicated to M&A, finance, capital markets, regulatory compliance, taxation, and litigation. Further notable figures in New York include Alexander Cochran, specializing in insurance industry transactions and David Grosgold offering expertise in domestic and international corporate transactions. Additionally, Drew Dutton heads the firm’s private funds transactions group, bringing valuable experience in anchor investments, co-investments, joint ventures, and secondaries transactions; while Eric Dinallo, chairs the insurance regulatory practice. Notably, this year saw recent additions to the practice’s partner ranks, including Andrew Jamieson, promoted to partner in 2022, focusing on advising private equity firms and corporate clients on intricate transactions and Kristen Matthews, elevated to partner in May 2023, both based in New York.
Insurance: non-contentious in United States
Debevoise & Plimpton LLP
Responsables de la pratique:
Marilyn Lion; Nicholas Potter
Autres avocats clés:
Alexander Cochran; David Grosgold; Drew Dutton; Andrew Jamieson; Kristen Matthews; Eric Dinallo
Les références
‘Regarding the regulatory department, the amazing connections it has with various state regulatory departments. The Debevoise & Plimpton attorneys have access to all levels of state regulatory personnel, including the highest levels where change can be implemented.’
‘Eric Dinallo and Marshal Bozzo are an amazing team! They both formerly worked at the DFS and were able to communicate on the client’s behalf with all levels of DFS personnel in order to effectuate the implementation of a program in under six weeks. In contrast, a competitor in seven months achieved half the results that Eric and Marshal completed in one tenth of the time.’
Principaux clients
American International Group
Bain Capital
Brookfield Asset Management
Constellation Insurance Holdings
Covéa Mutual Insurance Group
Everest Re
Fortitude Group Holdings LLC
Global Atlantic Financial Group
Manulife Financial
MetLife Insurance Company
Oaktree Capital Management, L.P.
Progressive
Prosperity Life Group
Prudential Financial Inc.
Resolution Life US Matters
Sun Life Financial Inc.
TIAA
The Blackstone Group
The Travelers Companies, Inc.
Wilton Re Group
Principaux dossiers
- Advising Fortitude Re in its $28 billion reinsurance transaction with The Lincoln National Life Insurance Company (Lincoln Financial Group), where Lincoln will reinsure a large piece of its universal life insurance and fixed annuity business to Fortitude subject to customary regulatory approvals.
- Advising The Prudential Insurance Company of America in the sale of a group annuity contract to IBM, a transaction valued at $16 billion and the largest pension risk transfer transaction since 2012.
- Advised Constellation Insurance Holdings, Inc., backed by institutional investors Caisse de dépôt et placement du Québec (CDPQ) and Ontario Teachers’ Pension Plan Board (Ontario Teachers’) in a $10 billion block reinsurance transaction by its subsidiary The Ohio National Life Insurance Company with Pruco Life Insurance Company, an affiliate of Prudential Financial.
Eversheds Sutherland
With both domestic and international strength, Eversheds Sutherland’s insurance team offers experience across various sectors, including life and annuity, property and casualty insurance, reinsurance transactions, Bermuda platform establishment, third-party capital investments, insurance asset management and regulation. Particularly notable is their proficiency in pension risk transfer transactions and developing, registering, and ensuring compliance with 1940 Act registered UIT/separate accounts funded variable insurance products. Bert Adams, bringing significant experience in advising on complex corporate insurance sector mergers and acquisitions, and Ling Ling, a recognized expert in insurance, reinsurance, and financing transactions co-head the practice from New York. Alongside them, John S. Pruitt, the deputy practice group leader, offers deep experience, focusing on reinsurance, insurance regulation, and emerging issues. Other key contacts in New York include Cynthia R. Shoss, with extensive experience in insurance regulation; Jim Dwyer, experienced in representing major insurers in various transactions including acquisitions, demutualization, and restructurings and Kevin Finnegan, an expert in financial services transactions. Michele Spencer, based in Washington DC, handles issues related to mergers, acquisitions, and regulatory compliance. Notably, the practice saw a number of new partner hires in 2023, including Rachel Reid in Atlanta from an in-house role, Renée Dailey in New York from Akin, and Dan Brown in California from McDermott Will & Emery LLP.
Responsables de la pratique:
Bert Adams; Ling Ling; John S. Pruitt
Autres avocats clés:
Kevin Finnegan; Michele Spencer; Dan Brown; Cynthia R. Shoss: Jim Dwyer; Daren Moreira
Les références
‘Preeminent experts in all fields they represent.’
‘True service mind-set, available whenever I ask. Will get other SMEs on the line at a moment’s notice.’
Principaux clients
Allianz S.E.
Allstate
Arch Capital Group Ltd.
Associated Electric & Gas Insurance Services Ltd.
Capital One
Columbian Mutual Life Insurance Company
Empower Retirement
Fairfax Financial
Further Global
GIC
Great-West Life & Annuity Insurance Company
Horace Mann Educators Corporation
IGM Financial
Legal & General
MAPFRE U.S.A. Corp.
MassMutual
Munich Re and Munich America Reassurance Corporation
Mutual of America Life Insurance Company
National Western Life Insurance Company
Pacific Life
Pan American Life
Pension Insurance Corporation
Phoenix Life Limited
Royal & Sun Alliance
Securian Financial
Security Benefit Life
Symetra Financial Corporation
Talcott Resolution
Unum
Venerable Annuity
Voya Financial
Western & Southern Life
Wilton Re
Zurich Insurance Group Ltd.
Principaux dossiers
- Advised Allianz on its reinsurance of an innovative US$35-billion fixed index annuity portfolio that its subsidiary Allianz Life Insurance Company of North America has written.
- Advised IGM Financial Inc. in its US$622 million purchase of an approximately 20.5 percent equity interest in Rockefeller Capital Management.
- Advised Securian Financial in connection with the auctioned sale of its retirement recordkeeping business to Standard Insurance Company.
Willkie Farr & Gallagher LLP
Described as ‘highly responsive, very experienced and a pleasure to deal with,’ Willkie Farr & Gallagher LLP‘s insurance transactional and regulatory practice is renowned for its handling of significant M&A, capital markets, and ILS/alternative risk transfer transactional matters within the insurance industry. The practice boasts a unique strength in alternative risk transfer reinsurance cessions, catering to both risk sellers and buyers. Co-headed by Alexander Dye and John Schwolsky in New York, the practice focuses on M&A, capital markets insurance transactions, and the restructuring of troubled insurers, alongside demutualization transactions. Other key figures in the New York practice include corporate and securities law specialist Michael Groll, reinsurance transactions expert Elizabeth Bannigan, and Allison Tam, co-chair of the insurance regulatory group, renowned for her strong national and international restructuring transaction expertise. Kara Baysinger, based in San Francisco, serves as co-chair of the firm’s insurance regulatory and insurtech groups, representing national and international insurance and reinsurance companies, insurtech, and technology companies on a wide array of regulatory, compliance, and strategic matters.
Responsables de la pratique:
Alexander Dye; John Schwolsky
Les références
‘Willkie Farr’s insurance industry practice led by John Schwolsky is quite simply best in class in all respects. This team, and in particular, John, combines first rate expertise in securities regulation with international US and US state insurance regulation, mergers and acquisitions services, and industry lore and insights in a way unmatched by their competitors. Simply put, John is the best in the world and what he does.’
‘The WFG US team is extremely competent, highly responsive, very experienced and a pleasure to deal with. The team led by David Luce is well resourced with new associates being brought on who are increasingly able to handle complex matters in a timely and professional manner.’
‘I have worked with the Willkie noncontentious insurance practice group for many years. They are, in my view, unquestionably the best firm I have worked with in this area. They are highly experienced, very smart, client-service oriented, business savvy, sensitive to client legal fee considerations, quite responsive and easy to work with. They are in great demand with respect to insurance transactional work, and it is easy to understand why. I would enthusiastically and unconditionally recommend them to anyone seeking highly capable legal counsel in this area of the law.’
Principaux clients
Alleghany Corporation
Allied World Assurance Company Holdings, Ltd
Aquiline Capital Partners
Assured Guaranty
California State Automobile Association
CNO Financial
CVS/Aetna
Dai-ichi Life Insurance Company
Delaware Life Insurance Company of New York
eHealth
Fidelity National Financial, Inc.
First American Financial Corporation
FIS
FTV Capital
General Motors/OnStar Insurance
Generali
KKR & Co.
Metromile
Mitsui Sumitomo Insurance Co.
Mutual of Omaha
Nationwide
New York Life
Next Insurance
NORCAL Mutual
Protective Life Corporation
QBE Insurance
Rhino Insurance
Sixth Street
Spinnaker Insurance Company
Stone Point Capital
Telenav
TigerRisk Partners LLC
Travelers
Truist Insurance Holdings, Inc.
Trupanion
Velocity Risk
Versant Health
Volante Global
Voya Financial, Inc.
W.R. Berkley Corporation
Principaux dossiers
- Advised Alleghany Corporation in its acquisition by Berkshire Hathaway for approximately $11.6 billion.
- Advised Prudential Financial, Inc. on its agreement to reinsure a $12.5 billion guaranteed universal life block with Somerset Re.
- Advised Warburg Pincus in the launch of Prismic Life Reinsurance, Ltd. with Prudential Financial, Inc.
Latham & Watkins
Supported by the addition of Gary Boss and his team from Clifford Chance, Latham’s insurance practice represents some of the largest global insurers and reinsurers, private equity firms, top-tier asset managers, and financial investors in the insurance and broader financial services sectors. This client portfolio complements Latham’s existing strong insurance and private equity client base, bolstering the firm’s position as a comprehensive solution provider for clients seeking guidance on intricate transactions. Based in New York, Boss specializes in private equity insurance M&A and the establishment of capital raises for new companies in the insurance and reinsurance sectors. He adeptly advises clients and their portfolio companies on navigating today’s highly regulated markets, both locally and internationally. Other key figures in the practice include Analisa Dillingham, based in New York, who focuses on alternative capital work, insurer investments, Insurtech, and insurance regulatory matters. Meanwhile, also in New York, Kirsten Gaeta brings her expertise in corporate and transactional matters alongside regulatory expert Benjamin Lee and Teresa Wendel offering extensive experience working with major P&C and life and health insurers and reinsurers. Additionally, counsels Alexander Traum and Dean Agnos, also based in New York, further strengthen the practice.
Responsables de la pratique:
Gary Boss
Autres avocats clés:
Analisa Dillingham; Kirsten Gaeta; Alexander Traum; Dean Agnos; Teresa Wendel; Benjamin Lee
Principaux clients
Apollo
Leonard Green & Partners
The Carlyle Group
J.P. Morgan
Harrington Reinsurance Holdings Limited and Harrington Re Ltd.
Reinsurance Group of America
AXIS
Aegon
Mubadala Investment Company PJSC
William Penn Life Insurance Company of New York
Principaux dossiers
- Advised Apollo on the purchase by Apollo affiliated insurance companies, third-party insurance managed accounts, and other institutional clients of $500 million of surplus notes issued to a wholly owned indirect subsidiary of Reinsurance Group of America, Incorporated.
- Advised Stone Point Credit, the credit-investing platform of alternative investment firm Stone Point Capital, and AXIS Capital (NYSE: AXS), a global specialty underwriter and provider of insurance and reinsurance solutions, together with its direct and indirect subsidiaries and branches, in the launch of Monarch Point Re, a newly created collateralized reinsurer.
- Advised Reinsurance Group of America, Incorporated (“RGA”), a global leader in mortality risk with more than $3 trillion of life reinsurance in force, on the structuring, formation and capital raise of a new Missouri-based reinsurance vehicle sponsored by RGA.
Mayer Brown
Praised for their ‘excellent credentials, breadth, and depth in their coverage,’ Mayer Brown offers closely integrated cross-border teams that advise on some of the most significant deals in the market. Leading the practice from New York, David Alberts and Stephen Rooney co-head the team, with Alberts specializing in work for both the life and non-life insurance sectors, while Rooney represents insurers and underwriters in domestic and international offerings of debt, equity, and hybrid securities. Other key figures in the New York practice include Vikram Sidhu, who brings extensive experience in transactions involving both US and non-US entities across various lines of insurance, and Yuliya Feldman, renowned for her assistance to clients in formation and licensing, product and program development, (re)insurance transactions, cybersecurity compliance and insurance regulatory filings associated with corporate changes. Additionally, with the recent additions of partners Jared Wilner from Locke Lord LLP, former NY Department of Financial Services partner Justin Herring, and Allison Lee from Debevoise & Plimpton LLP, the firm has further strengthened in New York.
Responsables de la pratique:
David Alberts; Stephen Rooney
Les références
‘Mayer Brown is a fantastic law firm. I have worked with hundreds of firms throughout my career and Mayer Brown is the best. Their insurance regulatory practice combines premier relationships and superior subject matter expertise. They are unbelievably responsive and almost always pick up the phone whenever I call or return my message shortly.’
‘The Mayer Brown team has excellent credentials, breadth and depth in their coverage of the insurance-linked securities space. The partners and associates are highly familiar with the issues, provide reliable and consistent advice, are proactive and responsive, and take a commercial perspective to complex transactions.’
‘Mayer is the most well-rounded insurance and reinsurance corporate bench in the industry. Full-service firm that makes it tough to consider anyone else.’
Principaux clients
The Hartford Financial Services Group, Inc.
Beazley Group
Equitable
AIG
Nationwide Mutual Insurance Company
Tokio Marine
Munich Re
Partner Re
Chubb
QBE
Principaux dossiers
- Advised QBE Insurance Group Limited in the sale of its diversified portfolio of business to Enstar Group Limited.
- Advised Randall & Quilter in the formation of a new joint venture with Obra Capital and the acquisition of a wholly owned subsidiary, Mine Safety Appliances Company, LLC, from MSA Safety Incorporated.
DLA Piper LLP (US)
DLA Piper LLP (US), led by Aidan McCormack in New York, encompasses a multidisciplinary team proficient in all facets of transactions involving insurers, reinsurers, MGAs, brokers, and insurtech companies. In addition to transactional work, the practice aids fund managers and insurance companies in establishing insurance-focused funds and investments. Leveraging their global reach, the team is adept at supporting clients in intricate cross-border engagements, often advising on global M&A, private equity/venture capital, corporate, and finance attorneys to offer comprehensive advice. In Chicago, Stephen Schwab focuses on international trade, particularly in insurance and reinsurance regulation, compliance, transactions, dispute resolution, and receiverships, while David Mendelsohn brings extensive experience representing insurers, reinsurers, brokers, and other clients in various transactions, including complex regulatory matters and mergers and acquisitions. Furthermore, key figures such as Matthew Gorra, based in Baltimore, offer transactional expertise across a broad range of industries, advising both private and public clients from both seller and buyer perspectives.
Responsables de la pratique:
Aidan M. McCormack
Les références
‘Generally, potential clients should be interested in the following about DLA Piper: very good consulting skills throughout the phases of an engagement, ability to assess and position a case if it is likely to go to the next phase (e.g., depositions and trial), and full-team trial experience. DLA Piper always is a top tier firm and performer (at all staffing levels).’
‘The group is hard-working, professional, and organized all while maintaining a pleasant demeanor.’
Principaux clients
Trustmark Companies
The Horton Group
Delaware Life Insurance Company
Clear Springs Life Assurance Company
HUB International, Ltd.
American Family Insurance Group
Capital & Co. Insurance Services LLC
EquiTrust Life Insurance Company
SCOR Reinsurance Company
USQRISK, LLC
Tokio Marine Kiln
Principaux dossiers
- Achieved a settlement of an offset plan on behalf of 50+ reinsurance counterparties in the Scottish Re U.S., Inc. rehabilitation in the Delaware Chancery Court and closed on a settlement of COVID-19 grace period extensions, resolved disputes over the standard for review of a proposed rehab plan, and are actively engaged in the development of an amended rehabilitation plan.
- Representing and advising Israeli, Bermudan, and US debtors in Delaware bankruptcy arising out of multi-billion-dollar reinsurance security and investment transactions, most of which were fraudulent.
- Advised Sydney-based public company, Steadfast Group in their first US acquisition and first entry into the US market.
King & Spalding LLP
King & Spalding LLP combines transactional and regulatory expertise, handling complex, interdisciplinary domestic and international mergers and acquisitions, reinsurance, and other transactions, bolstered by the team’s close collaboration with the firm’s international corporate and private equity practices. Bernhardt Nadell, based in New York, leads the practice, focusing on insurance industry mergers and acquisitions, insurance-linked securities transactions, reinsurance, insurance law and regulation, and general corporate matters. He also represents insurers and reinsurers in corporate and regulatory affairs. Supporting Nadell in New York is Gary Ho, who brings extensive experience representing acquirers and sellers, including private equity firms, insurers, reinsurers, and international financial firms, in various complex insurance-related transactions, including acquisitions of run-off companies, insurance producers, claim adjusters, annuity business, and sponsored demutualizations.
Responsables de la pratique:
Bernhardt Nadell
Principaux clients
T&D Holdings, Inc./T&D United Capital North America Inc.
Atlas Merchant Capital
Obra Capital Inc.
Crédit Agricole Corporate and Investment Bank
Capital One
MAG Mutual Insurance Company
Nomura Holdings, Inc.
Catalina Holdings (Bermuda) Ltd
Arrowpoint Capital Corp.
Munich RE
ACON Investments
Trive Capital
CURO Group Holdings Corp.
Taiyo Life Insurance Company
T&D Financial Life Insurance Company
Afiniti, Inc.
Paceline Equity Partners
Highbridge Capital Management
Blackstone Securities
Leadenhall Capital
Kirkland & Ellis LLP
Kirkland & Ellis LLP‘s insurance practice offers comprehensive guidance on a variety of high-profile transactions, including M&A, reinsurance, joint ventures, securities offerings, and regulatory matters. Serving a diverse clientele that includes insurers, reinsurers, private equity firms, InsurTech firms, and other participants in the insurance industry, the firm provides tailored solutions to meet the specific needs of each client. Based in New York, Rajab Abbassi brings extensive experience in corporate transactions within the insurance sector, as well as expertise in strategic and governance matters. Parimah Hassouri, also in New York, complements the practice with a focus on insurance regulatory matters, providing regular counsel to both US and international insurers on a wide range of regulatory and corporate issues across various insurance sectors. Her client base encompasses entities operating in life, health, property and casualty, and title insurance industries, as well as private equity funds and other sponsors. Another key member, Kimberly Meng Han, also operating from New York, specializes in representing public companies, private equity sponsors, and private entities in a diverse array of complex business transactions, with a particular emphasis on the insurance industry.
Autres avocats clés:
Rajab Abbassi; Parimah Hassouri; Kimberly Meng Han
Les références
‘The K&E insurance practice is extremely knowledgeable, hardworking and responsive. They are commercial and constructive (have helped us solve difficult issues without compromising the integrity of our transaction) and clearly have a solid grasp of the fundamental issues at hand.’
‘Rajab Abbassi is the primary partner we work with – he is tireless in his efforts, extremely knowledgeable and works well with us and opposing counsel. This trifecta makes him unique and is why we he is one of our go-to lawyers in the insurance transactions space.’
Principaux clients
Abry Partners
Accretive Insurance Solutions
Antarctica Capital
Apax Partners
Bain Capital Insurance
Braemont Capital
Brightstar Capital
Castlelake, L.P.
Clayton, Dubilier & Rice
Clearcover
Davidson Kempner
Francisco Partners
HGGC
Old Republic
Ryan Specialty Group
VSP Vision
McDermott Will & Emery LLP
McDermott Will & Emery LLP‘s insurance team brings seasoned expertise to transactional, regulatory, and dispute resolution matters. Supported by a cross-border team, it offers practical support to insurers, private equity investors, and holding companies, guiding them through sales, purchases, and mergers while navigating regulatory complexities. The team also specializes in insurtech, tackling challenges such as multi-state regulatory approvals, cybersecurity, social media, intellectual property, and big data ownership. Based in New York, Michael Halsband leads the practice, bringing deep experience covering a wide array of areas within the insurance industry, from insurance broker and carrier M&A to new company formation, capital raises, complex structured transactions, and insurance-linked securities. Supporting the practice from New York, Michael Byrne represents domestic and international clients in change of control transactions, licensing and structuring, product development, and regulatory approvals, while also being a recognized leader in the insurtech space. Additionally, Thomas Dawson serves as a trusted advisor on regulatory approvals and compliance matters, with a particular focus on ESG issues, further enhancing the team’s capabilities.
Responsables de la pratique:
Michael R Halsband
Autres avocats clés:
Michael Byrne; Thomas Dawson
Les références
‘The team have a commercial approach, are knowledgeable, reliable and practical in respect of the advice/service provided.’
‘Tom Dawson is very knowledgeable and can provide quick responses to specific queries.’
‘The team at MWE (in particular Michael Byrne and Michael Halsband) are imminently practical and give actionable advice. They do an exceptional job of not only helping me scope the issues but also identifying solutions that I can take back to my team to help identify the best path forward.’
Principaux clients
Transverse Insurance Group LLC
Strategic Risk Solutions, Inc.
Assurant, Inc
Capstone Insurance Services, LLC
LogRock Inc.
General Atlantic
Liberty Mutual Insurance Company
Oka
Antidote Health
Embedded Insurance (EI)
Tacora Capital
Great Lakes Insurance SE
XL Bermuda Ltd
Partner Reinsurance Limited
Britannia Steam Ship Insurance Association