Debevoise & Plimpton LLP excels in supporting transactions in the insurance market, representing insurers, reinsurers and private equity funds involved in high value M&A and financing deals, while also offering assistance with complex pension risk transfers and cross-border deals. Regulatory issues, including insurance regulator and attorneys general investigations, are also among the practice’s areas of focus. Marilyn Lion and Nicholas F. Potter lead the practice, with both being noted for their expertise in advising on insurance industry transactions, including M&A and financing transactions. Alexander Cochran handles M&A, financing and pension risk transfer deals, while David Grosgold is valued by clients for his expertise in overseeing international M&A, joint venture, reinsurance and bancassurance transactions between the USA, Latin America and Asia. John M. Vasily retired in 2022. All lawyers mentioned are based in New York.
Insurance: non-contentious in United States
Debevoise & Plimpton LLP
Practice head(s):
Marilyn Lion; Nicholas F. Potter
Other key lawyers:
Alexander Cochran; David Grosgold
Testimonials
‘The Debevoise team has worked closely with various teams within the organization and have become our trusted legal advisors. The level of service provided and interactions are more akin to the team being a de facto internal legal team, stepping up to support the internal teams whenever needed with exceptional service, turnaround times and in-depth knowledge of the industry providing commercial, pragmatic and practical advice.’
Key clients
American International Group
Axar Capital Management LP
Constellation Insurance Holdings
Covéa Mutual Insurance Group
Fortitude Group Holdings LLC
Global Atlantic Financial Group
James River Group Holdings, Ltd.
John Hancock Life Insurance Company
LIBERTY Dental Plan Corporation
Manulife Financial
Oaktree Capital Management, L.P.
Prudential Financial Inc.
Resolution Life US Matters
Sun Life Financial Inc.
The Blackstone Group
The Travelers Companies, Inc.
Wilton Re Group
Work highlights
- Advised Global Atlantic Financial Group in connection with its $10 billion annuity reinsurance transaction with Equitable Financial Life Insurance Company to reinsure a portion of its group retirement annuities.
- Advised Blackstone on the sale of the U.S. operations of Lombard International.
- Advised Prudential Financial in a pension risk transfer deal with IBM.
Eversheds Sutherland
Eversheds Sutherland advises clients on major cross-border transactions and is well-versed in handling regulatory issues, including representing clients before numerous federal bodies. In addition to representing clients involved in mergers and acquisitions, the firm handles complex pension risk transfers and reinsurance deals, assisting clients in managing their plans’ liabilities. The practice leadership is based in New York and consists of regulatory compliance, acquisitions, dispositions and restructurings specialist John S. Pruitt, M&A expert Bert Adams and Ling Ling, who splits her time between New York and Washington D.C., advising on insurance, reinsurance and financing transactions. Cynthia R. Shoss is an experienced regulatory specialist, while Jim Dwyer supports clients with the full spectrum of insurance-related transactions. Dan Brown joined the firm from McDermott Will & Emery LLP in August 2022, advising on corporate and regulatory insurance issues out of the firm’s newly opened San Francisco office.
Practice head(s):
John S. Pruitt; Bert Adams; Ling Ling
Other key lawyers:
Cynthia R. Adams: Jim Dwyer; Daren Moreira; Dan Brown
Key clients
Allianz
Allstate
Arch Capital Group
Associated Electric & Gas Insurance Services
Capital One
Columbian Mutual Life Insurance
Empower Retirement
Fairfax Financial
Further Global
GIC
Great-West Life & Annuity Insurance
Horace Mann Educators
Legal & General
MassMutual
MunichRe and Munich America Reassurance Corporation
Mutual of America Life Insurance
National Western Life Insurance
Pacific Life
Pan American Life
Pension Insurance Corporation
Phoenix Life
Resolution Life
Royal & Sun Alliance
Security Benefit Life
Symetra Financial Corporation
Talcott Resolution
Unum
Venerable Annuity
Voya Financial
Western & Southern Life
Wilton Re
Zurich Insurance Group
Work highlights
- Represented Allianz on a competitive auction process, entering into a transaction to reinsure a US$35-billion fixed index annuity portfolio that its subsidiary Allianz Life Insurance Company of North America has written.
- Advised Empower on its acquisition of Prudential’s full-service retirement plan recordkeeping and administration business for a total transaction value of US$3.55 billion.
- Advised Resolution Life’s board of directors on entering into a strategic partnership with Blackstone.
Willkie Farr & Gallagher LLP
Willkie Farr & Gallagher LLP handles a broad spectrum of insurance-related transactions, advising life and property-casualty insurers and reinsurers, private equity investors and banks on mergers and acquisitions and restructuring matters, but with particular strengths in the capital markets and alternative risk transfer fields. The practice is also well-versed in insurance security offerings and offers a strong regulatory service. The team is led by Alexander Dye, who advises on insurance-related M&A and capital market deals in addition to reinsurance matters, and John Schwolsky
, who specializes in M&A and demutualization transactions and restructuring matters. Michael Groll
is an experienced corporate and securities practitioner, handling public and private securities offerings. Kara Baysinger, who splits time between the San Francisco and Chicago offices, handles regulatory matters including compliance and investigations. All lawyers are New York-based unless otherwise specified.
Practice head(s):
Alexander Dye; John Schwolsky
Other key lawyers:
Michael Groll; Kara Baysinger
Testimonials
‘The WFG Corporate/Insurance team has a great range of knowledge and depth of experience; they are commercial and pragmatic; responsive and a pleasure to deal with.’
‘Willkie’s insurance practice, headed by John Schwolsky, is easily the best I have worked with over many years. John and his team at Willkie have been involved in most of the major insurance M&A transactions in recent years and this has enabled them to bring a level of experience, knowledge and judgment unmatched by other firms.’
‘John Schwolsky has been a leader in the non-contentious insurance practice world for many years, and his judgment, knowledge, and business and legal sophistication all reflect this. John is highly responsive, always available, an analytical and yet pragmatic thinker, and a genuinely collaborative partner. I cannot recommend him highly enough.’
Key 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
eHealth
Fidelity National Financial, Inc.
First American Financial Corporation
FIS
General Motors/OnStar Insurance
Generali
KKR & Co.
MetLife, Inc.
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
Zurich Insurance Group
Work highlights
- Advised Alleghany Corporation on its $11.6 billion acquisition by Berkshire Hathaway.
- Represented Sixth Street in its agreement alongside Resolution Life to reinsure a $35 billion fixed index annuity portfolio of Allianz Life.
Latham & Watkins
Latham & Watkins strengthened its insurance practice with the June 2022 additions from Clifford Chance of reinsurance and insurance capital raising expert Gary Boss, who heads the team, insurer investments and alternative capital specialist Analisa Dillingham and Kirsten Gaeta, who focuses her practice on M&A and capital market transactions in addition to joint ventures. Counsel Dean Agnos supports clients engaged in public and private mergers, stock and asset transactions and start-ups. At associate level, Lily Phan advises property and casualty, life and health insurers on a variety of transactions and corporate matters. The practice advises insurers, reinsurers and private equity investors on complex transactions, including reinsurance and restructuring matters that have ties to markets in Bermuda and the UK among others. Furthermore, the practice has extensive experience handling the establishment of new insurance companies, in particular with regard to alternative capital strategies. On the regulatory front, the firm is active in advising on governance and licensing issues. All lawyers mentioned are based in New York.
Practice head(s):
Gary Boss
Other key lawyers:
Analisa Dillingham; Kirsten Gaeta; Dean Agnos; Benjamin Lee; Lily Phan
Testimonials
‘Very knowledgeable and practical team who are aware of current regulatory developments and can proactively provide insight relevant to the business. Quite different than many I have worked with who just respond to questions. Responsive, thoughtful and nice people to work with.’
‘Gary Boss is very in tune with insurance market developments, regulatory matters and the perspective of investors in the insurance space. Using this, he is very helpful in identifying market developments might create opportunities for the firm and how we might take advantage of those opportunities. Again, proactive thinking as opposed to reactive. Very available, upfront and honest.’
‘This team offers real expertise in credit insurance, which is not something that all firms with an insurance practice can provide.’
‘Benjamin Lee is incredibly knowledgeable about credit insurance and has provided us with valuable insights in drafting insurance policy language. Whenever an issue arises, he is quick to offer a solution, and makes himself available when needed. Even when we have short time deadlines, Benjamin is always very responsive. He is always willing to take time to discuss and talk through issues and solutions. We certainly always feel like valued clients when we work with Benjamin.’
‘Gary Boss has an outstanding industry knowledge and has been supporting our company for a number of years. He is able to advise in a functional and pragmatic manner on a number of operational and legal issues. His team is excellent too with an impressive response speed and quality of product.’
‘Excellent knowledge of the legal laws and regulations as well as the regulatory environment of the insurance industry in the US and Bermuda.’
‘Gary Boss and Analisa Dillingham are both excellent partners.’
‘Gary Boss has an amazing ability to synthesize complex issues and get directly to the critical matters. He is not afraid to make recommendations. He is also one of the most pleasant people (not just limited to lawyers) that I have ever worked with. Analisa Dillingham is incredibly efficient and knowledgeable on all regulatory matters. When she tells us something, I have 100% confidence in the answer.’
Key clients
Apollo Management, L.P.
Aquiline
Sedgwick
Somers Group Holdings Ltd and Somers Re Ltd.
Harrington Reinsurance Holdings Limited and Harrington Re Ltd.
Reinsurance Group of America
Fortitude
Stone Point
Bayview
Partners Group
Work highlights
Mayer Brown
The ‘flexible and adaptable’ Mayer Brown team works with the firm’s offices around the world to support clients with transactional, regulatory and compliance matters in the insurance market. In addition, the practice has experience advising on capital raising, product development and technological transformations. The team is led by David Alberts, advising on M&A, life and non-life reinsurance, regulatory issues and heading the firm’s insurtech initiative, and Stephen Rooney, who assists with securities offerings, structured finance and M&A deals; both are New York-based. Insurance transactions specialist Vikram Sidhu, also based in New York, rejoined the firm from Clyde & Co in May 2022, focusing his practice on the sale and acquisition of insurance and reinsurance companies in addition to regulatory matters.
Practice head(s):
David Alberts; Stephen Rooney
Other key lawyers:
Vikram Sidhu
Testimonials
‘I have found the Mayer Brown team to be flexible and adaptable. I appreciate that they are able to adjust their communications to suit whatever is best for their clients. They have a well-rounded understanding of the insurance transactional landscape. They have also been able to leverage the firm’s incredible expertise in other subject matters to provide well-rounded support for transactions.’
‘Vikram Sidhu is wonderful to work with. He is easy to communicate with and always responds quickly. His work is high quality and he is a great partner who is able to evaluate things from both a legal and commercial perspective and provide good advice with both considerations.’
‘The Mayer Brown insurance team is one of the best in the country. They have a wonderful level of knowledge of the ins and outs of the insurance industry, and they are able to apply that knowledge in delivering practical and commercially feasible advice.‘
Key clients
The Hartford Financial Services Group, Inc.
Beazley Group
Equitable
AIG
Nationwide Mutual Insurance Company
Tokio Marine
Munich Re
Partner Re
Chubb
QBE
Work highlights
- Represented QBE in the sale of its book of North American excess and surplus lines insurance business.
- Advised clients on significant insurance-linked securities offerings, including acting on 29 catastrophe bond transactions since November 2021, raising in aggregate approximately US $6.733 billion of risk capital.
- Represented Chubb in connection with $1.6 billion offering of senior notes.
Skadden, Arps, Slate, Meagher & Flom LLP
Insurers, reinsurers and private equity firms trust Skadden, Arps, Slate, Meagher & Flom LLP for advice on regulatory and transactional insurance matters, including national and cross-border deals, in addition to financial and operational concerns. The practice includes integrated tax and regulatory teams, allowing the firm to advise on all aspects of complex deals, ranging from acquisitions and dispositions of insurance brokers, third party administrators and MGAs, joint ventures and reinsurance transactions. The New York-based team is led by Todd E. Freed, whose practice focuses on assisting insurance companies and private equity firms with high value transactions, Elena M. Coyle, who advises life and annuity, health, long-term care, property and casualty and surety market clients on M&A, reinsurance matters and regulatory issues and M&A and private equity specialist Jon A. Hlafter. Patrick J. Lewis, elected partner in April 2022, is noted for his representation of clients involved in high value M&A.
Practice head(s):
Todd E. Freed; Elena M. Coyle; Jon A. Hlafter
Other key lawyers:
Patrick J. Lewis
Bryan Cave Leighton Paisner
In addition to advising insurers, private equity funds and capital market clients on insurance, reinsurance and M&A, Bryan Cave Leighton Paisner also supports clients with navigating regulatory frameworks and dealing with emerging insurtech. The practice also assists with the formation of new companies and innovative insurance products, including reinsurance policies and financing, captive insurance solutions and alternative insurance distribution arrangements. In Kansas City, Jodi Adolf is an experienced regulatory specialist, supporting a wide range of sectors including life, health and property insurers and is also called upon by state regulators to handle insurance receiverships and runoffs.
Practice head(s):
Ken Achenbach; Brent Vincent; Robert Brunner
Other key lawyers:
Jodi Adolf
Key clients
Google, Inc.
McCarthy Capital
ReAlign Insurance Holdings, LLC
Fidelity Security Assurance Company
Buckle Holdings, Inc.
Accelerant Holdings
Lumbermen’s Underwriting Alliance in Receivership
Fleming Reinsurance Ltd.
Embark General Insurance Agency and Nations General Insurance Agency
EyeMed Vision Care LLC
Acrisure Holdings, Inc.
QBE
Altamont Capital Partners
Aflac
Reinsurance Group of America (RGA)
BCS Financial
Fidelity Security Life Insurance Company
Berkshire Hathaway
The Wawanesa Mutual Insurance Company
The Progressive Group
RiverStone Resources
TIG Insurance Company
Clear Spring Property & Casualty Company
James River Group Holdings Ltd.
FB Corporation/First Bank
RiverStone International
Quility Holding, LLC
Work highlights
- Represented the Missouri Liquidator for Lumbermen’s Underwriting Alliance in the resolution of the ownership of large deductible recoveries arising from claims paid by state insurance guaranty associations on large deductible worker’s compensation policies.
- Advised EyeMed regarding a major phishing-related data breach.
- Represented James River Group Re in a Loss Portfolio Transfer Retrocession Agreement valued at approximately $335 million.
DLA Piper LLP (US)
DLA Piper LLP (US) is valued by clients for its ‘deep industry knowledge,’ advising clients on mergers, acquisitions, divestitures, and reorganizations in addition to providing corporate support. On the regulatory front, the team assists clients with state, federal, and international insurance and reinsurance compliance. New York-based practice head Aidan McCormack is the global co-chair of the firm’s insurance practice, advising on cross-border transactional and regulatory issues. Chicago’s David Mendelsohn‘s practice centers on transactional and regulatory matters, while Stephen Schwab, also in Chicago, specializes in international insurance and reinsurance regulation and compliance.
Practice head(s):
Aidan McCormack
Other key lawyers:
David Mendelsohn; Stephen Schwab
Testimonials
‘Deep industry knowledge and the ability to service clients cross border on complex deals and matters using the extensive DLA network.’
‘David Mendelsohn – experienced, reassuring and great to work with on both a professional and individual level.’
Key clients
NextLevel Health Partners
Trustmark Companies
The Horton Group
Delaware Life Insurance Company
Clear Springs Life Assurance Company
HUB International
American Family Mutual Insurance Company, S.I.
Capital & Co. Insurance Services LLC
EquiTrust Life Insurance Company
King & Spalding LLP
King & Spalding LLP represents clients involved in insurance and reinsurance transactions, including M&A and associated regulatory matters, working alongside the firm’s corporate and private equity practices to advise on national and international acquisitions and investments. The practice is led by Bernhardt Nadell in New York, who advises on insurance industry mergers and acquisitions, insurance-related securities transactions, reinsurance matters, insurance law and regulation and corporate issues. Counsel Gary Ho, also based in New York, assists with insurance transactions.
Practice head(s):
Bernhardt Nadell
Other key lawyers:
Gary Ho
Key clients
T&D Holdings, Inc./T&D United Capital North America Inc.
Atlas Merchant Capital
Vida 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
Work highlights
- Represented T&D United Capital Co., Ltd in a $2.1 billion co-investment transaction with Singapore sovereign wealth fund GIC, various other sovereign wealth funds and pension plans, and The Carlyle Group.
- Represented a leading Japanese life insurance company in a $2 billion reinsurance transaction with Fortitude International Reinsurance Company Ltd.
Kirkland & Ellis LLP
Kirkland & Ellis LLP advises insurers, reinsurers and private equity funds on a variety of insurance-related transactions ranging from M&A, reinsurance, joint ventures and securities offerings. Furthermore, the firm offers support in regard to the regulatory aspect of transactions, and is also increasingly active in representing insurtech firms. Rajab Abbassi has significant experience in handling complex cross-border transactions including strategic investments and is also called upon to advise boards of directors on governance issues. Regulatory matters are the domain of Parimah Hassouri, who supports clients across the the life, health, property and casualty, financial guaranty, mortgage guaranty and title insurance industries with the regulatory aspects of transactions, formation and licensing of new companies, governance and compliance. All lawyers mentioned are based in New York.
Other key lawyers:
Rajab Abbassi; Parimah Hassouri
Key clients
Martello Re
Wilton Re Limited
ORIX USA
Metromile
Centerbridge Partners
Root, Inc.
Insurance Supermarket
Special Committee of the Board of Directors of State Auto
Financial Corp.
Thomas H. Lee Partners and AmeriLife
GI Partners
AssuredPartners, Inc.
Flexpoint Ford, LLC
VSP Vision
Doma Holdings Inc.
Work highlights
- Advised Centerbridge Partners and Martello Re Limited on the launch of Martello Re.
- Advised Wilton Re on its acquisition of Allstate Life Insurance Company of New York.
- Advised Metromile on its agreement to be acquired by insurance company Lemonade in an all-stock transaction.
McDermott Will & Emery LLP
Cross-border insurance M&A is the focus for the team at McDermott Will & Emery LLP, which advises insurers, private equity investors and holding companies on the sales, purchases and mergers of insurance companies, in addition to providing regulatory support. The firm is also well-versed in handling insurtech matters, assisting both new and established clients with corporate, tax and regulatory issues. Practice head Michael Halsband is a highly experienced insurance and reinsurance industry specialist, with particular expertise in transactional mandates. Michael Byrne is the team’s insurtech specialist, also handling transactional and regulatory matters. All lawyers mentioned are New York-based.
Key clients
Transverse Insurance Group LLC
United Services Automobile Association
Team Focus Insurance Group
M.J. Hall & Co., Inc. and M.J. Hall & Company of Alaska, Inc.
Tarmika, Inc.
Panorama Insurance Group
WeSure Digital Insurance Service
Volery Capital Partners
Swiss Re Group
CHW Acquisition Corporation
Comvest Partners/Robbins
Crouse and Associates Insurance Brokers, Inc.
Work highlights
- Represented Transverse Insurance Group LLC in its acquisition by Mitsui Sumitomo Insurance Co., Ltd., a member of the MS&AD Insurance Group.
- Assisted United Services Automobile Association in its acquisition of California-based insurtech firm Noblr, Inc.
- Represented Team Focus Insurance Group in its sale to PEAK6 InsurTech, a subsidiary of Chicago-based financial technology business PEAK6.