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Debevoise & Plimpton LLP

919 THIRD AVENUE, NEW YORK, NY 10022, USA
Tel:
Work +1 212 909 6000
Fax:
Fax +1 212 909 6836
Email:
Web:
www.debevoise.com

Alexander Cochran

Tel:
Work 212 909 6311
Email:
Debevoise & Plimpton LLP

Work Department

Financial Institutions, Insurance, Insurance Capital


United States: Industry focus

Insurance: non-contentious

Within: Next Generation Partners

Alexander Cochran - Debevoise & Plimpton LLP

Within: Insurance: non-contentious

Debevoise & Plimpton LLP is 'well known and highly thought of' for its insurance sector expertise in connection with M&A transactions, financings and capital markets matters, as well as tax and regulatory advice. Major recent highlights for the team have seen John Vasily and David Grosgold advise AXA on its $15.3bn acquisition of Bermuda-based insurer XL Group, while also acting for AIG on its $5.56bn purchase of Validus Group. Thomas Kelly led for Global Atlantic Financial Group on the reinsurance of $9bn worth of fixed annuities and reserves of Talcott Resolution, The Hartford’s run-off life and annuity businesses, following its sale to a group of investors. Nicholas Potter advised Morgan Stanley & Co on its role as financial advisor to Assurant in relation to its $2.5bn acquisition of The Warranty Group. Alexander Cochran and Marilyn Lion, who act for clients such as Wilton Re and The Carlyle Group, are up-and-coming partners in the insurance transactions space. All mentioned partners are based in New York.

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)

Within: Next Generation Partners

Alexander Cochran - Debevoise & Plimpton LLP

Within: M&A: large deals ($1bn+)

Debevoise & Plimpton LLP is commended for the 'sophistication and scope' of its practice. It continues to impress in a range of sectors, especially healthcare, TMT, insurance and financial institutions, and private equity. The firm has worked hard to develop its sector expertise over the last decade, streamlining efforts with certain M&A practitioners given the task of focusing on individual industries alongside colleagues from other departments. Few firms now have the same level of combined M&A and regulatory expertise in its chosen focus sectors. Clients include Discovery Communications, Johnson & Johnson, HCA, International Paper, Pitney Bowes, Tribune Media, Time and Verizon Communications. In a uniquely complex transaction, involving multiple moving parts, it advised long-term private equity client Clayton, Dubilier & Rice on its $2.4bn acquisition of New York-listed Ply Gem in a take private transaction alongside a parallel purchase of Atrium Windows & Doors and then merger of Atrium with Ply Gem. It followed this deal with a series of add-on transactions for Ply Gem culminating in its $5.5bn stock-for-stock combination with NCI Building Systems. In the mega-deal space, it advised Discovery Communications on its $14.6bn acquisition of Scripps Networks Interactive and further illustrated its expertise in the media sector with a number of deals for Tribune Media including its proposed $6.6bn sale to Sinclair Broadcast Group, which was eventually terminated. The senior team has expanded considerably in recent years with a series of partner promotions, including Sue Meng, who is 'a strong lawyer who gets amazing amounts of work done', Uri Herzberg, Alexander Cochran and Jennifer Chu. It now has 'a fantastic mix of senior lawyer oversight with outstanding transaction lawyers and associates', which are praised for their 'brilliance and interpersonal skills'. Clients also highlight 'the level of integration and coordination among the practice areas', which 'operate seamlessly with one another on the various aspects of a deal'. Jeffrey Rosen is 'a brilliant strategist and negotiator' and Paul Bird is another senior name with a wealth of big transaction experience. Practice co-head Michael Diz is 'a strong and capable young partner', 'demonstrates a long-term commitment to  learn and truly understanding clients' businesses and strategies' and 'develops positive working relationships with in-house counsel and business leaders'. Kevin Rinker, who also co-heads the M&A group, has an excellent record in healthcare deals. Also recommended are Gregory Gooding and William Regner, the latter of whom has been noted as 'another strong corporate finance and M&A professional'.

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Legal Developments by:
Debevoise & Plimpton LLP

  • Anomalies of insurance law

    Although the courts are often at pains to point out that insurance law is merely a subset of general contract law and should be applied without any concession or discrimination simply because the subject matter is insurance, there are, in fact, several aspects that are peculiar to insurance. An understanding of these anomalies will assist in penetrating the sometimes arcane depths of insurance law. They include:
    - Debevoise & Plimpton LLP

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