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DLA Piper LLP (US)

1251 AVENUE OF THE AMERICAS, NEW YORK, NY 10020-1104, USA
Tel:
Work +1 212 335 4500
Fax:
Fax +1 212 335 4501
Web:
www.dlapiper.com

David Luce

Tel:
Work +1 212 335 4735
Email:
DLA Piper LLP (US)

Work Department

Corporate and Finance

Position

Partner

Career

David Luce has over 18 years of experience with complex transactions and regulations as an attorney and investment banker. David's practice includes general insurance matters, M&A, securities offerings, structured finance, venture capital investments, and start-up and emerging growth companies in the fintech and insurtech sectors.

David has extensive experience in insurance industry transactions, including mergers and acquisitions, insurtech and venture capital, reinsurance, securities offerings, XXX, AXXX and embedded value financings of life insurance policy reserves, variable annuity hedging, sidecars, catastrophe bonds, transformer trades, insurance and weather-linked derivatives, longevity and mortality swaps and pension solutions. He has worked on transactions involving over US$23 billion in public insurance M&A and over US$10 billion in securities offerings, securitizations and other financings.

Education

JD, University of Virginia School of Law; BA, University of Virginia


United States: Finance

Structured finance: securitization

Within: Structured finance: securitization

DLA Piper LLP (US) stands out for its deep experience of CLO transactions. Indeed, led by Richard Reilly, the group serves as primary counsel to Ares Management as collateral manager and to Goldman Sachs as placement agent in their respective CLO activity. The department’s ABS expertise covers student loan and small business loan securitizations; in the Boston office, Andrew Sroka advised Kabbage on its $525m securitization secured by online small-business loans and merchant cash advances. Sroka also acted for Darien Rowayton Bank as sponsor in connection with multiple student loan securitizations. David Luce is another contact in the group.

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United States: Industry focus

Insurance: advice to insurers

Within: Insurance: advice to insurers

The ‘highly skilled’ New York-based team at DLA Piper LLP (US) provides a ‘high level of service and professionalism’ and is experienced in litigating and arbitrating large scale insurance and reinsurance industry disputes. Michael Murphy is the global chair of insurance and reinsurance, while the ‘solutions-orientedAidan McCormack, who is the North America chair of insurance and reinsurance, is ‘attentive and responsive’ to clients. McCormack is representing Brit Insurance in a bad faith and coverage litigation and arbitration case across California, Washington DC and London, arising from a $64m judgment in an underlying professional liability claim. Joseph Finnerty is representing Beazley in appellate litigation brought by plaintiffs who received an assignment of claims under a D&O policy that the client issued to a subprime mortgage lender. Chubb, AIG, Munich Re and AON are also clients. Mark Deckman, who is ‘outstanding’, Shand Stephens, Richard Hans, Megan Shea Harwick, Neal Kronley and David Luce are key contacts. Named lawyers are based in New York.

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Insurance: non-contentious

Within: Insurance: non-contentious

DLA Piper LLP (US) handles a range of complex transactions, including capital markets, joint ventures and M&A, and regulatory mandates in the insurance space. It is noted for its experience in advising insurance companies and those entering the insurance market on all aspects of capital investment and digital strategy. David Luce advised Swiss Re, as initial purchaser, in a $175m catastrophe bond offering sponsored by Security First Insurance Company, and advised Primerica in a $3.4bn disposition, by way of a highly structured, fully collateralized bulk reinsurance transaction, which transferred Primerica’s pre-IPO back book of insurance policies from Citi to Swiss Re. Global head of insurance transactions and regulation William Marcoux advised Blackstone on the formation of, and initial $600m capital raise for, Harrington Re, a joint venture between Blackstone and Axis Capital. Global chair of insurance and reinsurance Michael Murphy, tax expert Gerald Rokoff, Paul Chen in San Francisco, and of counsel Carl Poedtke in Chicago are key contacts. Former deputy general counsel at AIG Nicholas Kourides joined the team in 2017 as senior counsel. Named attorneys are based in New York unless otherwise stated.

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Legal Developments by:
DLA Piper LLP (US)

  • Sentencing guidelines for corporate manslaughter

    In February 2010 the Sentencing Guidelines Council (the SGC) issued definitive guidelines to courts on imposing appropriate sentences for corporate manslaughter and health and safety offences causing death. The SGC states that fines imposed on companies found guilty of corporate manslaughter should not fall below £500,000, while fines in respect of health and safety offences that are a significant cause of death should be at least £100,000. Crucially, the SGC declined to provide for a fixed link between the imposed fine and the turnover or profitability of the offending company.

    - DLA Piper UK LLP

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