Full-service market stalwart Carey is home to a nine-strong team that advises on the full range of insurance sector work. The insurance and reinsurance group acts for domestic and foreign insurance and reinsurance companies, brokers and policyholders across both contentious and non-contentious matters, as well as regulatory mandates. The department’s representative expertise covers market entry strategies, foreign companies’ restrictions, reinsurance alternatives and the structuring of distribution agreements. It also assists companies involved in bankruptcy scenarios; routinely handles large claims for insureds and insurers; and advises banks and insurance companies on significant bancassurance alliances. Other key areas include business interruption, surety and credit insurance, disability and survivorship insurance, directors and officers (D&O) policies, trade credit insurance, and representation and warranty (R&W) policies. Matías Vergara advises insurance and reinsurance companies on day-to-day matters and crisis management; his expertise includes Chilean market entry strategies, claims management, regulatory compliance, developing new business lines, bancassurance, dispute resolution, and insurance distribution and brokerage. Flanking Vergara, Pablo Iacobelli is an expert in insurance M&A and corporate regulatory work; while at associate level, senior Jorge Soto‘s practice encompasses regulatory, contractual and market-specific issues.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- 'The insurance team stands out for its ability to provide comprehensive, tailor-made advice that is well crafted to the specific transaction they are involved in. They do a very good job considering the diverse perspectives of all stakeholders involved, ensuring that the outcome is cohesive, and cater to the unique needs of each party, especially to their clients which sometimes have conflicting provisions with the sponsor’s view. The team is adept at accommodating different languages and viewpoints, delivering final wordings that are acceptable to all stakeholders while aligning with the lenders’ ultimate needs. Carey’s insurance team has deep knowledge and experience in handling complex transactions and they showed adaptability in providing solutions that meet the specific requirements of each stakeholder without losing focus on lenders’ needs.'
- 'The team is very open-minded and hands on. They are not "reactive" but rather very proactive, anticipating discussions and potential contentious matters, and the different team members all work well together providing unified responses to various different questions.'
Key clients
- Liberty Mutual
- MetLife
- Marsh
- Grupo Werthein - DirecTV
- Asociación de AFP de Chile
- Mapfre
- Enap
- Generadora Metropolitana
Work highlights
Advised Codelco on insurance due diligence and insurance transition period regulations, in relation to a public-private partnership with Sociedad Química y Minera de Chile (SQM).
Assisting Sencorp with the complex analysis of pending insurance indemnity obligations under a real estate purchase agreement.
Advising Mapfre Group on the closure of its reinsurance operations in Chile.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Jorge Soto
Practice head
Matías Vergara