White & Case LLP is one of the few U.S.-based general practice law firms to offer its clients superior multidisciplinary capabilities specific to the insurance industry, both in the United States and internationally. The lawyers in the Firm’s Insurance Industry practice group combine many years of experience in domestic and international insurance and reinsurance industry transactional, regulatory, and dispute resolution matters, with knowledge drawn from prior careers in various segments of the industry itself: One of our lawyers formerly was Deputy Superintendent and General Counsel of the New York State Insurance Department, and others have backgrounds in accountancy, finance and allied disciplines.

Combining this broad range of industry-specific capabilities with the Firm’s depth of transactional, regulatory, and dispute resolution experience in the financial services sector affords White & Case a uniquely informed perspective on insurance industry legal matters, whether an insurance company demutualization in the United States, a state insurance privatization in Latin America, a capital markets insurance alternative emanating from Bermuda, or a bank-insurer collaboration anywhere in the world.

As the international insurance and reinsurance sector has continued to consolidate and evolve beyond its traditional confines into the domains of banking and securities, the Insurance Industry practice group has become increasingly involved in assisting clients in developing opportunistic insurance-related financial products, securitizing insurance risk, making strategic investments in underserved insurance market niches, striking strategic alliances with former competitors in converging industries and advising government regulators in their oversight of the rapidly shifting financial services landscape.

Corporate Transactions
Our lawyers have extensive experience representing parties in mergers and acquisitions in the insurance industry. In addition, our attorneys have counseled government regulators reviewing proposed transactions in the rapidly changing insurance sector.

We have represented The Prudential Insurance Company of America in several transactions, including its sale of substantially all of the assets of its $4 billion mortgage servicing business to NorWest in a controlled stock auction and its $840 million IPO of Prudential Reinsurance Company, and the transfer of all its Medicare supplement business and related operations.

Our attorneys represented the New Hampshire Insurance Department and other concerned state regulators in the negotiation, structuring, and regulatory approval of Zurich Insurance Group's $1.6 billion acquisition of The Home Insurance Companies, a highly publicized transaction that for the first time in the U.S. insurance industry, utilized the “good insurer/bad insurer” workout structure.

Financings
White & Case represents financial institutions, insurers, and other corporate clients on a wide range of domestic and international extensions of credit and on all kinds of capital markets transactions. Our lawyers have frequently represented financial institutions in establishing credit facilities for insurance companies. We have also represented a number of underwriters in Regulation S and Rule 144A offerings of securities collateralized by funding agreements issued by U.S. life insurance companies. The firm has been involved in new product development in commercial finance and capital markets transactions for such clients as The Prudential Insurance Company of America and Aetna Life and Casualty Company.

Corporate and Regulatory Advice
White & Case advises on all aspects of insurance regulatory matters, including licensings, investments, demutualizations, insolvencies, and captive insurer formations and operation. Our lawyers have represented several companies on the formation and initial financing of insurance enterprises. We have also advised insurers on compliance with state regulations, represented them at state rate hearings and helped them obtain state licenses.

Our lawyers also have significant experience representing clients in the public sector in insurance-related matters. For example, we serve as special counsel to the New Hampshire Insurance Department with respect to all changes of control of property/casualty and life/health insurers domiciled in that state. Our lawyers represented the New York Superintendent of Insurance in protecting Lloyd’s trust funds against lawsuits by various other state insurance commissioners seeking to freeze or attach the funds as potential damages in lawsuits against Lloyd’s.

One of our lawyers has helped state and foreign governments draft specialty insurance legislation, including Vermont’s Captive Insurance Act (1981), the U.S. Virgin Islands’ Exempt Companies Act and Exempt International Insurers Act (1994) and the Commercial Insurance Code of the Republic of Belarus (1992). Another of our lawyers served as independent counsel to the New York Automobile Insurance Plan, investigating and reporting to the Board of Governors on compliance issues.

Litigation and ADR
White & Case has represented clients in groundbreaking litigation concerning insurance coverage for asbestos claims, toxic waste cleanup claims, and other toxic torts. We have also been involved in analysis and counseling with respect to complex director and officer, errors and omissions, surety and entertainment law coverage issues.

Our experience includes representation of The Prudential Insurance Company concerning responsibility for environmental cleanup in connection with its ownership of a former chemical manufacturing company in California; AIG Risk Management with respect to claims asserted by the owners and operators of a natural gas fractionator facility arising from an explosion; and State Farm Insurance Companies in potential class actions concerning claim settlement practices.