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Our experience extends to virtually every type of insurance product including life, annuity, variable products, financial guaranty, mortgage insurance, property and casualty. Select engagements by Mayer Brown partners include:
- Currently advising two major banks in connection with XXX structured letter of credit transactions.
- Advised in the structuring and drafting of various reinsurance, letter of credit and other agreements in connection with other XXX and AXXX transactions.
- Worked on the development and structuring and state regulatory approval of life, annuity and GIC separate account products.
- Advised real estate fund sponsors and investors on using an insurance company separate account structure to achieve certain tax efficiencies.
- Structured, negotiated and drafted a large Modco agreement and related contracts for the reinsurer in connection with a life insurer’s acquisition of a life and variable annuity business.
- Advised banking organizations on the regulatory, tax and insurance aspects of purchases of bank-owned life insurance ("BOLI"); represented banking organizations in purchases of general account and separate account BOLI, with and without stable value protection; and represented a private equity manager in the creation of a private fund that would be eligible for purchase by commercial banks as part of a separate account BOLI product.
- Routinely advise insurers, reinsurers and investors on terms and structure of complex reinsurance transactions including life (Co, Modco), annuity, property catastrophe, casualty, mortgage guarantee, and other property & casualty lines of business.
- Represented United Health Group in the sale, via a 100% reinsurance transaction, of the $1.8 billion life insurance and annuity business of Golden Rule Insurance Company.
- Advise banks and derivative counterparties in variable annuity "transformer" transactions in which variable annuity risk is transformed and re-packaged in equity derivative form.
- Advised a life reinsurer in review and drafting of various types of transactions.
- Performed substantial legal work for insurers and reinsurers on variable annuity, life, property, surety, mortgage insurance and several other types of reinsurance and retrocessional agreements transactions.
- Advised an offshore reinsurer in review of various types of transactions.
- Advised a major European reinsurer on review of various types of transactions.
- Acted as the lead structurer and inventor (patent pending) of an innovative event-linked reinsurance credit protection product, providing coverage against credit risk to the Florida Hurricane Catastrophe Fund for several primary insurers.
- Advised a Bermuda reinsurer on a series of innovative collateralized reinsurance transactions and property-swap transactions involving property-catastrophe reinsurance risks, including a series of industry loss warranty protections.
- Assisted an unauthorized reinsurer in developing a new asset category through a securitization technique for use in meeting credit for reinsurance laws, including insurance investment law advice.
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