Sullivan & Cromwell has broad transactional experience advising life and annuity, property/casualty, health and managed care, financial guaranty, and other specialty line and multiline companies, as well as agents, brokers and reinsurance intermediaries.
The Firm’s clients are among the largest U.S. and non-U.S. insurance and reinsurance companies and intermediaries.
S&C provides dedicated insurance expertise in corporate, mergers and acquisitions, capital markets, private equity, risk transfer, insurance regulatory, tax and litigation matters.
The Firm has in-depth expertise in:
- mergers, acquisitions and other change-of-control transactions;
- financings and the applicable disclosure requirements;
- restructurings, including rehabilitations, liquidations and other financial distress situations;
- offshore insurers and reinsurers;
- demutualizations and mutual holding company structures;
- reinsurance transactions;
- insurance derivatives, insurance risk securitization, transformer vehicles and captives;
- Dodd-Frank Wall Street Reform and Consumer Protection Act and U.S. federal regulation of insurers and affiliates, including the Systemically Important Financial Institution designation process;
- Financial Stability Board and International Association of Insurance Supervisors regulation, including G-SII designation and ComFrame;
- European Union matters, including Solvency II;
- Sarbanes-Oxley Act disclosure and corporate governance matters;
- regulatory investigations;
- antitrust and the McCarran-Ferguson Act;
- the Terrorism Risk Insurance Act of 2002 and amendments; and
- U.S. taxation of insurance companies.
The Insurance Group also advises on major policy coverage issues, particularly environmental and products liability coverage. The Group provides litigation expertise involving insurance and reinsurance coverage and claims matters and other disputes.
The Insurance Group frequently deals with insurance departments in New York and other states, as well as with non-U.S. insurance regulators. Together with the Firm’s Banking Group, the Insurance Group works closely with U.S. federal banking authorities.