Cadwalader has "been instrumental in developing alternative insurance products. . ." - Legal 500

The convergence of capital markets and insurance has created a need for legal advisors who can bridge these worlds. By bringing together practitioners with experience in insurance and reinsurance, capital markets, finance and tax, Cadwalader provides clients with a sophisticated approach to issues relating to risk-linked securities, including catastrophe bonds, sidecars, reinsurance and longevity products.

Cadwalader attorneys have been involved in many of the most high-profile and innovative capital markets transactions in both the primary and secondary markets for insurance and reinsurance companies of all types. We represent insurers, reinsurers, investment banks, hedge funds, private equity funds, underwriters, credit enhancers, selling shareholders, and their financial advisors in a broad array of securities transactions, including IPOs, privatizations, demutualizations, spin-offs, stock exchange listings, debt offerings, securitizations, preferred securities, and surplus notes offerings.

Our industry-leading securitization and tax attorneys have been at the forefront of developing transactions and products tailored to the insurance and reinsurance industry, including "alternative insurance products" such as premium finance loans, life/annuity arbitrage securitizations, catastrophe bonds, industry loss warrants, sidecars, synthetic securitizations, and securitization of Triple X reserves and other assets. We have, among other things, developed products that help insurance companies disintermediate their risks, and improve their asset and liability management within the confines of insurance regulation. Our attorneys also structure insurance policies and reinsurance contracts to embed capital markets components.

Cadwalader is also involved in the emerging areas of contingent capital transactions, which permit access to risk capital pursuant to an options contract only if a "covered" event transpires and the securitization of life insurance policies, which transfer mortality risk to the capital markets. Increasingly, life insurers are looking for solutions to monetize value-in-force, or VIF, in their life business. Although a transaction template is beginning to emerge in the market for life securitizations, each transaction remains unique and experienced counsel input is vital. Given our expertise, Cadwalader is well-positioned in advising on innovative customizations in this developing area. We also advise our clients on issues relating to ISDA reform for longevity risk, life settlement structures with U.S. life settlement portfolios, and structured settlement portfolios for European note programs.

Products: We also work with insurance companies to develop innovative customized products for sale to pension plans and other institutional investors, and advise on tax-advantaged insurance and insurance-related financial investments. Cadwalader is at the forefront of developing innovative capital markets instruments on behalf of property and casualty insurers that have municipal bond holdings and tax loss or alternative minimum tax positions. In addition, we work with insurance companies to develop capital markets instruments to finance large municipal bond portfolios on a leveraged tax-exempt basis. Cadwalader's preeminent real estate finance lawyers, together with our capital markets lawyers, have long represented major insurers, particularly in connection with the origination, negotiation, and securitization of large commercial real estate loans.

We believe that our continued strength lies in ensuring that we attract, retain, and nurture the very best talent from all backgrounds, and we expect the future complexion of Cadwalader, Wickersham & Taft LLP will, with each passing year, more closely reflect the global community that we serve. 

Cadwalader has worked diligently to promote an inclusive work environment and, over the years, has developed many initiatives to fit our unique goals and challenges on issues of diversity and inclusion.  With the creation of the Cadwalader Center for Diversity & Inclusion (CCDI), a central resource for the firm’s diversity programs, initiatives and policies, we aim to improve upon our successes and follow through on our promise to weave diversity and inclusion principles into the fabric of our culture. 

The mission of the CCDI is to enhance gender, racial/ethnic, and LGBT diversity and inclusion within the firm to create an unrivalled environment that attracts, retains and promotes the best and brightest talent available to serve our clients. Governed by the Global Diversity Committee, chaired by Patrick T. Quinn, Managing Partner, the CCDI is a vehicle to support the work we currently perform, to reinforce our dedication to that work, to recognize outstanding effort and to communicate - to each other and to the clients we serve - our longstanding commitment to diversity and inclusion.

Recent Programs & Events

The Cadwalader Center for Diversity and Inclusion hosts programs and events throughout the year that are designed to increase cultural competence, celebrate history and heritage and educate attorneys on how to work effectively on diverse teams.

From Megan’s Law to Bernie Madoff: A Conversation with Judge Chin

- July 23, 2015

The Cadwalader Asian Pacific American Attorney Resource Group hosted a conversation with the Honorable Denny Chin, United States Circuit Judge for the Second Circuit.  During the interactive conversation, Judge Chin discussed his experiences as a federal judge and his path to the bench. Attendees had the opportunity to network and speak with Judge Chin during the cocktail reception that followed.

The Fight for Marriage Equality in the Supreme Court

- June 9, 2015

The Cadwalader LGBT Network and the Gay & Lesbian Advocates & Defenders (GLAD) hosted a Pride Month event, The Fight for Marriage Equality in the Supreme Court, featuring Mary Bonauto, GLAD’s Civil Rights Project Director and Janson Wu, GLAD’s Executive Director. During the presentation Mary discussed her experience arguing before the U.S. Supreme Court for marriage equality and Janson discussed the future of the LGBT rights movement.

Justice Denied: Wards Cove Packing Co. v. Atonio

- May 12, 2015

Members of the Asian American Bar Association of New York, including Cadwalader attorneys and the Honorable Denny Chin of the U.S. Court of Appeals for the Second Circuit presented a case reenactment of Wards Cove Packing Co. v. Atonio, a landmark employment discrimination case. The presentation told the story of the Wards Cove workers through narration, reenactment of court proceedings, and historic photographs. To view the performance, click here.

The Partner Track

- May 5, 2015

The Cadwalader Asian Pacific American Attorney Resource Group and the Women’s Leadership Initiative co-hosted a panel discussion with Cadwalader Partners, Ingrid Bagby, Kathy Chin and Athena Eastwood, focusing on their career experiences and paths to partnership. The panel was moderated by Helen Wan, author of The Partner Track, a fictional story about a young Asian-American corporate associate up for partner at her New York law firm.

“From Selma to Ferguson to Today: Why Civil Rights Matter,” featuring Professor Charles Ogletree, Harvard Law School

- April 29, 2015

The Cadwalader Black and Latino Association hosted a conversation with Charles Ogletree, Harvard Law School Jesse Climenko Professor of Law, and Founding and Executive Director of the Charles Hamilton Houston Institute for Race and Justice.  The conversation was followed by a cocktail reception where attorneys had the opportunity to network  and speak with Professor Ogletree.

The Art of Building Business Relationships and Executive Presence

- March 25, 2015

The Women’s Leadership Initiative and Diane Darling, Founder of the Darling Institute, hosted a workshop on building business relationships and executive presence.  This interactive presentation explored how professionals at all stages of their career can integrate networking and relationship-building into their everyday lives. 

WLI London Client Event: “Walking the Nile” by Levison Wood

– March 12, 2015

The Women’s Leadership Initiative hosted a special evening at our London office with Levison Wood, explorer, writer, and photographer. Formerly an officer in the British Parachute Regiment, Wood has led pioneering journeys into undiscovered regions, travelling to more than 80 countries. His nine-month walk along the length of the Nile, from source to sea, is chronicled in a recent Channel 4 documentary. During the presentation Wood described the amazing people, breathtaking places and shocking sights he encountered on his ground-breaking expedition.