Reinsurance

Leaders in reinsurance, Sutherland helps clients create and defend sophisticated, tax efficient reinsurance structures to support business goals.

Sutherland’s comprehensive reinsurance practice draws on the firm’s deep experience across the insurance industry and familiarity with all aspects of reinsurance both in the United States and internationally. We constantly strive to keep ahead of the ever-changing regulatory environment across all jurisdictions. We develop reinsurance structures either on a discreet basis or as part of an acquisition or larger restructuring. We draft reinsurance agreements for property-casualty and life insurance clients, advising on state credit for reinsurance matters and drafting reinsurance trust agreements. We also aid clients during internal reviews of their reinsurance needs and programs.

Sutherland takes a multidisciplinary approach to reinsurance, utilizing the talents of not only our reinsurance counsel but also attorneys who focus on mergers and acquisitions, finance, tax, regulatory matters and litigation. As a result, we address the full scope of our clients' reinsurance concerns and advise them on how best to achieve their commercial objectives. We further support their business objectives by engaging in long-term relationships that allow us to anticipate their legal needs as the industry evolves.

Our practitioners draft reinsurance agreements and arrange reinsurance transactions. We are intimately familiar with collateral protection devices as well as interim and permanent administrative services agreements. We regularly handle coinsurance, modified coinsurance, coinsurance with funds withheld and assumption reinsurance. We have decades of experience aiding clients with reinsurance matters in the United States, the Caribbean and Europe, and report to our clients on regulatory developments globally as developments warrant.

Why Sutherland
Multidisciplinary approach.
In addition to our insurance lawyers, those clients with reinsurance concerns can rely on the support of our merger and acquisitions team, tax lawyers, finance attorneys, regulatory attorneys and litigators. We address the full range of issues and craft creative solutions.

Industry experience. We deal with virtually every aspect of the business from creating discreet reinsurance structures to dealing with runoff issues, from life insurance securitizations to reinsurance sidecar matters.

Domestic and international reach. Our reinsurance practitioners are comfortable with the regulations and legal codes of the United States, the Caribbean and Europe. Moreover, our practice has enduring connections with other members of the industry that enable us to deal effectively and quickly across international boundaries.

Regulatory knowledge. Our attorneys stay on top of recent developments in reinsurance regulations, from the relevant portions of Dodd-Frank and various state laws to Britain's replacement of the Financial Services Authority with the Prudential Regulatory Authority and the new European Union regulations.

Proactive advice. We know the industry, regulation and our clients' business goals and proactively advise clients by sharing recent news as well as aiding them with reviews of their reinsurance programs and projected reinsurance needs.

Nuts and Bolts
Our reinsurance practice includes:

  • Drafting facultative, treaty, excess of loss and catastrophe reinsurance agreements for property-casualty risks, as well as drafting related reinsurance trust agreements
  • Drafting of life and annuity reinsurance agreements both in standalone transactions and in connection with sales of business units, including all related administrative services agreements, trust agreements and other security agreements
  • Development and securitization of synthetic life insurance products, letters of credit and reinsurance transformer transactions providing protection for guaranteed benefits
  • Securitization of property and casualty reinsurance cash flows
  • Reinsurance litigation and arbitration
  • Tax issues related to reinsurance transactions

Take Action
Sutherland takes a multidisciplinary approach to reinsurance matters bringing together relevant experience in insurance M&A, regulation, tax, finance, international law and litigation.

Selected Experience
Sutherland represents ING in XXX and AXXX reserve funding and capital solutions for annuity products.
We negotiated reinsurance agreements and financing and security documents governing billions of dollars in letters of credit, trust notes and demand collateral provided by a variety of banks and reinsurers to finance ING’s XXX and AXXX reserves and to manage capital volatility associated with certain annuity products. We also assisted ING in establishing the reinsurance captive subsidiaries used in these transactions.

Represented The Hartford in the strategic sale of its life insurance business to Prudential.
Represented Hartford Financial Services Group, Inc. in the $615 million sale of its individual life business to Prudential Financial, Inc., a strategic disposition in support of The Hartford’s plans to focus on its property and casualty, group benefits and mutual funds businesses.

Sutherland attorneys advise Lloyd's of London on establishment of Equitas.
Sutherland attorneys advised Lloyd’s in its establishment of Equitas and the reinsurance of all of Lloyd’s pre-1993 liabilities to Equitas. They represented Lloyd’s in the $14 billion reinsurance transaction between Equitas and Warren Buffet’s National Indemnity Insurance Company and the subsequent UK Part VII transfer of all such liabilities. Equitas resolved much of the financial difficulty that had threatened Lloyd's 300-year existence.

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Peer Reviews

  • 4.8/5.0 60 reviews
  • Legal Knowledge

    4.9/5.0
  • Analytical Capability

    4.8/5.0
  • Judgment

    4.8/5.0
  • Communication

    4.8/5.0
  • Legal Experience

    4.9/5.0

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Client Reviews

  • 4.2/5.0 6 reviews
  • 83% client recommended 5 recommendations
  • Communication

    4.2/5.0
  • Responsiveness

    4.3/5.0
  • Quality of Service

    4.3/5.0
  • Value for Money

    4.0/5.0

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Diversity

§  “Diversity at Sutherland Asbill & Brennan LLP” to “Diversity at Eversheds Sutherland (US) LLP”

§  “Diversity” section:

o   The firm’s emphasis on diversity is reflected in numerous ways throughout the firm, such as the manner in which we recruit lawyers and other employees, our work-life policies and our professional service efforts. We have been recognized for our achievements in diversity.  More importantly, we understand the significant role a diverse community plays in the firm's growth and development.

§  “Our Awards and Recognitions” section:

o   Eversheds Sutherland (US) LLP continues to be recognized for its efforts to promote diversity in the workplace and in the legal profession. In 2016 we were named a “Best Place to Work for LGBT Equality,” having earned a perfect 100 score on the Human Rights Campaign’s Corporate Equality Index, and we also were ranked a Top 100 Firm for Minority Attorneys by Law360. In addition, the firm was awarded the Gold Standard Certification for the fifth consecutive year by the Women in Law Empowerment Forum.

§  “Our Commitment” section:

o   Eversheds Sutherland (US) LLP is committed to promoting diversity within the firm and in the legal profession.  We believe that diverse skills, knowledge and viewpoints make us a stronger, more productive law firm.  We hire and promote qualified lawyers and other professionals regardless of race, color, national origin, religion, disability, gender, gender identity or sexual orientation.  We understand that diversity enhances our value to clients by allowing us to staff our client teams with professionals who possess broad experiences and a spectrum of perspectives.

o   Eversheds Sutherland (US) LLP has a cross-office Diversity Committee with responsibility for supporting and enhancing our firm culture.  Our committee has helped coordinate and lead a number of efforts to advance diversity within our firm and the community. Affinity groups at the firm serve as support networks for attorneys of color; women lawyers; and gay, lesbian, bisexual and transgender attorneys.

o   We are committed to working with our clients as they pursue the common goal of a professional workplace where opportunity is available to all.

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