P. Bruce Wright

P. Bruce Wright: Attorney with Eversheds Sutherland (US) LLP
  • Partner at Eversheds Sutherland (US) LLP (436 Attorneys)
  • Grace Building, 1114 Avenue of the Americas, 40th Floor, New York, NY 10036-7703
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Biography

Nationally recognized as an authority in the captive insurance industry, Bruce Wright counsels companies on a wide range of tax and insurance law issues, including formation of commercial offshore privately and publicly held entities. He also works with clients on the development of structured financial products such as securitizations, swaps, options and similar products used as alternatives to conventional risk financing mechanisms such as “rent-a-captives” and “cell companies.”

Representing domestic and foreign-based clients, Bruce advises property and casualty insurance companies, guides the formation of single parent/group captive insurers and counsels risk retention groups. With more than four decades of experience, he has helped clients successfully navigate an array of complex federal income tax issues such as debt or equity characterization, engaging in U.S. trade or business issues, continuity of interest, passive foreign investment company status, controlled foreign corporation status, limitations on the use of net operating losses, cancellation of indebtedness income, consequences of debt modification, original issue discount, federal excise tax and state premium tax on premiums paid to foreign investors.

Selected Experience

Represented a Bermuda reinsurance company in its structuring and formation, the private offering of its securities, and the establishment of its business.
Advised Verizon on the insurance aspects of its $7.5 billion transfer in pension obligations to Prudential.
Counseled clients with captive insurance structures for employee benefits.

Awards and Rankings

Honored as one of the inaugural inductees to the Captive Review Hall of Fame (2016)

Recipient, Distinguished Service Award , Captive Insurance Companies Association (2016)

Ranked No. 2 in the latest edition of Captive Review magazine’s “Power 50,” which recognizes the 50 most important figures in the international captive insurance community (2014-2015)

Recipient, Industry Service Award , Vermont Captive Insurance Association (2015)

Ranked No. 4 in Captive Review magazine’s “Power 50,” which recognizes the 50 most important figures in the international captive insurance community (2013-2014)

Ranked No. 8 in Captive Review magazine’s “Power 50,” which recognizes the 50 most important figures in the international captive insurance community (2012-2013)

Recipient, U.S. Captive Outstanding Contribution Award , U.S. Captive Services Awards, Captive Review (2012)

Ranked No. 9 in Captive Review magazine’s “Power 50,” which recognizes the 50 most important figures in the international captive insurance community (2011-2012)

Recognized as a distinguished benefactor by the Nevada Captive Insurance Association (2011)

Areas of Practice (8)

  • Captives
  • Insurance
  • Insurance Taxation
  • Insurance Regulatory and Compliance
  • Reinsurance
  • Tax
  • International Tax
  • Federal Tax

Education & Credentials

Contact Information:
University Attended:
City University of New York, Brooklyn College, B.S.
Law School Attended:
Brooklyn Law School, J.D., cum laude; Georgetown University Law Center, LL.M.
Year of First admission:
1971
Admission:
1971, New York; 1972, District of Columbia
Memberships:

Professional Activities

Chair, Captive Insurance Committee, ABA Business Law Section
Former Vice-Chair, Captive Insurance Committee, ABA Business Law Section

ISLN:
902607321

Peer Reviews

  • 5.0/5.0
  • A Martindale-Hubbell Peer Rating reflects a combination of achieving a Very High General Ethical Standards rating and a Legal Ability numerical rating.

*Peer Reviews provided before April 15, 2008 are not displayed.

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New York, New York

  • New York, NY
    Grace Building , 1114 Avenue of the Americas, 40th Floor
    New York, NY 10036-7703

    212.389.5054 Phone

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