Insurance

Experience

  • The Americas

    • AXA and AXA Equitable Holdings on the initial public offering of AXA Equitable Holdings on the New York Stock Exchange for approximately $4 billion, and AXA Equitable Holdings in its offering and sale of $3.8 billion of senior notes.
    • Prosperity Life Insurance in its sale to an investor group.
    • AXA in the acquisition of Bermuda-based XL/Catlin Group for $15.3 billion in connection with insurance M&A and regulatory matters.
    • Ambac Assurance Corp., a Wisconsin domiciled insurance company, in a holistic restructuring transaction that involved three exchange offers of existing debt securities and other payment obligations for approximately $2.2 billion of newly-issued debt securities, as well as a new-money financing collateralized by the future proceeds of certain litigation claims against RMBS originators.
    • Syncora Holdings in a reinsurance agreement with Assured Guaranty to reinsure approximately $13.5 billion of financial guaranty policies, representing 91% of Syncora's outstanding insured exposures.
    • American International Group in its $5.56 billion acquisition of Validus Group, a Bermuda-based, NYSE-listed, (re)insurance company.
    • Standard Diversified Opportunities in its acquisition of Interboro Holdings and its operating subsidiary, Maidstone Insurance Company.
    • Global Atlantic in the reinsurance of $9 billion of fixed annuities and other spread-based reserves of Talcott Resolution, The Hartford’s run-off life and annuity businesses.
    • Cornell Capital as a leading investor in the $2.05 billion acquisition of Talcott Resolution, The Hartford’s run-off life and annuity businesses.
    • Bedrock Insurance in its acquisition of Ashmere Insurance, a workers’ compensation specialty insurance company.
    • AmTrust Financial Services in a strategic transaction with Madison Dearborn for a portion of AmTrust’s U.S. fee businesses valued at $1.15 billion.
    • American International Group in the sale of its medical stop-loss operations to Tokio Marine HCC.
    • Resolution Life in its sale of Lincoln Benefit Life to Global Bankers Insurance Group.
    • Pacific Life and Aviation Capital Group in the minority investment by Tokyo Century in Aviation Capital Group, a transaction which won the Airline Economics Aviation 100 “2017 Overall Equity Deal of the Year” award.
    • Kuvare in its acquisition of United Life Insurance Company.
    • The CF Corporation and The Blackstone Group in the $1.835 billion acquisition of Fidelity & Guaranty Life.
    • Wilton Re in its acquisition of Aegon Transamerica’s two largest U.S. run-off businesses.
    • Kelso & Company in its investment in Premia Holdings, a newly-formed property and casualty insurance and reinsurance group focused on providing runoff solutions.
    • American International Group in several transactions with Fairfax Financial, a leading global property and casualty insurer and reinsurer, as part of a strategic partnership in 12 jurisdictions across Latin America and Central and Eastern Europe.
    • J.P. Morgan Securities and Morgan Stanley as financial advisors to American International Group in its $3.4 billion sale of United Guaranty Corporation, the leading private mortgage insurance company in the United States, to Arch Capital Group.
    • Clayton, Dubilier & Rice in its acquisition of Tranzact Holdings, the leading provider of comprehensive, direct-to-consumer sales and marketing solutions for insurance carriers in the U.S., from White Mountains Insurance Group.
    • Swiss Re Corporate Solutions in its $153 million acquisition of IHC Risk Solutions and its direct employer stop loss business from Independence Holding Company.
    • Prudential Financial in the acquisition by its subsidiary, Prudential do Brasil Seguros de Vida of the group life insurance operations of Itaú Unibanco in Brazil.
    • Anbang Insurance Group in its proposed $1.6 billion acquisition, later terminated, of Fidelity & Guaranty Life.
    • Kelso & Company in its acquisition of Risk Strategies Company, a national insurance and benefits brokerage and risk management firm, from Kohlberg & Company.
    • Nassau Reinsurance Group, a Golden Gate Capital portfolio company, in its acquisition of Universal American’s Traditional Insurance business.
    • Prudential Insurance Company of America in the sale of a group annuity to JCPenney to reduce JCPenney’s pension liabilities.
    • The Prudential Insurance Company of America in the sale of a group annuity contract to the U.S. subsidiary of Royal Philips as part of an overall transaction that will reduce Philips’ pension liabilities by $1.1 billion.
    • Sun Life in two reinsurance agreements, and a related administrative agreement, with affiliates of Enstar Group Limited.
    • Protective Life in its acquisition by reinsurance of certain in-force blocks of term life insurance from Genworth Life and Annuity Insurance Company.
    • Nassau Reinsurance Group, a portfolio company of Golden Gate Capital, in its $217.2 million acquisition of The Phoenix Companies.
    • Sun Life Financial in its $975 million acquisition of Assurant’s Employee Benefits business.
    • Morgan Stanley as financial advisor to Symetra Financial Corp in its $3.8 billion sale to Sumitomo Life.
    • Exor as insurance M&A counsel in its contested $6.9 billion acquisition of PartnerRe, a Bermuda-based reinsurance company.
    • StanCorp Financial Group in its $5 billion sale to Meiji Yasuda Life Insurance Company.
    • National General Insurance in its $90 million acquisition of the Lender-Placed Insurance business of QBE North America.
    • Stone Point Capital in its significant equity investment in specialty insurance broker Alliant Insurance Services, with KKR retaining a significant equity investment in the business.
    • AXA in its agreement with SulAmérica to acquire 100% of its Large Industrial and Commercial risks insurance business in Brazil.
    • Morgan Stanley as financial advisor to Pan-American Life Mutual Holding Company in its merger with Mutual Trust Holding Company.
    • Morgan Stanley as financial advisor to Endurance Specialty Holdings Ltd. in its $1.83 billion acquisition of Montpelier Re Holdings Ltd.
    • The Prudential Insurance Company of America in the sale of a group annuity contract to Kimberly-Clark Corporation.
    • The Prudential Insurance Company of America in the sale of a group annuity contract to The Timken Company to pay future pension benefits for approximately 5,000 U.S. Timken retirees.
    • Prudential Financial in its acquisition of a 40% interest in Administradora de Fondos de Pensiones Habitat, a leading provider of retirement services in Chile, for a total purchase price of approximately $550 million.
    • Protective Life in its $5.7 billion merger with a subsidiary of Dai-ichi Life, a life insurance company listed on the Tokyo stock exchange.
    • Northwestern Mutual in its $2.7 billion sale of Russell Investments to the London Stock Exchange Group.
    • American International Group in the $7.6 billion sale of its 100% interest in International Lease Finance Corporation to NYSE-listed AerCap Holdings N.V.
    • TIAA-CREF in its $6.25 billion acquisition of Nuveen Investments.
    • Canada Pension Plan Investment Board in its $1.8 billion acquisition of Wilton Re, a U.S. life insurance and reinsurance provider.
    • Assurant in its investment in Iké Asistencia, a services assistance business with operations in Mexico and other countries in Latin America.
    • GreyCastle Holdings in its $570 million acquisition, backed by a consortium of investors, of the run-off Life Reinsurance operations of XL Group.
    • Liberty Mutual Insurance in the sale of Summit Holdings Southeast and its related companies to American Financial Group.
    • Prudential Financial in a $3 billion AXXX reserve financing.
    • Third Point Re in its $317 million initial public offering of common stock.
    • AXA in its acquisition of 51% of Mercantil Colpatria’s insurance operations in Colombia for COP 672 billion.
    • Forethought Financial Group in its cash merger with a subsidiary of Global Atlantic Financial Group.
    • BofA Merrill Lynch, Wells Fargo Securities, Citigroup and J.P. Morgan as joint bookrunners in the $600 million offering of 4.250% senior notes due 2023 by Liberty Mutual.
    • Resolution Life in its formation and initial capitalization, related to its $587 million acquisition of Lincoln Benefit Life Company from Allstate Life Insurance Company, which included reserve financing, a reinsurance facility and bank debt.
    • Fidelity & Guaranty Life Holdings, a subsidiary of Harbinger Group Inc., in its offering of $300 million of 6.375% senior notes due 2021.
    • Pacific Life Insurance Company in its $1 billion offering of 9.25% surplus notes due 2039.
    • A private equity fund as lead investor in Altair Re, a reinsurance sidecar established by ACE Tempest Re, the Bermuda reinsurer.
    • Cerberus Capital Management in insurance matters relating to its equity investment in Commonwealth Annuity and Life Insurance Company, a subsidiary of Goldman Sachs.
    • Goldman Sachs in the formation, separation and disposition of Global Atlantic Financial Group.
    • Global Atlantic Financial Group in its acquisition of the life insurance business of Aviva USA.
    • AXA Financial in the $1.06 billion sale of MONY Life Insurance Company and reinsurance of an in-force book of life insurance policies to Protective Life Insurance Company.
    • Sun Life Financial in the $1.35 billion sale of certain of its U.S. subsidiaries.
    • Markel Corporation in its $3.13 billion acquisition of Alterra Capital Holdings, a listed Bermuda reinsurer.
    • The Principal Financial Group in its acquisition of AFP Cuprum S.A., a pension manager in Chile.
    • Cunningham Lindsey in its recapitalization by CVC Capital Partners.
    • Prudential Financial in its acquisition of The Hartford’s Individual Life Insurance business.
    • New York Life Insurance Company in the sale of its Mexico surety subsidiary, Fianzas Monterrey, to ACE Group, for about $285 million.
    • The Prudential Insurance Company of America in the sale of a single premium group annuity contract to the Verizon Management Pension Plan to settle approximately $7.5 billion of pension liabilities of the Verizon Plan by providing future annuity payments to approximately 41,000 members of the Verizon Management Pension Plan.
    • The Prudential Insurance Company of America in the sale to a General Motors retirement plan of a group annuity contract that will provide annuity payments for certain GM salaried retirees as part of GM’s plan to reduce pension obligations by approximately $26 billion.
    • Forethought Financial in the acquisition of the individual annuity platform of The Hartford Financial Services Group.
    • Tower Group in tax matters relating to its investment in Canopius Group.
    • Stone Point Capital in the acquisition, with Lockton, Inc., of the international insurance broking business of Alexander Forbes.
    • Goldman Sachs Reinsurance Group in its acquisition of the Bermuda-based reinsurance operations of Ariel Holdings.
    • Crump Group in the sale of its life insurance and property casualty insurance divisions to BB&T.
    • Third Point on the formation and initial capitalization of Third Point Reinsurance Ltd.
    • BofA Merrill Lynch and J.P. Morgan as representatives of the initial purchasers in Liberty Mutual's offering of $500 million of 4.95% senior notes due 2022 and $500 million offering of 6.50% senior notes due 2042.
    • BofA Merrill Lynch and J.P. Morgan as dealer managers for Liberty Mutual's tender offer for four series of debt securities.
    • Cigna in regulatory and tax matters relating to its $3.8 billion acquisition of HealthSpring.
    • Pan-American Life Insurance in its acquisition of select businesses and assets from MetLife in the Caribbean, Panama and Costa Rica.
    • Bank of America Merrill Lynch as financial advisor to Nationwide Financial in its $760 million merger with Harleysville Mutual.
    • Prudential Financial in its sale of Afore XXI, a Mexican private pension manager, to Banorte.
    • Goldman Sachs, Citi and Credit Suisse as book-running managers for the $6.4 billion combined primary and secondary offerings of common stock by MetLife and American International Group.
    • Protective Life Insurance Company and its wholly owned captive reinsurer, Golden Gate IV Vermont Captive Insurance Company, in a $790 million letter of credit-based financing of XXX reserves.
    • Harbinger Group in its $350 million acquisition of Old Mutual U.S. Life Holdings.
    • Macquarie Capital as financial advisor to Erie Indemnity Company in its sale of three wholly owned property and casualty subsidiaries and shares of Erie Family Life Insurance to the Erie Insurance Exchange.
    • GENEX Holdings in its acquisition of assets of International Rehabilitation Associates, a subsidiary of CIGNA Corporation.
    • Sun Life Financial and Sun Life Assurance Company of Canada in Sun Life's sale of its life retrocession business to Berkshire Hathaway Life Insurance Company of Nebraska.
    • Protective Life Insurance Company in its $628.1 million acquisition, together with Athene Holding Ltd., of Liberty Life Insurance Company, the U.S. life insurance and annuity business of Royal Bank of Canada.
    • Protective Life Insurance Company in its $316 million acquisition of United Investors Life Insurance Company from Liberty National Life Insurance Company, a unit of Torchmark.
    • MBIA Insurance Corporation in its acquisition of the shares of Channel Re Holdings, a Bermuda monoline reinsurance company, held by non-MBIA shareholders. Debevoise also represented MBIA in the formation and initial capitalization of Channel Re.
    • Swiss Re Life & Health in its $1.3 billion U.S. individual life retrocession transaction with Berkshire Hathaway and a $1.0 billion XXX financing.
    • Berkshire Hathaway in its $778 million acquisition of future cash flow from Caixa Bank’s life insurance portfolio.
    • Prudential Financial in the combination of its retail securities business, Prudential Securities, with Wachovia Securities to create the third largest brokerage firm in U.S. having combined client assets of $537 billion and in its $4.5 billion sale of such interest to Wells Fargo.
    • American International Group (AIG) and American International Assurance Company in AIG's agreement with the Federal Reserve Bank of New York to reduce the debt AIG owes the FRBNY by $25 billion and position AIA and American Life Insurance Company for initial public offerings.
    • Pacific Life Insurance Company in its $1 billion offering of surplus notes.
    • Principal Financial Group in its $1 billion offering of common stock.
    • Principal Financial Group in its $750 million offering of senior notes and its $1 billion offering of common stock.
    • Prudential Financial in the sale of its Mexican asset management business to Grupo Actinver.
    • American International Group in its sale of AIG Life Insurance Company of Canada to BMO Financial Group.
    • Cunningham Lindsey in its acquisition of GAB Robins' international businesses (excluding its U.K. operations) and its U.S. forensic engineering firm, EFI Global.
    • Stone Point Capital and shareholders of ZC Sterling in the $575 million sale of ZC Sterling Corporation to QBE Insurance Group Ltd.
    • Swiss Re Life & Health in its $1.5 billion letter of credit-based XXX financing with JP Morgan.
    • The special committee of Tower Group’s board of directors in Tower’s $530 million acquisition of CastlePoint Holdings.
    • Stone Point Capital in its sale of Signal Holdings to Assurant.
    • Liberty Mutual in its $6.2 billion acquisition of Safeco Corporation.
    • MBIA in a $1 billion investment by Warburg Pincus.
    • MBIA, Inc. in its $1.15 billion public equity offering.
    • MBIA Insurance Corporation in its $1 billion surplus note offering.
    • AXA Group in its $1.5 billion acquisition of ING Seguros, the Mexican insurance subsidiary of ING Groep.
    • Stone Point Capital in its acquisition of a majority interest in the insurance businesses of Fiserv, Inc.
    • Liberty Mutual Group in its $2.7 billion acquisition of Ohio Casualty Corporation.
    • ACE Limited in its sale of three subsidiaries–American Reinsurance Company, Brandywine Reinsurance Co. (UK) Ltd. and Brandywine Reinsurance Company S.A.–to Randall & Quilter Investment Holdings Limited.
    • Morgan Stanley, as financial advisor, in the demutualization and $523 million initial public offering of Employers Insurance Group, Inc.
    • J.C. Flowers & Co. in its acquisition of Crump Group, the U.S.-based wholesale insurance brokerage of Marsh, and in its purchase of BISYS' Insurance Services Group and Retirement Services business from Citi.
    • Merrill Lynch in the $1.3 billion sale of Merrill Lynch Life Insurance Company and ML Life Insurance Company of New York to AEGON, and the formation of a strategic business relationship with AEGON.
    • D. E. Shaw in its $575 million going private acquisition of the James River Group.
    • Enstar in its $1.2 billion merger with Castlewood.
    • Prudential Financial in a $500 million financing of AXXX reserves.
    • Swiss Reinsurance in the formation of a catastrophe bond program securitizing risks relating to earthquakes in the Mediterranean region and the issuance of $100 million of notes thereafter.
    • First Reserve Corporation in the establishment of Petrel Re and Sirocco Re, two sidecar reinsurers focused on the energy sector.
    • Principal Financial in its acquisition from Washington Mutual of WM Advisors, manager of approximately $26 billion in assets, including the WM Group of Funds.
    • Cerberus Capital Management in the insurance aspects of its $14 billion acquisition of GMAC and $7.4 billion acquisition of Chrysler Group and related financial services business from DaimlerChrysler.
    • Sedgwick CMS Holdings in its $635 million acquisition of Sedgwick CMS Holdings by Fidelity National Financial, Inc.
    • Stone Point Capital in the formation and initial capitalization of Mercator Risk Services, Inc., a newly formed, independent wholesale insurance broker.
    • AXA Financial in the sale of its subsidiary, MONY Realty Capital, to Municipal Mortgage & Equity, LLC.
    • Principal Global Investors, a subsidiary of Principal Financial Group, in its acquisition of majority interest in Columbus Circle Investors.
    • The management team of MMC Capital in its purchase of the private equity business of MMC Capital, the private equity subsidiary of Marsh & McLennan Companies, and in the formation of Stone Point Capital LLC, a new management company.
    • Trident III, L.P. (managed by Stone Point Capital LLC) in its majority investment in ZC Sterling Corporation.
    • Pacific Life in the sale of the group health business of Pacific Life Insurance Company and Pacific Life & Annuity Company to PacifiCare Health Systems.
    • Stone Point Capital and Harbor Point in the formation and initial $1.5 billion capitalization of Harbor Point Limited, a global reinsurance company based in Bermuda, and Harbor Point's acquisition of the ongoing business of Chubb Re, Inc., a subsidiary of The Chubb Corporation.
    • SIRVA in the sale of Transguard Insurance Group to IAT Reinsurance Company Limited.
    • AXA Financial in its $1.5 billion acquisition of The MONY Group.
    • Lehman Brothers Holdings, financial adviser to Wellpoint Health Networks, in the $15.2 billion merger of Wellpoint and Anthem.
    • MBIA, Inc. in the sale of substantially all of the assets of 1838 Investment Advisors to Management Group and Orca Bay Partners.
    • Prudential Financial in the $413 million sale of personal lines property/casualty business (excluding New Jersey) to Liberty Mutual Group.
    • Protective Life Corporation and its subsidiaries in their warehouse financing of up to $400 million of surplus notes issued by a special purpose financial captive insurance company to finance excess statutory reserves required by Regulation XXX on specified classes of level term life insurance policies written over a two-year origination period by certain of Protective's life insurance subsidiaries.
    • Phoenix Home Life Insurance Company in the purchase of a block of variable business (life insurance and annuities) from Valley Forge Life Insurance Company, a subsidiary of CNA Financial Corporation.
    • A leading insurance company in a $2.5 billion securitization of its demutualization closed block, the largest life insurance securitization to date.
    • Swiss Re in its $245 million offering of Fixed Rate Notes due 2024 for Queensgate Special Purpose Ltd. (securitization of blocks of life insurance business).
    • Swiss Reinsurance Company in its “Sector Re” structured reinsurance sidecar program.
    • The Chubb Corporation, The Hartford Financial Services Group, MBIA, New York Life, Pacific Life, The Phoenix Companies, Principal Financial Group, Protective Life Corporation, Prudential Financial and another leading insurance company in over $13 billion of offerings since 2002.
    • Demutualizations of John Hancock, Phoenix Home Life, Principal Mutual Holding Company and Provident Mutual (sponsored acquisition by Nationwide Financial Services) and other companies.
    • Benfield Group Limited in the formation and $1 billion initial capitalization of Montpelier Re Holdings Ltd. and its wholly-owned subsidiary, Montpelier Reinsurance Ltd., together with White Mountain Insurance and other investors.
  • Europe

    • Assured Guaranty in its acquisition of a minority interest in Rubicon Infrastructure Advisors.
    • Canada Pension Plan Investment Board in its $1.1 billion acquisition of Ascot from American International Group.
    • Prudential Financial, as the primary investor in LeapFrog Strategic African Investments (LSAI), in LSAI’s $180 million investment in Ghanaian financial services market leader Enterprise Group.
    • MBIA in the sale of its UK subsidiary to Assured Guaranty.
    • AmTrust in its $219 million acquisition of ANV Holding, a Lloyd's platform.
    • PartnerRe in its €750 million debut Eurobond offering of 1.25% notes due 2026.
    • The initial purchasers in Liberty Mutual's €750 million debut Eurobond offering of 2.75% notes due 2026.
    • Prudential Financial in its $350 million partnership with LeapFrog Investments, targeting investments in life insurance companies in Africa.
    • Zurich Insurance in the sale of Zurich Russia's general insurance business to Olma, and restructuring of its Russian global corporate business.
    • A subsidiary of Berkshire Hathaway in its acquisition of Hartford Life International Limited, an Irish domiciled variable annuity writer, for approximately $285 million.
    • TIAA-CREF in its partnership with Henderson Group PLC to create TIAA Henderson Real Estate Limited, a new global real estate investment management company, with total assets under management of over $63 billion.
    • Omega in its agreement with Canopius Group on the terms of a recommended £164 million all-cash bid for Omega by Canopius.
    • Hardy Underwriting in its £143 million acquisition by CNA Financial.
    • Hanover Insurance Group in its £313 million public bid for Chaucer Holdings.
    • Novae Group plc on its return of £32.9 million of surplus capital to shareholders through an innovative B and C share scheme.
    • Hardy Underwriting Group plc in its redomiciliation to Bermuda by Scheme of Arrangement under s.425 of the Companies Act and the admission of Hardy Underwriting Bermuda Limited to listing on the London Stock Exchange.
    • Stone Point Capital in the acquisition, with Lockton, Inc., of the international insurance broking business of Alexander Forbes.
    • First Reserve Corporation in its establishment of Syndicate 2243 at Lloyd’s in partnership with C.V. Starr.
    • Benfield Group in its $1.75 billion merger with Aon.
    • Catlin Underwriting Agencies in its £591 million acquisition of Wellington Underwriting.
    • Aetna in its acquisition of the Middle Eastern, Pacific and UK operations of Goodhealth Worldwide.
    • Catlin Group Limited in its share placing through JPMorgan and UBS to raise £38 million from institutional investors in the U.S. and the UK.
    • Catlin Group Limited in its £190 million initial public offering and London Stock Exchange listing.
    • Novae Group in its £100 million Tier 2 debt raising and offering on the London Stock Exchange.
    • Novae Group (SVB Holdings) in its admission to the London Stock Exchange and its £103 million rights issue.
    • Omega Insurance Holdings Limited in the partial cash offer by Haverford (Bermuda) Limited to acquire up to 25% of Omega's common shares listed on the London Stock Exchange.
    • SVB Holdings in the sale of its majority stake in Fusion Insurance Services Limited to Towergate Underwriting Limited.
    • CBS Private Capital in the sale of its Lloyd’s agency business to Hampden Private Capital.
    • Benfield Group Limited in its $30 million investment in Glacier Re Holdings s.a.r.l., the Luxembourg holding company of the recently established Swiss-based start-up reinsurance company Glacier Reinsurance AG.
    • AXA Group and its main shareholder, FINAXA, in their €5 billion merger.
    • GoshawK Insurance in its sale of the reinsurance business of Rosemont Re to a consortium of private equity investors led by Don Kramer.
    • Rubicon Corporation in the sale of Link Underwriting Agency to the Guardian Insurance Group.
    • Prudential Financial in the sale of PRICOA Property Investment Management Limited, part of its real estate and investment advisory business in Europe, in a management buyout.
    • Benfield Group in the acquisition by Crawley Warren (USA), a wholly-owned subsidiary of Benfield Group, of an additional 43% interest in International Space Brokers, a unit of Frank Crystal & Co.
    • Benfield Group Limited in its $179 million acquisition of E.W. Blanch Holdings, Inc.
    • BNP Paribas and other underwriters in more than €1.3 billion of offerings by SCOR of shares and convertible bonds listed on the Premier Marché of Euronext Paris.
    • Benfield Group in its £157 million initial public offering of common shares, listed on the London Stock Exchange.
    • Citigroup and Crédit Suisse in the €1.7 billion initial public offering and listing on Euronext Paris of shares by Paris Re Holdings Limited, a Stone Point Capital portfolio company.
    • Stone Point Capital in the sale of Danish Re (Bermuda) Limited and all related subsidiaries of the Danish Re Group Worldwide to The Imagine Group.
    • Pacific Life Insurance in its acquisition of the International Life Reinsurance segment of Scottish Re Group Limited.
    • Swiss Reinsurance in the formation of a catastrophe bond program securitizing risks relating to earthquakes in the Mediterranean region and the issuance of $100 million of notes thereafter.
  • Asia

    • AIA in its cornerstone investment in a Chinese healthcare online start-up, WeDoctor, and related preferred distribution arrangements.
    • AIA Group in its $500 million offering of 3.90% notes due 2028.
    • Prudential Financial in its minority stake investment in Peak Reinsurance.
    • AIA Group in the 15-year extension of its exclusive regional bancassurance agreement with Public Bank, extending the partnership to 2037.
    • AIA Vietnam in its exclusive bancassurance agreement with VPBank.
    • AIA Group in its strategic bancassurance partnership with Bangkok Bank to distribute its insurance products in Thailand.
    • AIA Group in its AUS$3.8 billion acquisition of CommInsure and Sovereign, the life insurance businesses of the Commonwealth Bank of Australia in Australia and New Zealand, and related 20 year bancassurance agreements.
    • Prudential Financial in its life insurance joint venture with CT Corp in Indonesia.
    • AIA Group in its $500 million offering in Taiwan of 4.47% senior unsecured fixed rate notes due 2047.
    • American International Group in its sale of its Japan life insurance business to FWD.
    • FWD in a 15-year bancassurance agreement with An Binh Bank in Vietnam.
    • FWD in the sale of its Hong Kong Mandatory Provident Fund (MPF) and Occupational Retirement Schemes businesses to Sun Life Hong Kong Limited, and a 15-year strategic distribution agreement allowing FWD’s tied agency to distribute Sun Life’s MPF and ORSO products in Hong Kong.
    • Standard Chartered in a 15-year distribution partnership providing Manulife the exclusive right to offer its Mandatory Provident Fund (MPF) product to Standard Chartered’s customers in Hong Kong, and the acquisition by Manulife of Standard Chartered’s existing MPF and Occupational Retirement Schemes Ordinance businesses.
    • American International Group in its sale of a $1.2 billion stake in PICC Property and Casualty by means of a block trade.
    • American International Group in the sale of a $750 million stake in PICC Property and Casualty by means of a block trade in Hong Kong.
    • AIA Insurance Lanka, a subsidiary of Hong Kong-based life insurer AIA Group, in the sale of its stake in AIA General Insurance Lanka to Janakashi Insurance.
    • AXA in the sale of its mandatory pension business in Hong Kong to the Principal Financial Group.
    • AIA Group in the establishment of its $5 billion Rule 144A Global Medium Term Note Programme and subsequent offerings.
    • AIA Group in its landmark exclusive bancassurance partnership with Citibank to distribute its insurance products to 11 countries in the Asia Pacific region. This was the largest ever bancassurance deal in Asia.
    • American International Group in its $6.45 billion sale of ordinary shares of AIA Group.
    • American International Group in the restructuring of Chartis' interest in PICC and a cornerstone investment in PICC's Hong Kong initial public offering.
    • American International Group in the proposed sale, later terminated, of up to 90% interest in International Lease Finance Corporation to a consortium of Chinese investors in a transaction with an implied enterprise value of $27 billion.
    • AIA Group in its $1.7 billion acquisition of ING's insurance businesses.
    • AIA Group in the acquisition of Sri Lanka’s leading insurance company, Aviva NDB Insurance, from Aviva and Sri Lanka’s National Development Bank.
    • New York Life Insurance Company in the sale of New York Life Insurance Taiwan Corporation, its Taiwan life insurance subsidiary, to Taishin Financial Holding Co.
    • American International Group in its $6 billion sale of a portion of its controlling stake in AIA Group Limited.
    • American International Group in the tender offer by Chartis Japan Capital to acquire the remaining shares of Fuji Fire and Marine Insurance Co.
    • Prudential Financial in its strategic cooperation with Fosun Group, China’s leading investment company.
    • American International Group in its $2.16 billion sale of its 97% interest in Nan Shan Life Insurance Company to Ruen Chen Investment Holding Co. and Pou Chen Corporation.
    • American International Group and AIA Group in AIA’s spin-off from AIG and $20.51 billion initial public offering and listing in Hong Kong, constituting the largest IPO in Hong Kong’s history and the world’s largest IPO in the insurance sector.
    • Prudential Financial in its $4.8 billion acquisition of Japan-based AIG Star Life Insurance and AIG Edison Life Insurance from American International Group.
    • MassMutual in the sale of its interest in its Taiwan-based affiliate, MassMutual Mercuries Life Insurance Co.
    • American International Group in the proposed sale, later terminated, of AIA Group Limited to Prudential plc for $35.5 billion.
    • Prudential Financial in the $425 million sale of its South Korean investment and fund management business, Prudential Investment & Securities Co. Ltd. and Prudential Asset Management Co., to Hanwha Securities Co.
    • American International Group in its proposed $2.2 billion sale of Nan Shan Life Insurance Company, Ltd., the Taiwan life insurance company, to Primus Financial Holdings Limited and China Strategic Holdings Limited. This transaction was named “Deal of the Year” by Asian Counsel.
    • Prudential Financial in matters relating to The Gibraltar Life Insurance Company, a subsidiary of Prudential Financial, in its acquisition of Yamato Life.
    • China Life Insurance as U.S. counsel in its $3.62 billion listing of 1.5 billion A Shares on the Shanghai Stock Exchange.
    • American International Group in the acquisition of Central Insurance Co., a Taiwan property and casualty insurance company, in the first “going private” transaction in the financial services sector in Taiwan.
    • Prudential in its purchase, as part of a consortium with The Carlyle Group, of 25% of China Pacific Life Insurance, in conjunction with a matching investment by controlling shareholder China Pacific Insurance (Group).
    • Prudential Financial in the acquisition by Prudential Life Insurance Company, a wholly owned subsidiary of Prudential Financial, of Aoba Life Insurance Company.
    • China Life Insurance Company in its nearly $3.5 billion global initial public offering and listing on the New York Stock Exchange, the largest IPO worldwide in 2003.
    • Prudential Financial in its $1.2 billion acquisition of The Kyoei Life Insurance Company.