Stroock has provided comprehensive legal services to clients involved in or with the insurance and reinsurance industry since 1984. The 2007 edition of Chambers USA names Stroock as a top tier firm and notes the firm is "acclaimed for its excellent legal skills, business judgment and ability to develop a strategy to achieve a client’s goals." In 2004, 2005 and 2007, ReActions Magazine named Stroock as having one of the best insurance and reinsurance practices in the U.S., which include attorneys and consultants (some of whom are former regulators) with in-depth knowledge of the industry. Supporting this practice are attorneys with expertise in Corporate, Derivatives and Commodities, Financial Restructuring, Litigation and Structured Finance. This multidisciplinary approach is why Stroock is often the choice for all types of companies throughout the sector, including traditional insurance and reinsurance companies, commercial and investment banks and other potential investors. Clients include:
- Financial institutions, insurers, brokers and other corporate clients, including Atlantic Mutual, Specialty Underwriters’ Alliance, CIGNA and Liberty Mutual, in mergers, acquisitions, joint ventures, company formation, public and private securities transactions, demutualizations, structured finance and credit derivative transactions involving the insurance industry;
- Insurance and reinsurance company and investment banking clients, including Swiss Re, MBIA, FGIC, Goldman Sachs and Lehman Brothers to develop innovative products, often combining insurance or reinsurance risk transfer methods with capital market risk-transfer devices;
- Cedents, reinsurers, retrocessionaires, syndicate/pool managers, syndicate/pool members and intermediaries in a wide range of matters in arbitrations and litigations throughout the United States and internationally;
- Corporations and directors and officers in analyzing their insurance coverage and defending claims brought by shareholders, creditors and governmental entities;
- Investors and shareholders in insurance and reinsurance company insolvencies; and
- Insurance regulatory authorities, principally for counsel and assistance in connection with regulatory approvals of mergers, acquisitions, demutualizations and other complex financial transactions, and to represent them in connection with their role as rehabilitator or liquidator of the estates of insolvent insurers. We actively participate in the work of the National Association of Insurance Commissioners in developing model laws and regulations and white papers, and we serve as counsel to the Society of Financial Examiners and the International Association of Insurance Receivers.
For more information, visit our Insurance Group page.