Sullivan & Cromwell provides dedicated insurance expertise in corporate, M&A, capital markets, private equity, risk transfer, insurance regulatory, tax and litigation matters to some of the largest U.S. and non-U.S. insurance and reinsurance companies and intermediaries. The Firm represents and has broad transactional experience involving life, property/casualty, health and managed care, financial guaranty and other specialty line and multiline companies, as well as agents, brokers and reinsurance intermediaries, and has in-depth expertise in:

• mergers, acquisitions and other change-of-control transactions, including the insurance regulatory approvals and filings incident thereto
• financings and the applicable disclosure requirements
• restructurings, including rehabilitations, liquidations and other financial distress situations
• offshore insurers and reinsurers
• demutualizations and mutual holding company structures
• reinsurance transactions
• insurance derivatives, insurance risk securitization, transformer vehicles and captives
• existing and potential federal regulation of insurers and affiliates, including as systemically significant financial institutions
• Sarbanes-Oxley disclosure and corporate governance matters
• regulatory investigations
• antitrust and the McCarran-Ferguson Act
• the Terrorism Risk Insurance Act of 2002 and amendments
• U.S. taxation of insurance companies
• European Union matters

The Insurance Group also advises on major policy coverage issues, particularly with respect to environmental and product liability coverages, and provides litigation expertise involving insurance and reinsurance coverage and claims matters and other disputes.

The Insurance Group deals on a frequent basis with insurance departments in New York and other states, as well as foreign regulators, and, together with the Firm’s Banking Group, U.S. federal banking authorities.