A prominent insurance and reinsurance focused lawyer has been added to the Drinker Biddle & Reath LLP Insurance Regulatory and Transactional Team, with the hire of Jay A. Kallas, previously with insurer Allstate where he worked on the companies catastrophe bond issues.
Drinker Biddle said that Kallas focuses his legal practice on structured insurance and reinsurance transactions, including having advised on various types of life, property and casualty reinsurance agreements, including structures such as quota share treaties, co-insurance arrangements, excess of loss coverage and catastrophe bonds.
Kallas, a transactional and regulatory lawyer with over 15 years of experience, has worked on a range of large and complex insurance and reinsurance deals. Most recently he was Corporate Counsel for Allstate in its Investments and Business Transactions Department, where he advised on many of the insurers reinsurance arrangements, including its insurance-linked securities (ILS).
“Jay is an experienced attorney who brings senior-level regulatory and transactional knowledge to support our reinsurance and insurance clients,” commented Thomas M. Dawson, partner and co-chair of Drinker Biddle’s Insurance Regulatory and Transactional team. “His experience leading deal executions and strong ties within the insurance industry enhances the capabilities of our team in Chicago and nationwide.”
Kallas joins the Drinker Biddle & Reath LLP Corporate and Securities Group and will be based in the firm’s Chicago office.
Kallas will add important ceding company side experience of ILS and reinsurance convergence law to Drinker Biddle & Reath, helping the firm to expand its expertise in this growing area of the market.