legal

Law firm Drinker Biddle & Reath LLP has elected insurance-linked securities (ILS) and capital market / reinsurance convergence focused executive Michael Halsband to a partner position at the firm.

Global law firm Dentons has appointed new hire John J. Sarchio as a partner in the Insurance Regulatory practice. Sarchio has experience in insurance and reinsurance transactional law, including catastrophe bonds, sidecars and other ILS arrangements.

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.

Harneys, a legal and fiduciary services firm with offices in twelve countries, has added an insurance-linked securities (ILS) and reinsurance experienced lawyer to its Bermuda team, hiring Michael Skribic to its ranks.

Experienced financial services attorney and former Mayer Brown partner, Keith Andruschak, has joined the Winston & Strawn Corporate Practice as a partner in New York, an appointment that will enhance the firm’s insurance-linked securities (ILS) and reinsurance capabilities.

Insurance-linked securities (ILS) and capital market / reinsurance convergence focused senior executive Michael Halsband is joining law firm Drinker Biddle & Reath as part of the firm’s Insurance Transactional and Regulatory Team.

The Association of Bermuda Insurers and Reinsurers (ABIR) has submitted comments in response to the U.S. Treasury Internal Revenue Service’s proposed rules targeting the perceived tax issue associated with hedge fund reinsurance strategies.

The insurance-linked securities (ILS) and reinsurance market legal, fiduciary and management services offered by Appleby Group will not change in the face of a private equity backed management buyout of its fiduciary unit.

Insurance and reinsurance rating agency A.M. Best said that it does not expect any impact to any reinsurance firm’s it provides ratings for as a result of the recently introduced offshore, or hedge fund targeting, reinsurance tax legislation.

Legislation has been introduced by Oregon Senator Ron Wyden stipulating rules under which a hedge fund or hybrid investment / underwriting reinsurance firm would have to ensure a certain percentage of its assets were allocated to underwriting at all times.