Bernhardt Nadell concentrates primarily in insurance industry mergers and acquisitions, insurance-linked securities transactions, reinsurance, insurance law and general corporate matters. In the area of mergers and acquisitions, he has represented acquirors and sellers in a number of complex insurance-related transactions, including acquisitions of run-off companies, management buyouts, acquisitions of annuity business, asset transfers, renewal rights transactions, acquisitions from distressed insurers, a sponsored demutualization and a mutual holding company conversion. In the securitization area, he has been involved in several Regulation Triple X and Guideline AXXX reserve funding and embedded value transactions. Mr. Nadell has also represented insurers and reinsurers in numerous property casualty and life reinsurance transactions, as well as in general corporate and related regulatory matters.
He joined Stroock from the law firm of Skadden, Arps, Slate, Meagher & Flom LLP, where he served as Counsel in its mergers and acquisitions and insurance practices. In recent years at Stroock or Skadden, Mr. Nadell has represented:
Management of Royal & SunAlliance USA, Inc. in its $300 million buyout of the U.S. operations of Royal & Sun Alliance Insurance Group plc;
Goldman Sachs in expansion of its property casualty business, including block of business acquisition, regulatory compliance and reinsurance matters;
Special Committee of the Board of Directors of Atlantic Mutual Insurance Company in the sale of its personal lines business to The ACE Group of Companies;
CIGNA Corp. in its $2.1 billion sale of CIGNA Life Insurance Company and CIGNA�s retirement (including annuity and investment products) business to Prudential Financial, Inc.;
Citibank, N.A. in reinsurance of $1.9 billion Japanese variable annuity business;
MBIA in $800 million Northwind Re embedded value securitization for Unum Group;
Citibank, N.A. and Calyon New York Branch in their $555 million Regulation Triple X reserve financing provided to Scottish Re Group;
MBIA in $315 million Rivermont I Guideline AXXX reserve funding securitization for Genworth Financial, Inc.;
Liberty Mutual Insurance Company in its $550 million acquisition of Prudential Property and Casualty Insurance Company;
Endurance Reinsurance Corporation of America in its acquisition of renewal rights and $400 million unearned premium reserve from Hartford Fire Insurance Company;
Travelers Property Casualty Corporation in its $580 million acquisition of the surety and fidelity bond business of Reliance Insurance Company and its affiliates;
Travelers Property Casualty Corporation in its $125 million sale of a minority investment in Gulf Insurance Group to Trident II, L.P. and related investment funds;
Liberty Mutual Insurance Company, Liberty Mutual Fire Insurance Company and Employers Insurance of Wausau A Mutual Company in the first formation of a mutual holding company in Massachusetts and the subsequent merger of mutual holding companies;
AmerUs Group Co. in its sponsored demutualization/acquisition of Indianapolis Life Insurance Company;
New York Life Insurance Company in the sale of its individual disability income insurance business to UnumProvident Corporation and modified coinsurance of $800 million in reserves;
Liberty Mutual Insurance Company in its affiliation with Employers Insurance of Wausau, A Mutual Company and acquisition of its stock insurance company subsidiaries; and
Jacobson Partners in its acquisition of the airline products business of Stewart & Stevenson Services, Inc.
Admitted to Practice
New York, 1996
Education
J.D., New York University School of Law, 1995
A.B., magna cum laude, Harvard College, 1992 |