1 March 2011
New York – Mayer Brown, a leading global law firm, announced today that veteran insurance industry lawyer Keith Andruschak has joined the firm as a partner in the Banking & Finance practice and the Insurance Industry Group in New York. Previously, he was a partner with Stroock & Stroock & Lavan LLP.
Mr. Andruschak focuses his practice on transactions involving the insurance industry, including insurance structured finance, Regulation XXX and other life insurance and reinsurance solutions, mergers and acquisitions of insurers and reinsurers and insurance-linked securities. He advises clients in connection with unique insurance and annuity product design, alternative risk transfer arrangements and derivatives. He also provides counsel on general corporate and securities matters, including mergers and acquisitions, private equity and venture capital investments in the high-tech, biotech and pharmaceutical industries. His clients include domestic and foreign commercial and investment banks, life and property/casualty insurers and reinsurers, hedge funds and private equity investors.
“Mayer Brown is the perfect fit for me because of the firm’s commitment to the insurance industry, its team-oriented approach to offering the full range of practice areas needed to effectively serve the needs of insurance industry clients and its global platform,” Mr. Andruschak said. “I look forward to working with my new colleagues in New York and throughout Mayer Brown to build my practice and contribute to the continued growth of the Insurance Industry Group and the firm’s Banking & Finance practice.”
Richard A. Spehr, partner-in-charge of Mayer Brown’s New York office, said: “Keith’s arrival will reinforce the positive growth momentum in New York, where we have added ten lateral partners in the past year in several different practices, including Capital Markets, Banking & Finance, Corporate & Securities, Real Estate and Restructuring, Bankruptcy & Insolvency.”
Representative matters on which Keith has worked include:
- M&A: represented Tiptree Financial Partners, LP in its acquisition of The Philadelphia Group from The Phoenix Companies Inc., including two life insurers, a broker-dealer and an insurance agency;
- Reinsurance/Structured Finance: represented Goldman Sachs, Ambac, MBIA, FGIC and XL Capital Assurance in connection with over a dozen life insurance reserve funding securitizations, including structures designed for Regulation Triple-X, Guideline AXXX and the monetization of embedded value;
- Reinsurance/Structured Lending/Derivatives: represented BNP Paribas, The Royal Bank of Scotland and Credit Agricole structuring, negotiating and closing unfunded reserve financings backed by structured letters of credit, including associated hedging strategies;
- Reinsurance: represented Best Buy, Inc. and its affiliates in connection with a comprehensive offshore self reinsurance program fronted by a leading insurance company;
- Reinsurance: represented Goldman Sachs Group, including its Bermuda and Lloyd’s affiliates in connection with catastrophe insurance and reinsurance, industry loss warranties, long-term credit and political risk insurance and insurance-linked securities;
- M&A/Capital Markets/Regulatory: represented the New York Insurance Department in connection with its review and approval of the mutual to stock conversions of Phoenix Home Life Mutual, Principal Mutual Holding Company and Provident Mutual;
- Securities: represented Kingsbridge Capital Ltd. in connection with over $1 billion committed equity financing (PIPE) transactions, including private placements and registered direct offerings; and
- Insurance Products: designed a unique collateralized insurance/swap hybrid to hedge mortality risk on defined portfolios of secondary market annuities.
Mr. Andruschak received a bachelor’s degree from the University of Rochester (with honors) and holds a JD from Syracuse University School of Law, graduating magna cum laude.