Vikram Sidhu

Vikram also regularly advises insurtech clients on the establishment and growth of their businesses as well as large tech companies on insurance products and businesses. Vikram is a transactional and regulatory specialist with an impressive client base that includes insurance carriers and global corporations. He regularly advises on M&A, joint ventures and reorganizations

In addition, Vikram advises clients on the full range of insurance regulatory issues under US states’ insurance laws and regulations, such as insurance holding company regulations, surplus lines and other non-admitted insurance, change in control and redomestications, innovation (including artificial intelligence), development of new insurance products, insurance captives, insurer insolvency and run-off of existing liabilities, and insurance producer licensing and regulatory compliance.

Clients served by Vikram include Arch, AXA XL, QBE and SiriusPoint.

• AXA XL on the sale of its US crop insurance business including the sale of AXA XL’s wholly owned subsidiary Global Ag, as well as transfer of AXA XL’s crop insurance policies through reinsurance, assignment and assumption, and transfer of administration.
• GeoVera Insurance Holdings (a Flexpoint Ford portfolio company) on the sale of its group of GeoVera insurance companies and managing general agent, to a group of investors.
• SiriusPoint in a $400 million loss portfolio transfer transaction with Enstar.
• Various insurers and insureds in significant risk transfer (SRT) and credit risk transfer (CRT) insurance programs.
• SiriusPoint Ltd. on the acquisition of Assist America, a global travel assistance provider with entities in the U.S., China, Hong Kong, Thailand, India and the Philippines.
• QBE in an approximately $1.2 billion LPT transaction covering a diversified portfolio of US, UK, European, Australian and other international insurance business with Riverstone.
• QBE in a $376 million LPT transaction with Cavello Bay of the Enstar Group covering North American general aviation portfolios and several US discontinued programs.
• A major global insurance group in a USD 1.9 billion loss portfolio transfer transaction with an international legacy specialist group.
• A major global insurance group in a USD 1.3 billion loss portfolio transfer transaction with an international legacy specialty group.
• At-Bay in acquisition of insurance company and launch of US surplus lines insurer.
• A joint venture in the acquisition of product liability claims relating to coal dust, asbestos, silica, and other exposures from a manufacturing group.
• SiriusPoint in the sale of environmental business to Distinguished.
• A major global insurance group on its sale of a USD 350 million portfolio of legacy insurance business to an international legacy specialist group.
• A major US/Bermuda insurance group on its sale of a USD 417 million portfolio of legacy insurance business to an international legacy specialist group.
• A large global insurer on the restructuring of its discontinued business programs and related reinsurance transactions.
• A large French insurer on the assumption of health insurance risk from US cedents and legal and regulatory issues with respect thereto.
• A major European insurance group in its sale of US legacy/runoff business consisting of a USD 100 million asbestos, pollution and health hazard legacy portfolio.
• A major US/Bermuda global insurance group in the development of the new mortgage credit risk transfer program for Fannie Mae and Integrated Mortgage Insurance (IMAGIN) for Freddie Mac.
• Arch in its USD 3.4 billion acquisition of a mortgage insurance business in 2016 and entry into the US mortgage insurance business in 2014 through the acquisition of a mortgage insurance company and operating assets for approximately USD 300 million.
• A major Bermuda-based runoff group in connection with the acquisition of two groups of companies.
• A Bermuda-based group in the acquisition of a life insurance company and the establishment of a US life reinsurance company.
• A global insurance group in its acquisition of property and casualty and crop insurance companies.
• A large US financial institution in connection with its acquisition, through reinsurance, of USD 1.7 billion of policies and corresponding reserves and related assets from life insurer as part of court-ordered rehabilitation and separately its acquisition of a life insurance company.
• A US insurance group in connection with divestiture of its runoff business.
• A global insurance group in the sale of a property and casualty runoff portfolio.

Regulatory matters

Represented:

• Several non-US insurers in their applications to be included as eligible alien surplus lines insurers in the NAIC Quarterly Listing of Alien Insurers.
• A global on-line travel group for insurance regulatory and transactional matters.
• Various insurtechs in the launch and establishment of US and global businesses.
• A reinsurance brokerage in the establishment of business focused on the United States and Latin America, including licensing as a reinsurance intermediary across the United States.
• MGAs in all aspects of insurance intermediary licensing and agreements between managing general agents and underwriters.
• Various insurance groups in the preparation of all regulatory filings for change of control and other aspects of acquisitions of insurance companies and related regulatory approvals.
• Various clients on the establishment of global or multinational insurance programs.
• Various insurance and reinsurance clients as well as insureds under financial guaranty and credit insurance programs.
• Various insurance and reinsurance clients on development and launch of parametric insurance and environmental/climate change insurance products.
• Various clients with respect to insurance regulatory requirements with respect to:
  • Doing insurance business in the United States, including providing insurance coverage to US insureds directly from offshore and on a surplus lines or other non-admitted basis and establishing new licensed insurance companies and branches in the United States;
  • Insurance holding company laws and regulations and required filings;
  • Credit for reinsurance and collateral requirements under the US states' insurance laws and regulations; and
  • Other insurance laws and regulations with respect to insurance companies, producers and insurance products
• The Bermuda subsidiary of one of the world's largest insurance groups in structuring, negotiation and documentation of "transformer" reinsurance transactions with alternative risk providers.
• A Bermuda investment manager in transformer and alternative risk transfer transactions.

Non-insurance transactions

Represented:

• A major investor in the restructuring of developing country sovereign debt.
• An acquirer in the acquisition of a metals recycling and steel business.
• A major microfinance institution in a USD 105 million transaction with respect to a microfinance fund.
• A consortium of selling shareholders in an African bank.
• A joint venture in connection with real estate investments in India.
• A foundation in the sale of 30 major works of contemporary art.