Insurance and Reinsurance

Michael began his legal career at Ropes & Gray representing Lloyd’s and other London Market participants. After transitioning to corporate transactional law, Michael served as an in-house lawyer for two insurance groups (Plymouth Rock and MAPFRE) for more than 23 years. Michael has held the following positions and others in the insurance and reinsurance spaces:

• Senior Vice President and Deputy General Counsel, MAPFRE USA
• Director of Business Development and Counsel to the CEO, Plymouth Rock Assurance Corp.
• Interim CEO, Road America, MAPFRE’s North American roadside assistance provider
• Interim CEO, Encharter Insurance Group, a $40 million regional insurance agency owned by Plymouth Rock
• Director of Compare.com, an Insurtech joint venture among Admiral Group (LON: ADM), White Mountains Insurance (NYSE: WMT), and MAPFRE (BME: MAP)

The firm provides the following services:

• Company licensing, including formation and expansion applications
• Regulatory affairs in support of company acquisitions and sales
• Drafting and obtaining approvals for inter-company agreements
• Insurance Holding Company Act compliance, including registration statements and corporate governance annual disclosures
• Responding to financial and market conduct examinations
• Structuring and restructuring reinsurance arrangements
• Reviewing reinsurance agreements and ensuring compliance with credit for reinsurance laws and regulations
• Collaborating with financial experts to prepare rating agency presentations
• Drafting and negotiating agency and profit sharing agreements and ensuring compliance with producer laws and regulations

Representative Transactions

• Led regulatory approval process for MAPFRE’s $2.2B acquisition of The Commerce Group, Inc. (NYSE: CGI and now MAPFRE USA).
• Headed up UCCA licensing and expansion application process for Auto Club MAPFRE Insurance Company in Ohio, Washington, and Idaho.
• Coordinated state approvals of inter-company reinsurance, management, and tax allocation agreements.
• Responsible for more than 10 years for annual Form B Holding Company Registration Statements and led efforts for years to file corporate governance annual disclosures.
• Successfully resolved financial and market conduct examinations in Massachusetts, California, New York, and Florida.
• Partnering with Munich Re and Global Aerospace, restructured MAPFRE’s U.S. aviation reinsurance program and obtained regulatory approvals in Delaware and Vermont.
• Part of the team that obtained an A- rating from A.M. Best Company after the acquisition of a “shell” company from MAPFRE Life Insurance Company from HCC Insurance.