Delaware has over 125 traditional insurance companies domiciled in the state and primarily regulated by the Delaware Department of Insurance, and hundreds more that are domiciled elsewhere but authorized to write business in Delaware. Our attorneys have years of experience representing these companies in a multitude of regulatory and transactional issues, including:
- mergers and acquisitions;
- intra-holding company transactions;
- investment limitations;
- solvency and receiverships;
- form and rate filings;
- Life and P&C reinsurance transactions.
Delaware is also home to approximately 1,000 captive insurance vehicles and, in just the last ten years, has become one of the world’s leading captive domiciles. Our attorneys were on the forefront of the 2005 re-enactment of our captive insurance statutes, and our firm is represented on the board of directors of the Delaware Captive Insurance Association. Representative captive insurance clients include:
- Multiple special purpose financial captives designed to provide surplus relief to life insurers reserving under Regulation XXX and AXXX;
- A special purpose captive designed to provide specialized annuity products to private equity funds; and
- An agency captive reinsuring surety business produced by one of the state’s premier surety brokers.
We also actively represent the interests of our insurance company and insurance trade organization clients before the Delaware General Assembly.