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, Bernhardt has represented acquirors and sellers in 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, sponsored demutualizations and a mutual holding company conversion.
In the securitization area, Bernhardt has been involved in reserve financing and embedded value transactions. He has represented insurers and reinsurers in property casualty, life and annuity reinsurance transactions, as well as in general corporate and related regulatory matters.
Chambers USA has recognized Bernhardt as a leading insurance transactional attorney for many years. He also has been nationally recommended by The Legal 500 United States.
- Atlas Merchant Capital in $2.05 billion acquisition of Talcott Resolution, the run-off life insurance and annuity division of The Hartford;
- ORIX Life Insurance Corporation in $1.4 billion acquisition of The Hartford’s Japanese variable annuity subsidiary;
- Talcott Resolution buyer consortium in $9.6 billion structured settlement and fixed annuity reinsurance transaction with Global Atlantic;
- CIGNA Corp. in its $2.1 billion sale of CIGNA Life Insurance Company and CIGNA’s retirement (including variable and fixed annuities) business to Prudential Financial, Inc.;
- Leading investment bank in $2 billion Japanese variable annuity reinsurance transaction;
- Reservoir Capital and Black Diamond Capital in acquisition of SBLI USA Mutual Life Insurance Company through a sponsored demutualization;
- Nomura in (i) $2.9 billion closed block reinsurance transaction for Phoenix Life Insurance Company and (ii) $1 billion in reserve financing transactions;
- Atlas Merchant Capital in investment in Somerset Reinsurance Ltd.;
- Arch Insurance Company in (i) acquisition of alternative market business of SPARTA Insurance Holdings, Inc. and (ii) $400 million loss portfolio transfer reinsurance transaction with Catalina;
- Management of Royal & Sun Alliance USA, Inc. in its $300 million buyout of the U.S. operations of Royal & Sun Alliance Insurance Group plc;
- 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;
- Crédit Agricole in $2.3 billion in Triple X and Guideline AXXX reserve financing transactions;
- Goldman Sachs in expansion of its property casualty business, including block of business acquisition, regulatory compliance and reinsurance matters;
- 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. in its $555 million Regulation Triple X reserve financing provided to Scottish Re Group;
- 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.
- Chambers USA: America’s Leading Lawyers for Business, Leading Insurance Transactional Attorney
- The Legal 500 United States, Nationally Recommended
- Member, Insurance Law Committee, New York City Bar Association
- Panelist, "What's New in Reserve Financing," SOA Valuation Actuary Symposium, Indianapolis, IN, September 23-24, 2013
- Panelist, "New Developments in Securitization 2011," Practising Law Institute, New York, NY, December 1-2, 2011
J.D., New York University School of Law, 1995
A.B., magna cum laude, Harvard College, 1992
June 1, 2018|Press ReleaseStroock Advises Atlas Merchant Capital as Co-Lead Investor in Closing of $2 Billion Acquisition of Talcott Resolution from The Hartford
June 1, 2018|Press ReleaseStroock Receives Honors in 16 Practices from The Legal 500 United States 2018:
38 Stroock Lawyers Recognized
Spring 2018|AIRROC MattersRobert Lewin, Michele Jacobson, Laura Besvinick, Julie Nevins, Vincent Laurenzano and Bernhardt Nadell featured in “AIRROC at 180 Maiden Lane”
May 3, 2018|Press ReleaseStroock Ranked in 11 Practice Areas by Chambers USA 2018; 29 Leading Lawyers Recognized
December 5, 2017|Press ReleaseStroock Advising Atlas Merchant Capital as Co-Lead Investor in $2 Billion Acquisition of Talcott Resolution from The Hartford
December 4, 2017|Law360Stroock deal team mentioned in "Hartford Sells Life Insurance Business For $2.05B"
June 2, 2017|Press ReleaseStroock Receives High Honors in 13 Practices from The Legal 500 United States 2017: 37 Stroock Attorneys Recognized
June 1, 2017|Press ReleaseStroock Earns Top Tier Rank in 11 Practices by Chambers USA 2017: 30 Leading Attorneys Recognized
May 27, 2016 |Press ReleaseStroock Ranked By Chambers USA For 2016
May 19, 2015Stroock Ranked By Chambers USA For 2015
June 25, 2014Stroock Attorneys and Practices Ranked by The Legal 500 United States 2014
Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles, Miami and Washington, DC, announced that it has once again been recognized in The Legal 500 United States with 27 attorney and 8 practice area rankings.
May 27, 2014Stroock Ranked By Chambers USA For 2014
Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles, Miami and Washington, DC, announced that it has again been recognized in Chambers USA: America's Leading Lawyers for Business.
For the 2014 edition, 29 Stroock partners and counsel from 12 Stroock practice groups were recognized for excellence by Chambers USA.
June 20, 2013Stroock Attorneys and Practices Recommended by The Legal 500 United States 2013
May 24, 2013Stroock Ranked by Chambers USA Law Firm Rankings for 2013
New York, NY, May 24, 2013 -- Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles and Miami, announced that it has again been recognized in Chambers USA: America's Leading Lawyers for Business.
For the 2013 edition, 31 Stroock partners and counsel from 12 Stroock practice groups were recognized for excellence by Chambers USA.Click here to read the full press release.
June 7, 2012Stroock Ranked by the Chambers USA Law Firm Rankings for 2012
Stroock announced that it has again been recognized in Chambers USA: America's Leading Lawyers for Business. For the 2012 edition, 11 Stroock practice areas and 32 Stroock attorneys were ranked by Chambers USA, in the geographic categories of Nationwide, California, Florida and New York.
June 20, 2011Stroock Ranked by the Chambers USA Law Firm Rankings for 2011
Stroock announced that it has again been recognized in Chambers USA: America's Leading Lawyers for Business. For the 2011 edition, 13 Stroock practice areas and 32 Stroock attorneys were ranked by Chambers USA, in the geographic categories of Nationwide, California, Florida and New York.
June 11, 2010Stroock Is Ranked by the Chambers USA Law Firm Rankings for 2010
32 Stroock attorneys and 12 practice areas were recommended by Chambers, including our Capital Markets, Entertainment, Financial Restructuring, Insurance, Investment Management, Litigation, and Real Estate practices.
Read about the firm's rankings in our press release.
June 12, 2009Stroock Is Recognized by the Annual Chambers USA Law Firm Rankings for 2009
Chambers USA has once again listed Stroock attorneys as some of the top practitioners in the nation. In its 2009 edition, Chambers USA named 31 Stroock attorneys across 23 of the firm's practice areas.
April 23, 2008Stroock Selected Again as “Law Firm of the Year” by Total Securitization
Stroock was once again selected as “Law Firm of the Year” by Total Securitization in April 2008. Stroock is the only firm to win the award multiple times (2005, 2008). The Annual U.S. Securitization Awards honor the top institutions in the securitization industry in many categories, including the law firm of the year. In selecting Stroock, Total Securitization noted that Stroock’s clients praised the firm for the quality of its advice and for its consistent ability to deliver innovative and market leading solutions.
April 3, 2008Capital Markets Crisis Group Expansion
September 28, 2006Stroock Represents Arrowpoint Capital Corp. in Management Buyout of Royal & Sun Alliance USA
December 13, 2005Stroock Names Five New Partners
June 2018|Stroock Special Bulletin“NAIC Updates – June 2018”January 2018|Stroock Special Bulletin"NAIC Updates – January 2018"October 2017|Stroock Special Bulletin"NAIC Updates – October 2017"May 2016|Stroock Special Bulletin"NAIC Updates – May 2016"January 19, 2016|Stroock Special Bulletin"NAIC Updates – January 2016"October 1, 2015|Stroock Special Bulletin"Updates on Principle-Based Reserving"October 1, 2015|Stroock Special Bulletin"2015 NAIC Summer Meeting – Updates From the Reinsurance Task Force"August 18, 2015|Stroock Special Bulletin"Exposure of XXX/AXXX Credit for Reinsurance Model Regulation Draft and Revisions to Credit for Reinsurance Model Law"October 28, 2014|Stroock Special Bulletin"Recent Developments at the NAIC Private Equity Issues (E) Working Group"May 1, 2014|Stroock Special Bulletin"Update on Principle-Based Reserving"April 3, 2014|Stroock Special Bulletin“Update on Private Equity Issues in the Insurance Industry”January 30, 2014|Stroock Special BulletinInsurance UpdatesOctober 7, 2013|Stroock Special Bulletin"Insurance Updates"July 24, 2013|Stroock Special Bulletin"Developments from the NAIC’s Financial Condition (E) Committee"May 14, 2013|Stroock Special Bulletin"Developments from the NAIC 2013 Spring National Meeting"December 28, 2012|Stroock Special Bulletin"Developments from the NAIC 2012 Fall National Meeting"October 25, 2012|Stroock Special Bulletin"Recent Developments Regarding the Use of Captives and Special Purpose Vehicles"August 27, 2012|Stroock Special BulletinDevelopments from the NAIC 2012 Summer National MeetingJune 27, 2012|Stroock Special Bulletin"Insurance Updates"April 17, 2012|Stroock Special Bulletin"Insurance Updates"March 14, 2012|Stroock Special Bulletin"Developments from the NAIC 2012 Spring National Meeting"February 13, 2012|Stroock Special Bulletin"Insurance Updates"November 17, 2011|Stroock Special Bulletin"Developments from the NAIC 2011 Fall National Meeting"October 13, 2011|Stroock Special Bulletin"National Association of Insurance Commissioners to Review Insurers’ Use of Captives"July 22, 2010|Stroock Special Bulletin"Update on Significant Insurance Provisions of Dodd-Frank"July 7, 2010|Stroock Special Bulletin"Significant Insurance Provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act"March 2010|Bloomberg Insurance Law Vol. 4 No. 3"Private Run-Offs: Alternatives to Government Administration of Troubled Insurance Companies"March 2009|Stroock Special Bulletin“Structured Insurance Finance: From Cat Bonds to Regulation Triple X”January 30, 2009|Stroock Special BulletinNAIC Executive Committee Votes Against Adoption of ACLI ProposalsJuly/August 2007|Journal of Taxation and Regulation of Financial Institutions“Insurance Securitizations: Coping With Excess Reserve Requirements Under Insurance Regulations”December 2005|Stroock Client Memorandum