Michael R. Halsband

Partner New York

About

Michael R. Halsband has more than 25 years of leadership experience in the insurance and reinsurance industry, including in investment banking and capital markets. He is a partner in the firm’s Corporate and Securities Practice Group and a member of its Insurance Regulatory and Transactional Team.

Michael’s experience includes insurance M&A, structured reinsurance, formation and capital raises for start-ups (including extensive InsurTech representations), insurance-linked securities (ILS), and loss portfolio run-off and administration. His broad industry knowledge comes from spearheading numerous business initiatives and innovative offerings at Sirius Group, Goldman Sachs, Deutsche Bank and Alea Group.

Since joining Drinker Biddle in 2015, Michael has built an innovative transactional practice and is valued by clients as much for his guidance on legal issues as his pragmatic and effective business acumen.

Experience

  • Manatee Re II Ltd. Series 2018-1 Principal-at-Risk Variable Rate Notes – underwriters counsel
  • Sanders Re Ltd., Series 2017-2 Class A Principal-at-Risk Variable Rate Notes – underwriters counsel
  • Ursa Re Ltd. Series 2017-2 – special counsel to cedant (California Earthquake Authority)
  • Blue Halo Re Ltd. Series 2016-2 – special counsel to cedant (Allianz Risk Transfer)
  • Blue Halo Re Ltd. Series 2016-1 – special counsel to cedant (Allianz Risk Transfer)
  • Led close to 30 insurance risk linked securitizations (cat bonds, loans and sidecars) securitizing nearly $7 billion of catastrophe exposed insurance risk
  • Introduced some of the ILS sector’s more innovative structures, including: earliest primary insurance sidecar (Concord Re), first health insurance medical loss ratio securitization (Vitality Re), earliest use of a PCS county weighted index in a 144A note (Ibis Re), first fully levered sidecar cat loan (Emerson Re), first cat risk securitization to provide cat protection for the benefit of CEA (Embarcadero I-III)
  • Led design and formation of reinsurer sponsored cat convergence ILS platform: Sirius Capital Markets (registered investment advisor), SCM High Yield Reinsurance Risk, Strategies Fund Ltd. (master-feeder hedge fund platform) and Alstead Re Ltd. (segregated cell transformer reinsurer)
  • Rhino Labs, Inc. in its formation and Series Seed Preferred Stock initial capital raise of $1.5 million with a prominent venture capital firm
  • Boost Insurance in its formation, and various transactional and regulatory matters
  • Coverys Group in its acquisition of Randall & Quilter Managing Agency Ltd. (RQMA), a fully authorized Lloyd’s managing agency based in London
  • Nationwide Mutual Insurance Company in its renewal rights transaction with National General Holdings Corp. for its personal and commercial non-standard vehicle in-force policies
  • A Northeast regional insurance broker in its acquisition of a Philadelphia-based insurance broker and consulting firm
  • Foundation Risk Partners in connection with their acquisition of Corporate Synergies, LLC

Credentials

Bar Admissions

  • New York

Education

  • Rutgers University School of Law - Newark, J.D., 1989
  • Muhlenberg College, B.A., 1986

Court Admissions

  • U.S. District Court, Eastern District of New York
  • U.S. District Court, Southern District of New York