J.P. HONG is special counsel in the firm’s Chicago office and practices in the global Insurance and Financial Services group. J.P.’s practice focuses on a variety of corporate, securities and regulatory matters relating to the insurance and financial services industry, including the representation of investment banks in connection with reserve financing and hedge transactions, the representation of sponsors, issuers, underwriters and investors in connection with insurance-linked securities offerings, the representation of corporates in connection with their captive insurance and reinsurance programs and the representation of commercial banks in connection with stable value transactions.
J.P. passed the California CPA examination in 2002 and worked at the Seoul offices of two Big 4 accounting firms prior to law school. He also served in the military as an intelligence analyst from 1997 to 2000.
Examples of J.P.’s experience include representation of:
- A large global airline on its captive insurance program, including a reinsurance transaction for the airline’s captive insurance company.
- A leading medical center on its captive insurance program, including a loss portfolio transaction with respect to health professional liability and general liability.
- Apollo Global Management in its $2.6 billion acquisition of publicly traded Aspen Insurance Holdings.
- Markel Corporation in its acquisition of substantially all of the assets of CATCo Investment Management Ltd.
- Munich Re in its $300 million Eden Re II (2018-1) reinsurance sidecar and $400 million Leo Re (2018-1) reinsurance sidecar.
- Validus/AlphaCat Managers in connection with its insurance-linked securities funds and reinsurance sidecar transactions.
- Japanese insurer Zenkyoren on the transfer of a combined $2.575 billion of earthquake risk through the Nakama Re series of catastrophe bonds (2014–2020).
- Reinsurance Group of America in its acquisition of Aurora National Life Assurance Co. from Swiss Re.
- American International Group on the transfer of a combined $1.325 billion of multiple-peril catastrophe risk through the Compass Re II 2015-1, Tradewynd Re 2014-1, and award-winning Tradewynd Re 2013-2 and Tradewynd Re 2013-1 bonds.
- Hartford Financial Services in the sale of its retirement plans business to Massachusetts Mutual Life Insurance.
- Cigna in its acquisition of Great American Supplemental Benefits Group.