PERRY SHWACHMAN is the leader of Sidley’s global Financial Institutions group, and a member of the firm’s Management Committee and Executive Committee. He regularly counsels clients on a wide variety of matters involving the insurance industry. His clients include insurance companies, commercial and investment banks, investment managers and other financial institutions that transact with insurance companies.
For over 30 years he has advised clients on merger and acquisition, reinsurance, securities, insurance securitization, private equity, lending, derivative, structured product, structured investment vehicle and stable value transactions, as well as on insurance regulatory matters. Perry has been at the forefront in the development of life insurance securitizations and has helped structure some of the first embedded value, redundant reserve financing and catastrophic mortality linked securities transactions. In addition to life and health insurance, he also has substantial experience with property and casualty, financial guaranty and mortgage insurance matters.
Perry has been recognized by Chambers USA for his work in Insurance: Transactional & Regulatory in Illinois (Band 1, 2008–2023) as well as his Nationwide Insurance: Transactional & Regulatory practice (2013–2023). Clients in the 2023 edition of Chambers USA praise Perry as a “legend in insurance M&A” and go on to note that “he is a strategic thinker, particularly on thorny regulatory matters.” Sources also commend him for his “super client-handling skills.” Perry also has been recognized by PLC Cross-border Insurance and Reinsurance Handbook, The Legal 500 US, and The Best Lawyers in America®. In 2016, he received the International Law Office Client Choice Award for Insurance in Illinois, and received the Award for Insurance & Reinsurance (U.S.) in 2012. The Client Choice Award recognizes the “ability to add real value to clients’ business above and beyond the other players in the market” and winners may only be nominated by corporate counsel.
Perry was a certified public accountant (no longer active), having received a bronze medal for passing the 1983 CPA examination with the third highest score in the State of Illinois.