Matthew B. Stern

Matthew was the moderator of a panel at the 2013 SIFMA ILS Conference in New York, titled “Evolving Business Model of ILS Asset Management.”

Matthew has authored several articles on catastrophe bonds, including:

• "Private Cat Bonds: Risk for Issuers," published in Trading Risk Magazine in April 2015.
• "ILS Should Escape Dodd-Frank Due Diligence Rules," published in Trading Risk Magazine in October 2014.
• "The Long Arm of the Law (May be Getting Shorter)," published in Trading Risk Magazine in July 2012.
• "Structuring Catastrophe Bonds: A Functionalist Perspective," published as a chapter in Global Perspectives on Insurance Today (December 2010); co-authored with John Schwolsky. 

Matthew's representative experience* includes:

Mergers & Acquisitions

• Warburg Pincus in connection with its launch of Prismic Life Reinsurance, Ltd. with Prudential Financial, Inc.
• CNO Financial Group in the reinsurance of a substantial portion of its Long Term Care book to Wilton Re.
• Transamerica Retirement Solutions LLC in its acquisition of the U.S. defined benefit administration business of Mercer HR Services.
• Genworth Life and Annuity Company in its sale, via reinsurance, of a block of life insurance policies to Protective Life.
• New York Life in its acquisition, via reinsurance, of 60% of John Hancock’s closed block of approximately 1.3 million in-force participating life insurance policies.
• ACE Limited in its purchase of the Fireman’s fund high net worth personal lines business from Allianz.
• Tower Group in its merger with Canopius Bermuda.
• AEGON in its sale of Transamerica Re to SCOR SE.
• An investor group, including Evercore Partners, Fidelity National Financial, Inc., Thomas H. Lee Partners and United Healthcare, in its sale of Sedgwick Claims Management, Inc.

Insurance Securitizations
Matthew has extensive experience advising on insurance-linked securitizations and related structures, most recently including:

• Starwind Specialty Insurance Services, LLC, a subsidiary of TIH, on its launch of collateralized reinsurer Fractal Re Ltd. 
• Arch, Essent, NMI and Radian in multiple on-the-run and seasoned mortgage insurance-linked note securitizations, including the first such transaction by United Guaranty in 2015.
• Issuer’s and underwriters’ counsel in over 100 Rule 144A and private placement P&C, extreme mortality and health catastrophe bond offerings.
• PIMCO in connection with the formation of its ILS fund.
• RenRe in connection with the formation of its rated vehicle Vermeer Re.
• Credit Suisse in connection with multiple operational risk cat bonds.
• Arch, AXIS, Liberty Mutual, Markel, PartnerRe and RenRe in connection with multiple P&C sidecar facilities.

Corporate Finance

• Hamilton Insurance Group, Ltd. on its initial public offering in November 2023.
• Essent Group in its $440 million public offering of 13.8 million common shares.
• Northwestern Mutual in its offering of $1.75 billion of surplus notes in 2010 and $1.2 billion of surplus notes in 2017.
• Sirius Group in connection with its $400 million senior notes in 2016 and its SEK 2.75 billion subordinated notes in 2017.
• Underwriters in connection the initial public offering of Conifer Insurance.
• Underwriters in connection with the initial public offering of James River Group.
• Essent Group in connection with its $270 million common stock offering.
• Underwriters in connection with the $275 million initial public offering of Third Point Re.
• Tower Group in its $250 million private placement of equity securities.
• Mutual of Omaha in its $300 million offering of surplus notes.
• The Northwestern Mutual Life Insurance Company in its $1.75 billion offering of surplus notes.
• Underwriters in AIG’s disposition of $1.1 billion of common shares of Transatlantic Holdings, Inc.
• Underwriters in connection with the $250 million public offering of senior notes by Willis North America Inc.
• The Allstate Corporation in its $1 billion public offering of senior notes.