David Grosgold

Debevoise & Plimpton LLP 

$ $$$

New York 10022 NY US

David Grosgold is a partner in the firm’s Financial Institutions and Insurance Practice Groups. His practice focuses on domestic and cross-border corporate transactions in the financial services and insurance industries, including mergers and acquisitions, joint ventures, reinsurance and bancassurance transactions in the U.S., Latin America and Asia. Mr. Grosgold is recognized as an Up and Coming attorney by Chambers USA (2018), where one client reports, “He seems to forget nothing and is a real pleasure to work with,” while another praises his “strong technical knowledge and good commercial business judgment.”

He is named a Next Generation Lawyer for Insurance: Non-Contentious by The Legal 500 US (2018) and is also noted in The Legal 500 Latin America (2018) for his expertise in Corporate and M&A. Additionally, Mr. Grosgold was named a “Rising Star” in 2015 by the New York Law Journal.

Mr. Grosgold received his B.A. from the Hebrew University of Jerusalem in 2001 and his J.D. from the Benjamin N. Cardozo School of Law summa cum laude in 2005, where he was a member of the Order of the Coif and served as submissions editor on the Benjamin N. Cardozo Law Review. Mr. Grosgold is a member of the New York Bar and is fluent in Spanish and Hebrew.

Experience:

  • Travelers in the sale to Porto Seguro of renewal rights in certain lines of property and casualty insurance business in Brazil.
  • Chubb in its long-term distribution agreement with Banco de Chile, the largest bank based in Chile.
  • Chubb Seguros México, an affiliate of Chubb, in a long-term distribution agreement with Citibanamex, a subsidiary of Citigroup, whereby Chubb will offer a broad range of non-life insurance products to Citibanamex’s clients in Mexico.
  • AXA in the acquisition of Bermuda-based XL/Catlin Group for $15.3 billion in connection with insurance M&A and regulatory matters.
  • American International Group in its $5.56 billion acquisition of Validus Group, a Bermuda-based, NYSE-listed, (re)insurance company.
  • Bedrock Insurance in its proposed acquisition of Ashmere Insurance, a workers’ compensation specialty insurance company.
  • Resolution Life in its sale of Lincoln Benefit Life to Global Bankers Insurance Group.
    Kuvare in its acquisition of United Life Insurance Company.
  • Prudential Financial in the acquisition by its subsidiary, Prudential do Brasil Seguros de Vida of the group life insurance operations of Itaú Unibanco in Brazil.
  • Anbang Insurance Group in its proposed $1.6 billion acquisition, later terminated, of Fidelity & Guaranty Life.
  • Exor as insurance M&A counsel in its contested $6.9 billion acquisition of PartnerRe, a Bermuda-based reinsurance company.
  • AXA in its agreement with SulAmérica to acquire 100% of its Large Industrial and Commercial risks insurance business in Brazil.
  • Prudential Financial in its acquisition of a 40% interest in Administradora de Fondos de Pensiones Habitat, a leading provider of retirement services in Chile, for a total purchase price of approximately $550 million.
  • Global Atlantic in the sale of its Bermuda and Lloyd’s insurance and reinsurance businesses to BTG Banco Pactual.
  • Diamond Castle in the restructuring of, and secondary sale of interests in, Diamond Castle Partners IV. In the transaction, investment funds managed by Goldman Sachs Asset Management, Intermediate Capital Group and other syndicate investors committed capital to a newly formed Diamond Castle-managed fund that acquired most of the portfolio of Fund IV, and Fund IV limited partners elected either to participate in the longer term potential of the portfolio by rolling their interests into the new fund or to effectively sell their interests to the buying syndicate.
  • AXA in its acquisition of 51% of Mercantil Colpatria’s insurance operations in Colombia for COP 672 billion.
  • Resolution Life in its formation and initial capitalization, related to its $587 million acquisition of Lincoln Benefit Life Company from Allstate Life Insurance Company, which included reserve financing, a reinsurance facility and bank debt.
  • Goldman Sachs in the formation, separation and disposition of Global Atlantic Financial Group.
  • New York Life Insurance in the sale of New York Life Insurance Taiwan Corporation, its Taiwan life insurance subsidiary, to Yuanta Financial Holding.
  • Prudential Financial in its acquisition of The Hartford’s Individual Life Insurance business.
  • New York Life Insurance Company in the sale of its Mexico surety subsidiary, Fianzas Monterrey, to ACE Group, for about $285 million.
  • Prudential Financial in its sale of Afore XXI, a Mexican private pension manager, to Banorte.
  • New York Life Insurance Company in the sale of New York Life Insurance Taiwan Corporation, its Taiwan life insurance subsidiary, to Taishin Financial Holding Co.
  • Prudential Financial in the sale of its real estate brokerage and relocation business to Brookfield Residential Property Services.
  • Harbinger Group in its $350 million acquisition of Old Mutual U.S. Life Holdings.
  • Prudential Financial in its $4.8 billion acquisition of Japan-based AIG Star Life Insurance and AIG Edison Life Insurance from American International Group.
  • BM&F Bovespa in its $620 million investment in and joint venture with CME Group to form Global Preferred Strategic Partners.
  • Syncora Holdings and its subsidiary, Syncora Guarantee, in the subsidiary’s comprehensive $6 billion restructuring relating to its transactions with various financial institutions that were counterparties to its credit default swaps and holders of residential mortgage-backed securities that it guaranteed.

Education:

  • Yeshiva University, Benjamin N. Cardozo School of Law, 2005, J.D.
  • Hebrew University of Jerusalem, 2001, B.A.

Bar Admissions:

  • New York

Cost

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New York 10022 NY US
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