E. Drew Dutton is a corporate insurance partner who regularly represents financial institutions, private equity sponsors, sovereign wealth funds and multinational corporations in a broad range of cross-border transactions. Mr. Dutton has extensive experience in the insurance and financial services areas and played a leading role in several of the most significant recent Asian insurance M&A transactions, including AIG’s reorganization of its Asian division during the 2008 financial crisis, the IPO of AIA Group Limited (the largest insurance IPO of all time), the acquisition of ING Malaysia by AIA Malaysia and the landmark bancassurance partnership between AIA and Citibank in 11 countries across Asia.
Mr. Dutton was named an All-Star attorney for Banking and Finance by The Asian Lawyer in 2014, which declared: “Few lawyers in the region can boast the close client relationship that Dutton has with certain heavyweight financial institutions.”
Chambers Asia-Pacific 2018 ranks Mr. Dutton as a leading lawyer for Insurance: Non-contentious, where clients describe him as “valuable, flexible,” and “multi-skilled.” He is praised for his ability to “work very well in a multinational insurance context as well as in China with Chinese entities.”
The Legal 500 Asia Pacific recommends Mr. Dutton for M&A and Insurance, distinguishing him as a “senior figure” in the market who is “easy to get on with, responsive and tactically astute.”
Mr. Dutton has been recognized in Chambers Global for his work in the Insurance, Capital Markets: Equity, and Private Equity practice areas and is praised for his level headedness, excellent problem-solving skills, intelligence and commerciality.
He is a noted practitioner in The Legal 500 US 2018 for Insurance: Non-Contentious and is also recognized as a “Leading Lawyer” for M&A and Debt Capital Markets in Asia by IFLR 1000 2017.
Mr. Dutton joined Debevoise in New York in 1999 and became a partner in 2007. He is admitted to practise as an attorney in New York, an avocat in Paris and a solicitor in Hong Kong and England.
Mr. Dutton holds an honors A.B. in East Asian Studies (China) from Harvard College and law degrees from McGill University and the Université de Paris XI.
- Hamilton Insurance Group in its acquisition of Pembroke Managing Agency and Ironshore Europe DAC from Liberty Mutual.
- Japan Post Holdings in its purchase of a strategic stake of approximately 7% of outstanding common shares of Aflac.
- Prosperity Life Insurance in its sale to an investor group.
- Prudential Financial in its minority stake investment in Peak Reinsurance.
- AIA Group in its strategic bancassurance partnership with Bangkok Bank to distribute its insurance products in Thailand.
- Toyota Motor Corporation in its $500 million investment in Uber to jointly develop Uber’s self-driving business.
- Johnson & Johnson in its sale of Nizoral’s EMEA rights to STADA Arzeimittel AG; LATAM rights to Kramer Laboratories; and APAC rights to Alliance Pharmaceuticals Limited.
- Prudential Financial in its life insurance joint venture with CT Corp in Indonesia.
The CF Corporation and The Blackstone Group in the $1.835 billion acquisition of Fidelity & Guaranty Life.
- Samsung Fire & Marine Insurance Company in a loss portfolio transfer of legacy U.S. insurance liabilities to Alea North America Insurance, a wholly owned subsidiary of Bermuda-based run-off firm Catalina Holdings.
- American International Group in its sale of its Japan life insurance business to FWD.
- American International Group in the sale of a $1.2 billion stake in PICC by means of a block trade in Hong Kong.
- AIA Group in the establishment of its $5 billion Rule 144A Global Medium Term Note Programme and subsequent offerings.
- Capital International in its approximately $200 million acquisition of a minority stake in Mankind Pharma, an Indian pharmaceutical company.
- American International Group in the sale of a $750 million stake in PICC Property and Casualty by means of a block trade in Hong Kong.
- Russia China Investment Fund in its investment in TutorGroup.
- Clearwater Capital Partners in the establishment of an Indian credit platform, and the collective co-investment by Clearwater Capital Partners and two other large global investors.
- AIA Insurance Lanka, a subsidiary of Hong Kong-based life insurer AIA Group, in the sale of its stake in AIA General Insurance Lanka to Janakashi Insurance.
- Standard Chartered in a 15-year distribution partnership providing Manulife the exclusive right to offer its Mandatory Provident Fund (MPF) product to Standard Chartered’s customers in Hong Kong, and the acquisition by Manulife of Standard Chartered’s existing MPF and Occupational Retirement Schemes Ordinance businesses.
- Hanwha SolarOne in its $2 billion acquisition of Hanwha Q CELLS.
- AXA in the sale of its mandatory pension business in Hong Kong to the Principal Financial Group.
- AIA Group in its landmark exclusive bancassurance partnership with Citibank to distribute its insurance products to 11 countries in the Asia Pacific region. This was the largest ever bancassurance deal in Asia.
- AIA Group in its $1.7 billion acquisition of ING’s insurance businesses.
- FLAG Capital Management in its acquisition of Squadron Capital, a Hong Kong-based private equity investment firm.
- AIA Group in the $109 million acquisition of Sri Lanka’s leading insurance company, Aviva NDB Insurance, from Aviva and Sri Lanka’s National Development Bank.
- American International Group in its proposed $2.2 billion sale of Nan Shan Life Insurance Company, Ltd., the Taiwan life insurance company, to Primus Financial Holdings Limited and China Strategic Holdings Limited. This transaction was named “Deal of the Year” by Asian Counsel.
- American International Group (AIG) and American International Assurance Company in AIG’s agreement with the Federal Reserve Bank of New York to reduce the debt AIG owes the FRBNY by $25 billion and position AIA and American Life Insurance Company for initial public offerings.
- American International Group in the sale of its Taiwan consumer and SME businesses to Nan Shan Life Insurance in Taiwan.
- Ingenico in its strategic partnership with Fosun International and acquisition by Fosun of a 20% minority stake in Ingenico’s Chinese activities.
- AIA Group in its offering of $750 million of 3.20% senior notes due 2025, listed on the Hong Kong Stock Exchange.
- American International Group in its agency distribution joint venture with PICC Life Insurance Co. in the PRC.
- AIA Group in an exclusive 20-year bancassurance agreement with National Development Bank in Sri Lanka.
- Prudential Financial in its strategic cooperation with Fosun Group, China’s leading private investment company, to establish a $600 million private equity fund and a related joint venture in the PRC.
- American International Group and AIA Group in the proposed sale of AIA Group to Prudential for $35.5 billion.
- American International Group in its $2.16 billion sale of its 97% interest in Nan Shan Life Insurance Company to Ruen Chen Investment Holding Co. and Pou Chen Corporation.
- Université Paris XI Paris-Sud, 1997, D.E.S.S.
- McGill University, Faculty of Law, 1996, LL.B.
- Harvard University, 1992, A.B.
- New York
- Hong Kong
- Solicitor, England & Wales
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