David Heales is a partner in the Corporate & Financial Services Department and a member of the firm’s Insurance Transactional and Regulatory Group. David focuses his practice on corporate and commercial transactions in the insurance industry and general insurance regulatory matters. He regularly acts in the acquisition and disposition of insurance entities and blocks of insurance business, including through reinsurance. David also has extensive experience assisting insurtech companies, traditional carriers and non-insurance entities in complex program management, managing general agent and distribution arrangements. David also advises clients on broad range of insurance regulatory matters, such as redomestications, licensing matters involving insurance companies and producers, holding company act filings, and investment law considerations.
Since 2019, David has been recognized as a “Rising Star” in non-contentious insurance matters by The Legal 500 US.
David has advised on the following significant matters*:
Insurance Mergers and Acquisitions
- Nestlé in its sale of Gerber Life Insurance Company to Western & Southern for $1.55 billion.
- The Hartford in its acquisition of the Navigators Group for $2.1 billion.
- The Hartford in its acquisition of the U.S. group life and disability business of Aetna for $1.45 billion.
- A Bermuda-based insurance group in its $3.4 billion acquisition of a mortgage insurance business.
- Various acquisitions and dispositions of insurance producers, third-party administrators and managing general agents, including:
- CNO in its acquisition of DirectPath, LLC.
- MetLife in its acquisition of PetFirst Healthcare, LLC.
- CNO in its acquisition of Web Benefit Design Corporation.
Insurance Joint Ventures, Insurtech and Commercial Insurance Arrangements
- General Motors in the launch of OnStar Insurance Services, an insurance platform leveraging the technology and telematics data of, its subsidiary, OnStar, including in the negotiating of the related co-development and distribution arrangements with Homesite Group.
- Assicurazioni Generali in relation to a major joint venture partnership with Nationwide to promote, distribute and administer insurance solutions for multi-national property and casualty exposures on behalf of both organizations.
- Advising numerous insurtech ventures and sharing economy companies, across all business lines, with respect to an extensive range program management and product distribution matters.
- Advising various strategic investors and insurance carriers in the establishment of fronting insurance platforms, including through the formation and/or acquisition of various of portfolio carriers.
- The Doctors Company in various commercial insurance distribution arrangements relating to its acquisition of the Hospital Insurance Company and its third-party administrator, FOJP Service Corporation.
- Insurance carriers, intermediaries and reinsurers on regulatory compliance, governance, licensing, financial and market conduct examination, Insurance Holding Company Act, privacy and data securities laws and current and prospective digital distribution matters.
* David advised on some of these matters prior to joining Willkie.
Prior to joining Willkie in 2021, David was an associate at Mayer Brown.
David was previously a secondee to iptiQ Americas, part of Swiss Re.