Global law firm Norton Rose Fulbright has expanded its Insurance Transactional and Regulatory team by appointing experienced insurance-linked securities (ILS) figure Bhavna Agnihotri, as senior counsel within its New York office.
Her practice mainly concentrates on ILS, structured reinsurance transactions, insurance mergers and acquisitions, and regulatory issues.
Most recently, Agnihotri served as Executive Deputy Superintendent of Insurance for the New York State Department of Financial Services (DFS), where she led the organisation’s Insurance Division, and regulated more than 2,000 property and casualty, life and health insurance companies and pharmacy benefit managers.
During her time at DFS, Agnihotri worked on a variety of different policy initiatives, including formulation of regulations and industry guidance. She also supervised a number of critical insurance matters such as financial solvency examinations, market conduct examinations and insurance company acquisitions.
However, most relevant to our readers is Agnihotri’s extensive experience within the ILS market, of which she gained during her previous stints working as a corporate lawyer at both global insurer AIG, and reinsurer Swiss Re.
During her two-year stint at AIG, Agnihotri helped negotiate and draft reinsurance agreements, adverse development covers, trust agreements and templates, industry loss warranty’s (ILWs) and ancillary agreements.
Before AIG, Agnihotri spent just under five years at Swiss Re, where she handled a variety of bespoke structured reinsurance and ILS transactions. This included reinsurance sidecars, hedge funds, catastrophe bonds, risk swaps, collateralized reinsurance and captive reinsurance programs.
Prior to joining Swiss Re, Agnihotri also spent several years at law firm Willkie Farr & Gallagher LLP, where she advised various insurers and private equity firms on transactions similar to those she handled at both AIG and Swiss Re.
Kevin Fischer, Norton Rose Fulbright’s US Head of Insurance Transactions, commented: “Bhavna’s arrival significantly enhances our group’s capabilities, particularly in the reinsurance space. Her impressive experience managing complex P&C and life reinsurance transactions, both domestic and cross-border, broadens our ability to deliver sophisticated, market-leading solutions and reinforces the breadth of our insurance offering.”
James Bateson, Norton Rose Fulbright’s Global Head of Financial Institutions, said: “As global markets face increasing regulatory oversight, companies must navigate challenging compliance landscapes with agility and precision. Bhavna’s proficiency leading complex, cross-border transactions, and significant regulatory experience, strengthens our global team and further elevates our ability to provide top-tier service to clients.”
