J.P. Hong

J.P. Hong focuses on corporate, securities and regulatory matters relating to the insurance and financial services industry. He represents sponsors, issuers, underwriters and investors in connection with insurance-linked securities offerings, corporates in connection with their captive insurance and reinsurance programs and financial institutions in connection with stable value transactions.

Prior to going into private practice, J.P. worked at the Seoul offices of two Big 4 accounting firms. He also served in the military as an intelligence analyst from 1997 to 2000.

J.P.’s experience includes:

• Japanese insurer Zenkyoren on the transfer of a combined $3.575 billion of earthquake risk through the Nakama Re series of catastrophe bonds (2014-2023)
• Tokio Marine in its US$200 million Umigame Re Japan typhoon and flood catastrophe bond and in its US$150 million Kizuna Re III Japan earthquake catastrophe bond
• Private equity-backed Gryphon Mutual in the US$50 million Wrigley Re California earthquake catastrophe bond
• The World Bank in the US$150 million IBRD CAR Jamaica 2024 catastrophe bond, the second ever listed on the Hong Kong Stock Exchange, which provides storm risk coverage for the Government of Jamaica
• Ark in the formation of its third-party capital-backed $250 million Outrigger property catastrophe reinsurance sidecar
• Premia Holdings in the formation of its US$265 million legacy sidecar, Elevation Re
• Munich Re in its Eden Re II reinsurance sidecars (2018 – 2020) and Leo Re reinsurance sidecars (2018-2020)
• Validus/AlphaCat Managers in connection with its insurance-linked securities funds and reinsurance sidecar transactions
• A large global airline on its captive insurance program, including a reinsurance transaction for the airline’s captive insurance company
• A leading medical center on its captive insurance program, including a loss portfolio transaction with respect to health professional liability and general liability
• American International Group in the US$400 million Tailwind Re Series 2022-1 named storm and earthquake catastrophe bond and the transfer of a combined $1.325 billion of multiple-peril catastrophe risk through the Compass Re II 2015-1, Tradewynd Re 2014-1 and award-winning Tradewynd Re 2013-2 and Tradewynd Re 2013-1 bonds
• Reinsurance Group of America in its acquisition of Aurora National Life Assurance Co. from Swiss Re
• Apollo Global Management in its $2.6 billion acquisition of publicly traded Aspen Insurance Holdings
• Markel Corporation in its acquisition of substantially all of the assets of CATCo Investment Management Ltd.
• Hartford Financial Services in the sale of its retirement plans business to Massachusetts Mutual Life Insurance
• Cigna in its acquisition of Great American Supplemental Benefits Group