A number of insurance attorneys from N.Y.-headquartered elite law firm Dewey & LeBoeuf have left the company this year, as the firm, well-known for its insurance work, grapples with high debt and partner compensation issues.
This week, law firm DLA Piper announced that it has hired veteran insurance regulation lawyer Peter Rice from Dewey & LeBoeuf, where he was a senior counsel in the insurance regulatory department.
Rice, based in Boston, focuses his practice on a range of insurance regulatory matters, including transactions, licensing, corporate reorganizations, and market conduct proceedings. He brings to DLA Piper extensive experience in management buyouts, initial public offerings, dissolutions, and Form A filings, among other matters. He also has extensive legislative and lobbying experience and has helped shape insurance and health insurance laws around the United States.
In addition, Rice is particularly experienced in assisting clients with matters related to the often complex Massachusetts insurance markets. Earlier in his career, Rice served as first deputy commissioner of the Massachusetts Division of Insurance.
DLA Piper has been strengthening its insurance and reinsurance sector practice. Rice’s arrival follows the February 2012 addition of partner Bill Marcoux, who now leads DLA Piper’s global insurance transactions and regulation group. Also, DLA Piper hired partner Prakash Paran and counsel Roger Loo and Melanie James to for its London office last month. All joined the firm from Dewey & LeBoeuf.
Back in March, six Dewey & LeBoeuf attorneys specializing in insurance regulatory, tax and transactions left to join Sutherland Asbill & Brennan, a New York-headquartered law firm.
Dewey & LeBoeuf has lost more than 90 of its 300 partners since the beginning of the year. Insurance has traditionally been a strong area of practice for Dewey & LeBoeuf. But more than a dozen partners from the insurance practice group have left the firm so far this year, according to media reports.