Robert A. Romano
Partner
Norton Rose Fulbright US LLP
Related services and key industries
Biography
Robert Romano has extensive experience with insurance regulatory and corporate matters. He has assisted clients in numerous M&A, corporate finance and restructuring transactions, with special attention to methods of entry into new and specialty markets for domestic and international insurers. Robert spent two years in the London office of his prior law firm assisting the Corporation of Lloyd's and clients in the Lloyd's and company markets. He frequently attends meetings of the National Association of Insurance Commissioners and has recently contributed to rule-making deliberations on reinsurance reform, insurance business transfers and corporate divisions.
Robert has also been heavily involved with transnational matters involving Brazil. He assists clients entering Brazil and Brazilians operating abroad. This work includes cross-border litigation (including criminal investigations in Brazil and the USA) and infrastructure investments in power, energy and waste water projects. Robert worked for two years in a São Paulo investment bank and headed the São Paulo office of his prior law firm.
Professional experience
Collapse all- JD, New York University School of Law, 1978
- BA, cum laude, Harvard College, 1973
- New York State Bar
Insurance Corporate Regulatory
- Commentary submitted to NAIC working groups on proposed regulation of Insurance Business Transfers (IBTs) and insurance corporate divisions
- Development of novel regulatory structures — to facilitate reinsurance by non-US insurers throughout the United States, resulting in more than $4 billion invested in US collateral facilities
- Opining to UK courts as to the US aspects of a number of UK "Part VII Transfers" of assets and liabilities among UK companies with obligations in the US market
- Representation of a major US insurance conglomerate in the largest restructuring transaction at the time, involving capital distributions and in-kind transfers, de-poolings, assumption reinsurance, bulk transfers and multiple change of control issues
- Advising a major European industrial conglomerate in multiple restructuring transactions of its financial enterprises in North America
- Drafting of insurance laws and regulations in the United States and abroad for governments and insurer interests, including creation of a novel tax and insurance regulatory regime for the Commonwealth of Puerto Rico
- Representation of a European financial institution in developing OFAC (Office of Foreign Asset Control) compliance standards for its US operations
Brazil
- Representing a leading Brazilian company in a US Department of Justice investigation
- Representation of a leading US enterprise in negotiations with regulators and criminal authorities in the US and Brazil over the resolution of potential penalties exceeding $300 million
- Representation of a major Brazilian group in prosecuting claims against US defendants for bribery in Brazil
- Representation of a leading Brazilian financial conglomerate in the sale of its joint venture interest in a Brazilian insurer to a major US group
- Advising leading a European reinsurer on its privatization bid to purchase IRB Resseguros S.A., the Brazilian government-owned reinsurance monopoly
- Representation of a major Brazilian construction company in a lender liability action heard in New York courts arising out of Iraqi contract defaults
- Development of Brazil-US cross-border investment opportunities in the oil and gas (LNG) industries for Brazil, Chinese, Saudi and US business interests
Insights
Fall 2022 update on US IBTs and Divisions
Publication | October 04, 2022