A Drinker Biddle team led by New York partner Michael Halsband acted as legal advisers to New Paradigm Group, LLC, in connection with its recent private capital raise from Transatlantic Reinsurance Company, a member company of Transatlantic Holdings Inc. The team included partners Bryan Bloom, Thomas Gray, Ira Kalina and James Fischer and associates Maria Monte and Steven Schwartz.
New Paradigm utilizes its proprietary technology and parametric triggers to provide risk transfer solutions for insurance policyholders, insurance companies and reinsurers. The company currently serves protection buyers in three countries, seven U.S. states and one U.S. territory. New Paradigm will use the proceeds to expand its proprietary parametric data platform and enhance its in-house structuring, marketing and support teams.
Read coverage of the matter in Reinsurance (login required).