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Clifford Chance

Alice Kane

Alice Kane

Counsel

Counsel
Alice Kane

Alice Kane regularly advises property and casualty, life, and health insurance clients on a wide range of regulatory, governance, and transactional matters. She also has significant experience with complex M&A transactions and in asset management.

Prior to Alice's time at Clifford Chance, she was a partner at Duane Morris LLP and before that served as the Group General Counsel at two Fortune 100 insurers, Zurich Insurance Group and New York Life Insurance Company.

Asset Management

  • Settled SEC market timing investigation
  • Built a $250M women and minority owned institutional asset management business
  • Implemented best-in-class selection and monitoring process compliance, investment process and performance review
  • Obtained SEC, Investment Management Division approval for a $3B substitution of branded non-propriety mutual funds to sub-advised funds, based on an independent selection and monitoring process

Property and Casualty

  • Led the bid-rigging and finite reinsurance regulatory investigations, class actions and settlements - the three state - Spitzer $153M regulatory settlement and the $171M multistate AG, DOI and class action settlement led by Texas, California, Illinois and Pennsylvania
  • Served as catalyst of the New York Insurance Department industry meeting, which led to the settlement of the World Trade Center terrorist attacks coverage litigation
  • Settled the Converium class action litigation relating to adequacy of reserves post-IPO
  • Acquired AIG direct auto insurance company for the Farmers' Insurance Exchanges, the first asset sale after the financial crisis. Obtained nationwide insurance department regulatory approval on an expedited basis

Life and Health Insurance

  • As General Counsel of New York Life, Member of Executive Management Committee and Secretary of the Board, Alice Kane structured and led the life insurance industry-wide settlements for vanishing premium with state Attorneys General and departments of insurance investigations and class action
  • Led the international legal and accounting team responding to a pre-FSA regulatory action that closed New York Life's U.K. subsidary; created a compliance and review structure for tied agenets in a matter of weeks, resulting in the company's reopneing with no fine or further regulatory action
  • Led the IPO of Express Scripts when spun off from New York Life's HMO business

Contact details

Career and qualifications

  • Manhattanville College (B.A. in Political Science and Government) 1969
  • New York University School of Law (J.D) 1972
  • Admitted as an Attorney-at-law in New York 1973
  • General Counsel & Executive Vice President, New York Life Insurance Company 1987
  • Interim Global General Counsel & General Counsel, Americas at Zurich Insurance Company Ltd 2005

Professional bodies

  • Tourette Association of America – board member (1997 – present)

Awards and citations

  • Ms. Kane has been recognized as a Thomson Reuters SuperLawyer
  • Listed as a New York Metro Area Super Lawyer