Henry Sopher

Henry Sopher

5/10 Bury St, London, EC3A 5AT

Tel: 020 7256 3983 Fax: 020 7256 3991

HenrySopher@bdcookesolutions.com


26 years experience serving clients in the insurance industry, primarily Lloyd’s and London Market. Twelve years in the US where he was appointed Director of the Insurance Industry Group for Spicer & Oppenheim, the US representative of the international accounting and consulting firm. During this time he served as liaison with UK Insurance clients and developed the firm’s insurance practice in the US with a special emphasis on transactional work and forensic accounting services.


Key Achievements/ Experience


Following the merger of Spicer & Oppenheim with Deloitte & Touche, he joined the New York office, where he continued to be involved in auditing and special services. In 1992 he joined BCS Management Inc., the US consulting subsidiary of a Lloyd’s Managing Agency, where he developed the firm’s special services - inspections and reviews, litigation support, due diligence. In 1996, he co-founded Isis, a joint venture with a large International Reinsurer and a Lloyd’s Managing Agency.

In addition to specific audit experience, he has been involved in a number of special projects:

  • reinsurance inspections
  • due diligence reviews in connection with purchase transactions
  • valuation studies of insurers/reinsurers, agents and brokers
  • loss reserve analyses
  • new product analyses
  • analysis and review of commutations
  • advice on restructuring and run off

Specific projects include:

  • assisting attorneys in analyzing bond losses on fiduciary funds of major international insurance brokers and potential E&O/D&O issues
  • advising liquidators of a international reinsurer
  • advisory work in connection with Lloyd’s run off
  • retained as a consultant in defence of an international accounting firm in connection with their audit of an offshore reinsurer
  • consultant to attorneys in defence of a "Big Six" firm’s audit of a US reinsurer
  • advising on E&O issues in an international reinsurance dispute
  • managed a multi disciplinary project involving analysis of state-wide rate data for auto insurance
  • assisting shareholders of an impaired US insurance company in dealing with regulators on solvency issues
  • advising a state insurance department on the reinsurance recoverables of a large multi line insure
  • involved in the purchase and management of insurers in run off
  • advising liquidator of Bermuda insurer
  • advisory work in relation to Lloyd’s corporate capital issues and reinsurance structures for managing agency and large spread vehicle

Spoken at industry seminars and firm’s in house training courses on loss reserving, reinsurance, insurance company valuations and due diligence. Serves as Chairman of a company building leading edge models for the insurance industry.


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Ann M Duffy

Ann M Duffy

5/10 Bury St, London, EC3A 5AT

Tel: 020 7256 3983 Fax: 020 7256 3991

Annduffy@bdcookesolutions.com


22 years experience serving clients in the insurance industry. Six years experience with the Corporation of Lloyd’s before moving to the US to join the law firm LeBoeuf, Lamb, Greene & MacRae in New York. During her time at LeBoeuf, she was involved in a broad spectrum of insurance legal matters, including drafting reinsurance contracts, mergers & acquisitions, insolvencies and corporate restructuring, regulatory issues, litigations and arbitrations.


Key Achievements/ Experience


In 1989 she joined BCS Management, Inc., the US consulting subsidiary of a Lloyd’s Managing Agency, as Chief Operating Officer & Vice President. In 1996, she co-founded Isis, a joint venture with a large International Reinsurer and a Lloyd’s Managing Agency.


Examples of special projects include:

  • managed runoff of a US P&C Company, and New York Insurance Exchange syndicates
  • due diligence reviews of P&C and Life and Health companies
  • advised Committee of Lloyd’s on complex reinsurance transactions (proposed and developed market rulings for the Committee of Lloyd’s)
  • advised State Insurance Department of Puerto Rico on a major financial reinsurance transaction participated in investigations of suspected reinsurance frauds (e.g. major investigations at Lloyd’s in mid-80s relating to questionable insurance transactions)
  • advised on and made recommendations to Lloyd’s in connection with Lloyd’s agencies’ structuring and acquisitions (Lloyd’s equivalent of Form A filings)
  • retained as a reinsurance consultant in defence of an international accounting firm in connection with its audit of an offshore reinsurer
  • consultant to attorneys in defence of “Big Six” firm’s audit of US insurer
  • consultant in reinsurance contract disputes
  • represented ceding insurers in connection with the Mission insolvency and initial rehabilitation plan
  • reviewed major reinsurance pools
  • assisted shareholders of an impaired company in exploring solvency issues with insurance regulators managed numerous compliance reviews of reinsurance contracts
  • advised on and negotiated commutation agreements involved in the purchase and management of insurers in run off

Spoken at industry seminars on reinsurance and runoff management; developed and presented training programs for Lloyd’s agents on regulatory issues.


Qualifications

  • Llb (Hons), University of Manchester
  • Called to the Bar of England & Wales
  • Passed New York Bar examination; not admitted

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