Benjamin Kralstein is a Partner in Simpson Thacher’s Mergers and Acquisitions Practice, where he is a member of the Insurance Transactional and Regulatory team. Based in New York, Ben’s practice focuses on advising U.S. and non-U.S. insurers, reinsurers, insurance markets, agents, managing general agents, reinsurance intermediaries, investors and financial institutions in a broad range of transactional and regulatory matters in the insurance and reinsurance industry. Ben has extensive experience advising clients on domestic and cross-border reinsurance transactions and related collateral arrangements, sidecar transactions, PRT transactions, mergers and acquisitions, structured finance solutions, insurance securitizations and capital markets transactions.
Over the course of his nearly 15-year career, Ben has represented some of the largest clients in the insurance industry, including Canada Life, Cigna, Fidelity & Guaranty, Global Atlantic, Munich Re, Nationwide, Pacific Life, Prosperity Life, Somerset Re and SCOR, and has been involved in numerous landmark transactions.
Notable experience prior to joining Simpson Thacher includes advising:
- A leading Bermuda reinsurance company and its affiliated investment manager in the formation and capitalization of a long duration, on-demand capital sidecar vehicle
- A lead investor in a new life and annuity sidecar, Ivy Re III, with Global Atlantic as sponsor
- Somerset Reinsurance on its agreement with Prudential Financial, Inc. to reinsure approximately $12.5 billion of reserves backing Prudential’s guaranteed universal life policies issued by Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey
- U.S. ceding company in setting up a pool of YRT reinsurance to cover the mortality risk on a block of life business that had an NAAR valued at over $40 billion; also assisted client in setting up a pool of flow YRT reinsurance to cover the mortality risk on new life business
- Somerset Reinsurance on its definitive agreement to sell a controlling interest to Aquarian Holdings, as well as a commitment for further growth capital
- FedEx Corp. in its purchase of a group annuity contract from Metropolitan Life Insurance Company for approximately $6 billion, affecting approximately 41,000 retirees and beneficiaries
Ben’s work has put him in the spotlight by Chambers USA – most recently ranked as “Band 5” attorney (2026) and previously ranked as an “Up and Coming” attorney (2024 – 2025) and an “Associate to Watch” (2021 – 2023). Clients have praised his “depth of technical knowledge in the insurance and reinsurance landscape” and that he is “dedicated and has such expansive knowledge” of the industry.
Ben also has a broad pro bono practice in which he advises pro bono clients on a variety of matters, including U.S. asylum applications, uncontested divorce cases and corporate governance and formation matters.
Ben received his J.D., cum laude, from St. John’s University School of Law in 2013. While attending St. John’s University School of Law, he was an Associate Managing Editor for the St. John’s Law Review and interned at the Securities and Exchange Commission’s Division of Enforcement. He received his B.S. from Indiana University in 2010. He is admitted to practice in New York and New Jersey.