Debevoise & Plimpton LLP is advising Jackson National Life Insurance Company (Jackson) on its agreements to reinsure 100% of the Group Payout Annuity business of John Hancock Life Insurance Company and its New York affiliate.

In total, the transaction involves Jackson indemnity reinsuring approximately $5.5 billion of statutory reserves, representing an increase in Jackson’s general account liabilities of approximately 10%.

The Debevoise team is led by partners Nicholas Potter and Thomas M. Kelly and includes partner Gary M. Friedman; counsel Serhat T. Krause; and associates Rebecca J. Sayles, Arianna E.B. Thompson, P. Sebastian Ruiz, Samuel D. Krawiecz and Daniel Priest.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.