Debevoise Advises Prudential in Its Sale of Prudential Life Insurance of Korea to KB Financial Group for $1.9 Billion

10 April 2020

Debevoise & Plimpton LLP is advising Prudential Financial, Inc. (NYSE: PRU) in its sale of The Prudential Life Insurance of Korea, Ltd. to KB Financial Group for $1.9 billion. For more information, see the company’s press release.

Prudential, a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of December 31, 2019, has operations in the United States, Asia, Europe, and Latin America. Prudential of Korea is a leading provider of life insurance and other protection products through its signature life planner business and growing general agency channel. KB is Korea’s leading financial services provider offering a broad range of financial products and services.

The Debevoise team is led by insurance M&A partners John Vasily, David Grosgold and Edwin Northover and includes insurance M&A associates Jan Buschmann, Dexter Hoffman, Andrew Jamieson and Maggie Zellner McInnis, M&A partner David Innes and corporate associates Edoardo Troina and Tiffany Wu, tax partner Gary Friedman and tax associates Samuel Duncan and Ben Lee Friedman, benefits partner Franklin Mitchell and intellectual property counsel Judith Church and intellectual property associate Tigist Kassahun.