Debevoise & Plimpton LLP is advising AXA on its $4.8 billion reinsurance transaction with Global Atlantic Assurance Limited (“GAAL”), a Bermuda-based subsidiary of Global Atlantic Financial Group. Under the agreement, GAAL will provide reinsurance in respect of a closed block of whole life insurance policies of AXA Hong Kong. AXA Hong Kong will continue to service and administer the policies in the reinsured block of business. For more information, please see Global Atlantic’s press release.
The Debevoise team is led by insurance M&A partner Marilyn Lion and includes associates Kristen Matthews and Joanna Faley in New York and partner Edwin Northover and international counsel Jan Buschmann in Hong Kong.