Debevoise & Plimpton LLP is advising Resolution Life US, in connection with a $9.4 billion reinsurance agreement between its insurance subsidiary, Security Life of Denver Insurance Company, and The Lincoln National Life Insurance Company, a subsidiary of Lincoln Financial Group. Under the agreement, Lincoln will cede $9.4 billion in reserves and retain administration of the policies. The transaction is effective as of October 1, 2021 and is not subject to any closing conditions or regulatory approval requirements. For more information, please see the company’s press release.
Resolution Life is a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies. Lincoln Financial Group provides annuities, life, group life, disability and dental insurance, employer-sponsored retirement plans, savings plans, and comprehensive financial planning and advisory services.
The Debevoise team is led by insurance M&A partner Alexander Cochran and associate Kristen Matthews and includes associate John Kwack, and tax partner Daniel Priest and associate Sabrina Hsieh.