Debevoise & Plimpton LLP is advising Meiji Yasuda Life Insurance Company in its $2.28 billion acquisition of Legal and General Group’s (“L&G”) U.S. insurance businesses, Legal & General America, and strategic partnership with L&G. Following the closing of the transaction, which is subject to receipt of regulatory approvals, Meiji Yasuda will acquire L&G’s U.S. protection business and a 20% economic interest in L&G’s U.S. pension risk transfer (“PRT”) business, with L&G retaining 80% of existing and new PRT business through reinsurance arrangements to be entered into between L&G and Meiji Yasuda. For more information, please see the company’s press release.
Meiji Yasuda is a Japanese mutual life insurance company. L&G is a British multinational financial services and asset management company.
The Debevoise team is led by insurance M&A partners Alexander Cochran and Kristen Matthews and associate Alexandra Grady and includes associates Kaéla Edwards and Nicole Gany and law clerk Benjamin Oh, employee benefits and executive compensation partner Simone Hicks and associate Ally Farley, tax partner Lena Smith and associates Corey Mavleos and Robert Nelson-Sullivan, intellectual property partner Henry Lebowitz and associate Katelyn Bryant, and national security partner Rick Sofield and associate Jordan Corrente Beck.
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.