Sidley Advises Athene in Reinsurance and Equity Investment Deal With Jackson National Life

Sidley is representing publicly traded Bermuda-based Athene Holding Ltd. in the reinsurance of a US$27 billion in-force block of fixed deferred and fixed indexed annuities from Jackson National Life Insurance Company, a subsidiary of publicly traded UK-based Prudential plc, and a US$500 million indirect equity investment in Jackson.

This complex deal is one of the largest ever annuity reinsurance transactions, a market of increasing interest to private equity and other alternative capital investors in the insurance industry, and exemplifies Sidley’s longstanding leadership in this area.

Perry Shwachman, head of Sidley’s global Insurance group, and Jeremy Watson, a partner in the global insurance group, led the Sidley deal team drawn from across the firm’s offices in the U.S., UK and Asia.