Sidley Advises Global Atlantic in US$19.2 Billion Reinsurance Transaction With MetLife

Sidley is representing Global Atlantic, a subsidiary of KKR, in a US$19.2 billion reinsurance agreement with subsidiaries of publicly traded MetLife. The transaction will reinsure a seasoned and diversified block of MetLife’s U.S. retail annuity and life insurance business, comprised of US$5.2 billion of fixed annuities and US$14 billion of life insurance. The deal brings the total value of assets reinsured by Global Atlantic to more than US$110 billion since the company’s inception.

This complex transaction includes a custom solution tailored to the unique financial and risk transfer needs of the parties, which Sidley helped structure, and represents the firm’s ability to guide insurance industry clients in their most high-profile transactions.

The Sidley team is led by Jon Kelly (Insurance), and includes Chad Vance, Andrew Holland, Jennifer Norris, John Grothaus, Alexander Koster, Jacob Grossman, James Gilmartin, Rana Odeh, Cole Hunter, Jordyn Weiss (Insurance), Lee Christie, Nathan Enfield (Tax), Patricia Murphy, R.J. Carlson, Rachel Schatz, Kaitlyn Denny, Emily Hughes (Global Finance), Erin Felchner, Jessica Royel (Real Estate), Dan Spies, Allison Hocevar (Investment Funds), and Steve McInerney (Privacy and Cybersecurity).