Sidley Advises Lincoln Financial in US$28 Billion Reinsurance Transaction With Fortitude Re

Sidley is representing publicly traded Lincoln Financial in a landmark US$28 billion reinsurance transaction with Fortitude Re, Bermuda’s largest multi-line reinsurer.

The market-shaping deal is one of the largest reinsurance transactions in recent years, and ranks among the largest ever conducted among unaffiliated parties in the U.S. life and annuity sector, according to S&P Global Market Intelligence.

The reinsured block consists of in-force universal life with secondary guarantee (ULSG), MoneyGuard®, and fixed annuity products.

The Sidley team is led by Perry Shwachman, Amanda Todd, and Jeremy Carroll (all Insurance), and includes Christa Nipper, Rana Odeh (Insurance), Peter Edgerton, Daniel Henry (Tax), Ellen Pesch (Derivatives), Joseph Schwartz, Jacob Sitto (Investment Funds), John Chamberlin (Real Estate), Pietro Fontana (Global Finance), and Ellen Dunn (Litigation).