Announcements
Sidley Guides Resolution Life in Strategic Transaction With Farmers New World Life Insurance Company
May 18, 2023
Sidley is advising Resolution Life in a strategic transaction with Farmers New World Life Insurance Company (FNWL).
Under the agreement, FNWL will cede its in-force individual life insurance business to Resolution Life’s insurance subsidiary, Security Life of Denver Insurance Company, which will enter into a flow reinsurance treaty covering the current range of individual life products. Resolution Life has partnered with Swiss Re to retrocede all of the reinsured term life insurance liabilities.
Resolution Life is a global life insurance group focused on the acquisition and management of portfolios of life insurance policies. FNWL is the life insurance subsidiary of Farmers Group, a subsidiary of Zurich Insurance Group.
This complex deal includes a highly tailored solution that Sidley helped structure, and represents the firm’s ability to guide insurance industry clients in their most innovative international transactions.
The Sidley team is led by Jon Kelly and Vince Onorato (both Insurance), and includes Brad Drake, Chad Vance, Andrew Holland, Jennifer Norris, Alexander Koster, Cameron Baxendale, Alex Meyer, Sharon DiPrinzio, Jim Ford (Insurance), Peter Edgerton, Daniel Henry (Tax), Eileen Liu, Alexa Peterson (Employee Benefits), Eric Hoffman (Labor and Employment), Jennifer Coplan, Kyle Barnett (Intellectual Property), Colleen Brown, Lauren Kitces, Cole Rianda (Privacy and Cybersecurity), Bibi Azcuy (Real Estate), Jessica Pisani, Aida Kimiagar (M&A), and Conner Collins (Capital Markets).
Under the agreement, FNWL will cede its in-force individual life insurance business to Resolution Life’s insurance subsidiary, Security Life of Denver Insurance Company, which will enter into a flow reinsurance treaty covering the current range of individual life products. Resolution Life has partnered with Swiss Re to retrocede all of the reinsured term life insurance liabilities.
Resolution Life is a global life insurance group focused on the acquisition and management of portfolios of life insurance policies. FNWL is the life insurance subsidiary of Farmers Group, a subsidiary of Zurich Insurance Group.
This complex deal includes a highly tailored solution that Sidley helped structure, and represents the firm’s ability to guide insurance industry clients in their most innovative international transactions.
The Sidley team is led by Jon Kelly and Vince Onorato (both Insurance), and includes Brad Drake, Chad Vance, Andrew Holland, Jennifer Norris, Alexander Koster, Cameron Baxendale, Alex Meyer, Sharon DiPrinzio, Jim Ford (Insurance), Peter Edgerton, Daniel Henry (Tax), Eileen Liu, Alexa Peterson (Employee Benefits), Eric Hoffman (Labor and Employment), Jennifer Coplan, Kyle Barnett (Intellectual Property), Colleen Brown, Lauren Kitces, Cole Rianda (Privacy and Cybersecurity), Bibi Azcuy (Real Estate), Jessica Pisani, Aida Kimiagar (M&A), and Conner Collins (Capital Markets).
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