Sidley Represents Nationwide in US$16 Billion Reinsurance Agreement With MassMutual

Sidley represented Nationwide in its reinsurance agreement with Massachusetts Mutual Life Insurance Company (MassMutual) involving a block of fixed Universal Life insurance policies comprising more than 30,000 policyowners. The transaction, which is expected to close in the second quarter of 2026, has a total face value of nearly US$16 billion and will increase Nationwide Financial’s reserves by approximately US$6 billion.

For additional information, please refer to the press release.

The Sidley team was led by Amanda Todd and Paige Levitt (Insurance), and included Sara Africano, Cameron Baxendale, and Claire Ramsey (Insurance); Melissa Goldschmid and Thomas Power (Global Finance); Joseph Schwartz and Allison Hocevar (Investment Funds); Thomas Cunningham and Stephen McInerney (Privacy and Cybersecurity); and Peter Edgerton and Nathan Enfield (Tax).