Slaughter and May advised Swiss Re Ltd on the sale of a minority stake in ReAssure, a market-leading UK closed life book consolidator within the Swiss Re Life Capital Business Unit, and related joint venture arrangements.

The sale values ReAssure at GBP 3.5 billion and involves Tokyo-based MS&AD Insurance Group Holdings, Inc. acquiring an initial 5% stake in ReAssure and committing to future investments of up to GBP 800 million.

The acquisition of the initial 5% stake is subject to regulatory approval, and closing is expected to occur in the first quarter of 2018.

Contacts

Corporate: Craig Cleaver (partner), Mark Bennett (partner), Robert Innes (partner), Kurt Ma (associate), Jack Gray (associate)

IP/ IT: David Ives (partner), Oliver Howley (associate)

Regulatory: Ben Kingsley (partner), Tim Fosh (associate)

Tax: Michael Lane (partner), Charles Osborne (associate)