Allen & Overy LLP has advised AXA DBIO on the acquisition of the international subsidiaries of GLOBAL Reinsurance Company. AXA DBIO is the acquisition vehicle of AXA Liabilities Managers (AXA LM), the run-off specialists of AXA Group, which specializes in acquisitions of reserves and property insurers in run-off as well as of insurance portfolios in run-off.

AXA LM will take over GLOBAL which has subsidiaries in the United States, Switzerland, Canada and Australia. With a total of 60 employees, subsidiaries recorded gross technical provisions in the amount of 400 million U.S. dollars. The transaction is still subject to approval by the relevant regulatory authorities.

The Allen & Overy team was led by partner Dr. Jan Schroeder and senior associate Anne Fischer (both lead) and associates Dr. Achim Schmid (all insurance companies), Dr. Christian Ronge (Corporate), Miray Kavruk (IP, all Dusseldorf) , partners Hans-Peter Löw and senior associate Dr. André Zimmermann (both Labour, Frankfurt) and Vera Associate Thiemann (antitrust, Hamburg).