Allen & Overy LLP has advised AXA Liabilities Managers (AXA LM), a member of the AXA group specialised in acquiring and managing non-life reinsurance portfolios in run-off, on the acquisition of a reinsurance portfolio from Dusseldorf-based insurer Provinzial Rheinland.

The transaction was effected by AXA LM’s special holding company AXA DBIO, which invests in run-off acquisitions.
The current transaction is already the 16th external acquisition, and the 10th involving a German seller, which has been successfully concluded by AXA LM. AXA LM is thus reinforcing its market leadership in the field of acquisitions  of run-off reinsurance portfolios in Continental Europe. Allen & Overy regularly advises AXA LM on these transactions.

The Allen & Overy team comprised partner Dr Jan Schröder and counsel Anne Fischer (both Corporate Insurance, Dusseldorf).