Allen & Overy advised Frankfurter Leben Group on the acquisition of 92 per cent of the shares in ARAG Lebensversicherungs-AG from ARAG SE.

The life insurance portfolio of ARAG Lebensversicherungs-AG comprises 322,000 policies with underlying investments of EUR 2.8 billion and insurance premiums of EUR 220 million. The transaction is still subject to approval by the German regulator BaFin.

Frankfurter Leben Group, based in Frankfurt am Main, was established in August 2015 and specialises in acquiring and managing life insurance portfolios from insurance companies as well as life insurers. With the acquisition of ARAG Lebensversicherungs-AG, Frankfurter Leben Group has taken another major step forward to building the leading consolidation platform for the management of life insurance portfolios in run-off.

The Allen & Overy team was led by partner Jan Schröder with support from counsel Anne Fischer and senior associate Achim Schmid (all corporate/M&A/insurance transactional and regulatory law, Dusseldorf). Specialist advice has been provided by partner Hans-Peter Löw, associate Sebastian Schulz (both E&B, Frankfurt), partner Heike Weber (Frankfurt), senior associate Dominic Paschke (both tax, Frankfurt), and senior associate Miray Kavruk (IP, Dusseldorf).