Eversheds Sutherland Advises Talcott Financial Group in $7B Block Reinsurance Transaction with Guardian

Eversheds Sutherland is pleased to announce that it represented client Talcott Financial Group, an international life insurance group, in a reinsurance transaction between the company’s subsidiary, Talcott Resolution Life Insurance Company, and The Guardian Insurance & Annuity Company, Inc., a wholly owned subsidiary of The Guardian Life Insurance Company of America.

Under the terms of the agreement, Talcott will reinsure approximately $7.4 billion in variable annuity liabilities, primarily comprised of contracts with guaranteed living withdrawal benefit and death benefit riders. The transaction is expected to close by year-end, subject to customary closing conditions.

Eversheds Sutherland Partner Ling Ling led the team in this transaction with assistance from Partners Matthew L. Hazlett and Sean D. Wissman, and Associate Atiana J. Johnson. 

The Eversheds Sutherland Insurance practice has been advising leaders in the insurance industry for more than 50 years. Immersed in insurance—from transformative transactions to essential operations—Eversheds Sutherland’s team develops creative, business-oriented solutions in mergers and acquisitions, reinsurance, finance, demutualizations, tax, litigation, regulatory, and captive matters, among many others.

About Eversheds Sutherland 
As a global top 10 law practice, Eversheds Sutherland provides legal services to a global client base ranging from small and mid-sized businesses to the largest multinationals, acting for 79 of the Fortune 100, 65 of the FTSE 100 and 134 of the Fortune 200.

With more than 3,000 lawyers, Eversheds Sutherland operates in over 70 offices in more than 30 countries across Africa, Asia, Europe, the Middle East and the United States. In addition, a network of more than 200 related law firms, including formalized alliances in Latin America, Asia Pacific and Africa, provide support around the globe.

Eversheds Sutherland provides the full range of legal services, including corporate and M&A; dispute resolution and litigation; energy and infrastructure; finance; human capital and labor law; intellectual property; real estate and construction; and tax. 

Eversheds Sutherland is a global legal practice and comprises two separate legal entities: Eversheds Sutherland (International) LLP (headquartered in the UK) and Eversheds Sutherland (US) LLP (headquartered in the US), and their respective controlled, managed, affiliated and member firms. The use of the name Eversheds Sutherland is for description purposes only and does not imply that the member firms or their controlled, managed or affiliated entities are in a partnership or are part of a global LLP. For more information, visit eversheds-sutherland.com.