Mayer Brown Advises Somerset Reinsurance on Sale of Controlling Interest to Aquarian – InsuranceNewsNet

CHICAGO, Illinois, June 9 — Mayer Brown, a law firm, issued the following news:

A Mayer Brown team advised Somerset Reinsurance Ltd (Somerset Re), a leading provider of reinsurance solutions to the US life insurance and annuity market with over $5 billion in assets under management, on its definitive agreement to sell a controlling interest to Aquarian Holdings.

The transaction will also provide Somerset Re with a substantial amount of immediate and committed new capital to further drive growth, fortify Somerset Re’s strong market position, and provide additional resources to support its pipeline of opportunities.

The transaction is expected to close in the third quarter of 2022 and is subject to customary regulatory closing conditions.

The Mayer Brown team was led by Corporate & Securities partner David Alberts and counsel Ben Kralstein and Banking & Finance partner Steve Rooney.

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Original text here: https://www.mayerbrown.com/en/news/2022/mayer-brown-advises-somerset