Swiss Re Will Acquire GE Insurance Solutions for $6.8 Billion
11.18.05
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Simpson Thacher represents Swiss Re in its announced acquisition of GE Insurance Solutions, the fifth largest reinsurer in the world, from General Electric Company in a $6.8 billion transaction. Based in Kansas City, GE Insurance Solutions had net premiums earned of $6.2 billion in 2004 and total assets of $41.5 billion as of June 2005 (excluding GE Insurance Solutions' US life and health business which will not be part of the transaction). In a statement, Swiss Re said that GE Insurance Solutions will bring to Swiss Re "complementary products and skills and an attractive client base across many geographies."
Simpson Thacher attorneys involved in the matter include: Casey Cogut, Gary Horowitz, Jeffrey Symons, Kenneth Young and Jordan Ast (M&A); Gary Mandel and Thomas Gray (Tax); Mary Kay Vyskocil and Michael Kibler (Reinsurance); Steve DeLott (Insurance).