Simpson Thacher Represents JPMorgan, Financial Advisor to XL Group, in XL’s Announced Sale of its Life Reinsurance Business to GreyCastle Holdings
05.02.14
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The firm is representing J.P. Morgan Securities LLC in its role as financial advisor to XL Group plc in connection with XL’s announced sale of its wholly owned life reinsurance subsidiary, XL Life Reinsurance (SAC) Ltd, for $570 million in cash to GreyCastle Holdings Ltd. The transaction is expected to be completed in the second quarter of 2014 and is subject to satisfaction of regulatory conditions.
XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.
The Simpson Thacher team includes Peter Gordon and Scott Naturman (M&A) and Steve DeLott (Insurance).