United States Eversheds Tender

Eversheds Sutherland is pleased to announce that it is representing Great-West Life Annuity Insurance Company in the proposed sale of its individual life insurance and annuity business via reinsurance to Protective Life Corporation.The business to be transferred which is marketed under the Great-West Financial brand includes bank-owned and corporate-owned life insurance single-premium life insurance individual annuities and closed block life insurance and annuities. The reinsurance transaction is expected to close in the first half of 2019 subject to regulatory approvals and customary closing conditions.Partner Bert Adams led the Eversheds Sutherland deal team for Great-West which included Partners Michael Miles Brenna Clark Adam Cohen Tom Gick Eric Fenichel John Benson Meredith OLeary and Chris Chan Counsels Sean Diamond Matt Hazlett Joshua Borden and Chris Schoen Associates Kevin Finnegan Laura Taylor John Allen Zumpetta and Phil Goldstein Of Counsel Jim McGibbon and Special Counsel Bronwyn McDermott.Goldman Sachs Co. LLC acted as financial advisor to Great-West for the transaction.Eversheds Sutherlands comprehensive reinsurance practice draws on its deep experience across the insurance industry and familiarity with all aspects of reinsurance both in the United States and internationally. Eversheds Sutherland constantly strives to keep ahead of the ever-changing regulatory environment across all jurisdictions. We develop reinsurance structures either on a discreet basis or as part of an acquisition or larger restructuring. Eversheds Sutherland drafts reinsurance agreements for property-casualty and life insurance clients advising on state credit for reinsurance matters and drafting reinsurance trust agreements. Eversheds Sutherland also aids clients during internal reviews of their reinsurance needs and programs.