Debevoise & Plimpton LLP advised AXA Equitable Holdings, Inc. in the transaction.
Heritage Life Insurance Company executed the acquisition of U.S. Financial Life Insurance Company (“USFL”) and MONY Life Insurance Company of the Americas, Ltd. (“MLICA”).
The transaction is expected to close in early 2020, subject to regulatory approval and the satisfaction of other closing conditions.
USFL and MLICA were acquired concurrent with the Company’s acquisition of the MONY Group in 2004 and have been in run-off since 2007. The businesses have combined net statutory reserves of approximately $1.0 billion.
AXA Equitable Holdings, Inc. (NYSE: EQH) is one of the leading financial services companies in the U.S. and is comprised of two complementary and well-established principal franchises, AXA Equitable Life Insurance Company and AllianceBernstein.
The Debevoise team was led by insurance partner Marilyn Lion (Picture) and included associates Morgan Sharp Aveni and Rebecca Sayles, tax partner Peter Schuur and associates Daniel Priest and Cameron Ellis Rotblat, benefits partner Lawrence Cagney and associate Zain Kazmi, intellectual property partner Jeffrey Cunard and associates Tigist Kassahun and Benjamin Sundholm and antitrust counsel Kyra Bromley.
Involved fees earner: Morgan Aveni – Debevoise & Plimpton; Kyra Bromley – Debevoise & Plimpton; Lawrence Cagney – Debevoise & Plimpton; Jeffrey Cunard – Debevoise & Plimpton; Tigist Kassahun – Debevoise & Plimpton; Zain Kazmi – Debevoise & Plimpton; Marilyn Lion – Debevoise & Plimpton; Daniel Priest – Debevoise & Plimpton; Cameron Rotblat – Debevoise & Plimpton; Rebecca Sayles – Debevoise & Plimpton; Peter Schuur – Debevoise & Plimpton; Benjamin Sundholm – Debevoise & Plimpton;
Law Firms: Debevoise & Plimpton;
Clients: AXA Equitable Holdings, Inc.;