King & Spalding’s London office represented Life Company Consolidation Group (LCCG) on its agreement with The Equitable Life Assurance Society (Equitable Life) under which it is proposed that Equitable Life and all of its business transfer to Reliance Life Limited (Reliance Life), a specialist UK run-off manager established by LCCG. The deal is reported to be valued at £1.8 billion. Equitable Life was founded in 1762 and is the world’s oldest mutual insurer.
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The King & Spalding London-based corporate team advising LCCG was led by partner William Charnley and associates Krishna Omkar, Kelly Nash and Layla D’Monte. Other members of the team included partner Jules Quinn and associate Emma Walker (employment), counsel Kim Roberts (data privacy), partner Angela Hayes and associate Daniel Hirschfield (regulatory), partner Daniel Friel (tax) and counsel Stephen John (real estate).