Willkie advised Baloise Belgium NV (Baloise) on an asset-intensive reinsurance transaction opposite Reinsurance Group of America (RGA). The underlying portfolio consists of approximately 57,000 individual life insurance policies with guaranteed minimum returns and total reserves of approximately €900 million.

This transaction, which closed on February 1, achieves the transfer of financial and biometric risks of the portfolio to RGA and makes use of collateral arrangements to secure RGA’s obligations in favor of Baloise.

Willkie’s Insurance Transactional and Regulatory Practice is recognized as an industry leader and the Baloise transaction leverages the firm’s experience advising funded reinsurance transactions in the UK market.

Baloise is a leading insurance company headquartered in Basel, Switzerland, with subsidiaries in Belgium, Germany and Luxembourg.

The Willkie deal team was led by partner Kirsty Maclean and included partners Melanie James and Ashley Young and associates Magdi Adab and Dillon Siebert.