Sidley Austin and Skadden have advised on Nationwide’s agreement with Massachusetts Mutual Life Insurance Company (MassMutual) for the reinsurance of a block of fixed universal life insurance policies comprising more than 30,000 policyowners. The transaction represents nearly US$6 billion of statutory reserves and a portfolio with a total face value of approximately US$16 billion.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals. Following completion, Nationwide Financial expects its reserves to increase by approximately US$6 billion.
Sidley Austin represented Nationwide in connection with the reinsurance agreement with MassMutual.
The Sidley team comprised Partners Amanda Todd and Paige Levitt.
Skadden advised MassMutual on its agreement with Nationwide for the reinsurance of the block of fixed universal life insurance policies with secondary guarantees.
The Skadden team included Elena Coyle, Liana-Marie Lien, Heather Cruz and Jared Binstock.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
