Generali in Sale of its U.S. Life Reinsurance Operations

June 4, 2013

Cleary Gottlieb assisted the Generali Group in the sale of Generali U.S. Holdings, Inc., the holding company of Generali’s U.S. life reinsurance operations, to SCOR Global Life Americas Holding Inc., a subsidiary of the French insurance group SCOR SE. Total expected gross proceeds to Generali are equal to $920 million. The agreement was announced on June 4, 2013. The transaction is subject to regulatory approvals and other customary conditions and is expected to close in the second half of 2013.

The Generali Group is one of Europe’s largest insurance providers and the biggest European life insurer.