J.C. Flowers Portfolio Company Fidea in the Acquisition of Non-Life Insurance Portfolio from Delta Lloyd

Cleary Gottlieb is representing Fidea, a Belgian insurance portfolio company of J.C. Flowers & Co., in its acquisition of the portfolio of non-life insurance policies commercialized under the Zelia brand name from Delta Lloyd Life and the entry into of a non-life insurance distribution agreement with Delta Lloyd Bank. With the acquisition of this portfolio, Fidea reinforces its position on the market as well as its distribution network. The transaction was signed on January 4, 2013 and closing is subject to customary regulatory approvals.

J.C. Flowers & Co. is a global investment adviser and private fund manager that focuses on the financial services industry. J.C. Flowers & Co. acquired Fidea from the KBC group in 2012. Cleary Gottlieb had acted as counsel to J.C. Flowers & Co. in this transaction.

Delta Lloyd is a bank and insurance group headquartered in The Netherlands.