"Everest Group Transfers Global Retail Insurance Renewal Rights to AIG to Focus on Core Reinsurance Business"

"Everest Group has finalized agreements to transfer the renewal rights of its global retail commercial insurance business to American International Group (AIG). This move allows Everest to focus on its core reinsurance business and global wholesale and specialty insurance operations. The transaction involves renewal rights worth approximately $2 billion in gross written premiums across the US, UK, Europe, and Asia-Pacific. BonelliErede, alongside Debevoise, provided multidisciplinary legal assistance to Everest during the deal."

BonelliErede and Debevoise participated in the transaction, assisting Everest Group. Everest Group, a global player in the insurance and reinsurance sector, entered into definitive agreements to sell the renewal rights of its global commercial retail insurance business to American International Group (AIG). This transaction allows Everest to focus on its global reinsurance core business, as well as its global wholesale and specialty insurance activities. As part of the deal, AIG will acquire all renewal rights for Everest's retail commercial activities in the United States, the United Kingdom, Europe, and the Asia-Pacific region, representing approximately $2 billion in gross written premiums. BonelliErede assisted Everest with a multidisciplinary team led by partner Stefano Micheli, leader of the Focus Team Insurance, and included senior associate Tommaso Trezzi and Matteo Furlani for corporate M&A and regulatory matters. Labour aspects were handled by partner Vittorio Pomarici and senior associate Alessia Varesi. Data Protection matters were managed by partner Tommaso Faelli, managing associate Giulia Tenaglia, and associate Elisa Simionato. Tax aspects of the transaction were overseen by partner Giampaolo Genta, supported by senior associate Giovanni Bisleri. Debevoise coordinated the transaction.

"Everest Group Transfers Global Retail Insurance Renewal Rights to AIG to Focus on Core Reinsurance Business"

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