Hogan Lovells has advised Tokio Marine & Nichido Financial Life Insurance Co (TMNFL), a group company of Tokyo-listed Tokio Marine Holdings, on its absorption merger with another group company, Tokio Marine Nichido Life Insurance Co (TMNLI).
The merger combines two life insurance operations under Tokio Marine, resulting in a surviving entity that will assume all of TMNFL’s and TMNLI’s rights and obligations. The transaction was announced on 17 October 2013 and is expected to close on 1 October 2014.
Hogan Lovells is acting as international counsel to TMNFL and advising on the key contracts with reinsurance companies together with various advice under English and New York law.
The cross-border team advising TMNFL is led by Tokyo corporate partner Rika Beppu with significant contributions from New York partners James ‘Tony’ Fitzpatrick and Sean Keely, alongside London partner Victor Fornasier and senior associate Helen Sails.