Advestra advises Swiss Re on the sale of Elips Life AG to Swiss Life

Swiss Re has agreed to sell its life insur­ance sub­si­di­ary Elips Life AG to Swiss Life Inter­na­tion­al and to enter into a long-term rein­sur­ance part­ner­ship for elipsLife’s in-force and new busi­ness. As part of the agree­ment, Swiss Life will take over elipsLife, exclud­ing the med­ic­al busi­ness of Elips Ver­sicher­ungen AG in Ire­land, which will remain with Swiss Re. The trans­ac­tion is expec­ted to close in the first half of 2022, sub­ject to sev­er­al clos­ing con­di­tions, includ­ing reg­u­lat­ory approv­al and mer­ger con­trol clear­ance by the applic­able authorities.

Advestra acted as leg­al coun­sel to Swiss Re.