Ogier advises on $397 million insurance company sale

Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.
Cayman Compass is the Cayman Islands' most-trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.

Law firm Ogier announced last week that its team spanning Guernsey, Cayman, the British Virgin Islands and Jersey has advised Generali on its entry into an agreement to sell Generali Worldwide Insurance Company Limited and Generali Link to Life Company Consolidation Group.

According to the announcement, Generali will receive approximately $397 million in base consideration, plus nearly $10 million of contingent consideration to be paid at completion, for the sale of its stakes in Generali Worldwide and Generali Link that will be subject to certain customary adjustments following closing of the transaction in line with market practice.

“It is great to have been in a position to provide one coherent team across so many areas and in this way support Generali in meeting its objectives,” stated Ogier partner Bryon Rees in a press release. “The team not only positively reflects the breadth and depth of Ogier in serving clients but internally it has been a pleasure to be able to work with so many of our colleagues across the world for a sustained period.”

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