AXA RE Sells Reinsurance Business to PARIS RE

AXA RE completed the sale of its worldwide reinsurance business on December 21, 2006 to PARIS RE Holdings capitalized at US$1.6 billion. PARIS RE Holdings was formed by an investor group led by Trident III, LP (a fund managed by Stone Point Capital LLC, a global private equity firm based in Greenwich, Connecticut) and other leading private equity firms, including Hellman & Friedman, Vestar Capital Partners, Crestview Capital Partners, Och Ziff Management and New Mountain Capital. In Canada, this transaction involved the establishment of a new PARIS RE branch under the Canadian Insurance Companies Act.

With respect to the Canadian portion of the transaction, PARIS RE was represented by Torys LLP with a team led by Blair Keefe and Sunny Sodhi (corporate and insurance regulatory); Carolyn Naiman (competition); Phil Mohtadi (Investment Canada); John Unger (tax) and Christina Medland and Tara Sastri (employment). AXA RE was represented by Lang Michener LLP with a team led by Frank Palmay, Robert Cranston and Nika Robinson (corporate and insurance regulatory); James Musgrove (competition) and Kalle Soomer, Q.C. (tax).

Internationally, PARIS RE was represented by Dewey Ballantine with a team led by Jeff Liebmann and Jonathan Freedman. AXA RE was represented by Sullivan & Cromwell LLP with a team led by William Torchiana, Olivier de Vilmorin, Joram Lietaert Peerbolte, Jonathan Lehmann and Ashkan Karimi.


Carolyn N. Naiman John Unger James B. Musgrove Sanjit S. Sodhi Kalle Soomer Blair W. Keefe Christina H. Medland Nika Robinson Philip Mohtadi Robert R. Cranston Tara Sastri Frank Palmay


Torys LLP Dewey & LeBoeuf LLP Behiel Will & Biemans