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ATLANTA (December 9, 2004) – Sutherland Asbill & Brennan LLP has advised ING, a leading provider of financial products and services, in the $257 million sale of its subsidiary, Atlanta-based Life Insurance Company of Georgia to Britain's Prudential PLC unit Jackson National Life Insurance Co.
The deal, announced November 18, 2004, is expected to be completed in the first quarter of 2005. Life Insurance Company of Georgia, which was acquired by ING in 1979, has a portfolio of some 1.6 million life insurance policies and annuity contracts.
ING is a leading global financial institution offering banking, insurance, asset management, and other financial products and services to its customers across the world.
The Sutherland team was led by Partner Mark Kaufman, Counsel Christopher Zochowski and included David Massey, Marc Rawls and Florian Stamm, all of whom practice in the Corporate Group. Michael Miles and Carol Weiser, who practice in the firm's Tax Group; and Libby Langworthy, Dan Warren and Griff Griffin, who practice in the Intellectual Property Group, also worked on the deal.