Linklaters

Swiss reinsurance company Swiss Re bundled its activities in the reinsurance business in Europe via a Luxembourg company and will conduct its business in the future through branches in the respective jurisdictions. The reorganisation is implemented in connection with the EU Reinsurance Directive. By means of the so-called European passport, this Directive created uniform legal and regulatory conditions for reinsurance companies in Europe.

A Linklaters team led by Dr Rainer Stadler (tax) provided comprehensive advice to Swiss Re Germany AG on the restructuring and the transfer of the German reinsurance business to the Luxembourg carrier. In the restructuring process, the operating reinsurance businesses of the German companies were separated taking into account complex tax, corporate, employment and regulatory requirements and were subsequently merged into the newly established Luxembourg stock corporation by way of a cross border merger. Since then, this stock corporation has conducted the operating reinsurance business in Germany through a German branch.

The Linklaters team also included Dr Thomas Elser, Dr Christoph Götz, Dr Elmar Bindl, Dr Jann Jetter (all tax), Dr Wolfgang Krauel, Dr Stephan Morsch, Beate Stüve-Brammen (all corporate/M&A), Andreas Steck, Dr Frederik Winter (both regulatory) as well as Marianne Waldenmaier and Carolin Goll-Müller (both employment).