Lincoln Benefit Life deal still needs regulators’ OK

Before it’s a done deal, the acquisition of Lincoln Benefit Life has to pass through the Nebraska Department of Insurance.

Allstate announced recently it would sell the 75-year-old local company to Resolution Life Holdings Inc., a British-owned company registered in Delaware, for $600 million. They said the deal was expected to close later this year.

But there are a variety of conditions that have to be satisfied under the law, and Christine Neighbors, the department’s deputy director and general counsel, said it will have to hire outside help because of the complexity of the transaction.

A hearing is scheduled within 30 days of the filing, assuming the application is in order.

A spokesman for the buyer, who says it is in a “quiet period” required of companies raising money from investors, acknowledged Resolution Life Holdings expects to file for approval of the sale this month.

That deal is complicated not least by the apparent business

Article source: http://journalstar.com/business/local/lincoln-benefit-life-deal-still-needs-regulators-ok/article_b7bb617f-ebb1-52bc-8b83-b8a26cf9dfd6.html

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