Transatlantic Reinsurance Company restructures its European business
In order to strengthen its European presence, Transatlantic Reinsurance Company (TransRe) has decided to streamline its corporate structure in Europe for operational and regulatory reasons. As part of the restructuring, TransRe re-domiciled its Swiss subsidiary TransRe Zurich Ltd to Luxembourg under the new name TransRe Europe S.A. and centralized the management and administration of TransRe's operations across the European Union and the European Economic Area under the prudential supervision of the Commissariat aux Assurances (CAA) in Luxembourg. TransRe's Continental European offices in Munich, Paris and Zurich, as well as Dubai, continue to be branch offices of the re-domiciled entity in Luxembourg.
TransRe is a reinsurance organization headquartered in New York with operations worldwide. The ultimate parent company of TransRe is Alleghany Corporation which is listed on the New York Stock Exchange.
Lenz & Staehelin acted as counsel to TransRe for all Swiss corporate, regulatory and tax aspects of the cross-border re-domiciliation and the related release from supervision by the Swiss Financial Market Supervisory Authority (FINMA). The team included partners Matthias Oertle (Corporate/Employment) and Heini Rüdisühli (Tax) as well as associates Robin Hauser (Corporate/Regulatory), Lukas Staub (Regulatory) and Florence Hediger (Tax).