Debevoise & Plimpton LLP is advising Resolution Life in its acquisition of the in-force individual life business of Voya Financial (NYSE: VOYA) for $1.25 billion, including $902 million cash and $123 million of surplus notes. As part of the transaction, Voya will hold a $225 million stake in Resolution Life. For more information, see Resolution’s press release.

Resolution Life is an international insurance and reinsurance group. The company’s entities have committed over $15 billion of equity in the acquisition, reinsurance, consolidation and management of 28 life insurance companies. Voya Financial is a financial, retirement, investment and insurance company.

The Debevoise team is led by insurance partners Alexander Cochran and Nicholas Potter and includes counsel Robert Fettman and associates AJ Farkas, Kristen Matthews and Khrystyna Rayko and law clerks Nicole Blansett and Sasha Semach, finance partners Sunil Savkar and Thomas Smith and associate Patrick Dixon, tax partner Michael Bolotin and associate Daniel Priest, benefits partner Jonathan Lewis and associate Zain Kazmi and intellectual property counsel Judith Church.