International law firm Freshfields Bruckhaus Deringer is advising New York Life Insurance on the sale of its 26% stake in Max New York Life (MNYL), India’s 4th largest private life insurance company, to MS&AD Insurance Group Holdings, the global insurance company based in Japan.

The all cash transaction values MNYL, which will be rebranded Max Life Insurance Company after closing, at $2.1 billion. Max India will retain its 70% majority stake in the company. 

The Freshfields team advising New York Life on this transaction was led by New York corporate partner Matthew Jacobson and included New York corporate associates Saswat Bohidar, Paul Humphreys and Vincent Bergin. Mumbai-based law firm Platinum Partners advised on Indian law matters.