Drinker Biddle Advises Continental General Insurance Company on $2.4 Billion Acquisition

Drinker Biddle recently represented Continental General Insurance Company (CGIC) in its acquisition of Kanawha Insurance Company, a long-term care insurer with approximately $2.4 billion of cash and invested assets, from Humana Inc.

The multidisciplinary team was led by Corporate partners Dan Krane, Adam Weinstock and Joe Seiler and supported by Long-Term Care Insurance Team co-leader Stephen Serfass. CGIC is the insurance subsidiary of HC2 Holdings, Inc., a public diversified holding company. The acquisition strengthens CGIC’s position in the long-term care insurance industry and positions it for future acquisitions.

More than two dozen Drinker Biddle lawyers were also involved in the transaction and provided corporate, regulatory and tax advice, among other matters. These members include Elisabeth Fiordalisi, Steve Hamilton, Matt Meltzer, Nolan Tully and Elliott Schreffler.