Armour Group Ltd.’s launching a New Bermuda-Based Reinsurance Company

Clifford Chance has advised Armour Group Holdings Limited in the sale of its interest in ILS Investment Management Limited, and in the formation of and the raise of US$500 million in equity commitments for Armour Group Ltd. and its wholly owned subsidiary, Armour Re Ltd.

The investment will provide growth capital for Armour, which plans to pursue global property and casualty run-off opportunities.

Armour is sponsored by Armour Group Holdings Limited, a Bermuda-based property and casualty run-off insurance business founded in 2007 by Brad Huntington and John Williams (the “Principals”), and Aquiline Capital Partners LLC (“Aquiline”), a New York-based private equity firm. Uniquely, the transaction involves a contribution of existing insurance entities into a new structure and, as part of the transaction, the Principals are contributing an existing ILS manager and a claims manager to Armour.

Clifford Chance has advised Armour Group Holdings Limited on the deal with a team led by Gary Boss (picture), assisted by Tax partner Mike Seaton; Capital Markets partner Per Chilstrom; Employment partner Howard Adler; and associates Analisa Dillingham, Kirsten Gaeta, Jeff LeMaster and Rebecca Pereira.

Involved fees earner: Gary Boss – Clifford Chance; Analisa Dillingham – Clifford Chance; Kirsten Gaeta – Clifford Chance; Per Chilstrom – Clifford Chance; Jeff LeMaster – Clifford Chance; Michael Seaton – Clifford Chance; Rebecca Pereira – Clifford Chance; Howard Adler – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Armour Group plc ;

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Author: Ambrogio Visconti