Hamilton Insurance Group, Ltd.’s Acquisition of Pembroke Managing Agency Limited


TigerRisk Capital Markets & Advisory served as financial advisor and Debevoise & Plimpton LLP served as legal advisor to Hamilton.

Hamilton Insurance Group, Ltd. (“Hamilton”; “the Company”), the Bermuda-based holding company for insurance and reinsurance operations in Bermuda and at Lloyd’s, has signed a definitive agreement with Liberty Mutual Group (“Liberty”) to acquire the Pembroke Managing Agency Limited (“Pembroke”) platform at Lloyd’s and Ironshore Europe DAC (“IEDAC”).

Upon closing, the transaction will almost double Hamilton’s total premium base. The complementary profile of Pembroke and IEDAC’s business both accelerates the Company’s goal of establishing a leadership position in specialty insurance and its ability to expand its reinsurance franchise. Dublin-based carrier IEDAC provides flexibility and strategic optionality for Hamilton, particularly with respect to its growth initiatives in Europe and the US.

Under the terms of the definitive agreement, Hamilton will be responsible for the 2019 Year of Account for Syndicate 4000 and Liberty will retain the corporate member for prior years.

The transaction is expected to close later this year, subject to the fulfilment of customary closing conditions and obtaining the necessary regulatory approvals.

The Debevoise team was led by Clare Swirski (Picture) in London and E. Drew Dutton in New York and included partners Meir Katz, Henry Lebowitz, Peter F.G.Schuur and Richard Ward. Associates Sarah Hale, in London, and Kristen A. Matthews, in New York, managed the UK and U.S. teams which included international counsel Cécile Beurrier, counsel Eugene Benger and associates Katherine M. Arango, Heather Atkins, Morgan S. Aveni, Christopher Garrett, Anne-Mette Heemsoth, Khrystyna Rayko, Ben Sundholm and Alana Simone Walker.

Involved fees earner: Heather Atkins – Debevoise & Plimpton; Morgan Aveni – Debevoise & Plimpton; Eugene Benger – Debevoise & Plimpton; Cécile Beurrier – Debevoise & Plimpton; Drew Dutton – Debevoise & Plimpton; Christopher Garrett – Debevoise & Plimpton; Sarah Hale – Debevoise & Plimpton; Anne-Mette Heemsoth – Debevoise & Plimpton; Meir Katz – Debevoise & Plimpton; Kristen Matthews – Debevoise & Plimpton; Khrystyna Rayko – Debevoise & Plimpton; Peter Schuur – Debevoise & Plimpton; Alana Simone Walker – Debevoise & Plimpton; Ben Sundholm – Debevoise & Plimpton; Clare Swirski – Debevoise & Plimpton; Richard Ward – Debevoise & Plimpton; Henry Lebowitz – Fried Frank Harris Shriver & Jacobson;

Law Firms: Debevoise & Plimpton; Fried Frank Harris Shriver & Jacobson;

Clients: Hamilton Insurance Group;

Print Friendly, PDF & Email