Clifford Chance advised Watford Holdings Ltd. in its agreement to purchase 100 percent of the capital stock of Axeria IARD from the APRIL group.
The purchase agreement was announced on December 6, 2019, and the transaction is expected to close in the Spring of 2020, subject to regulatory approval.
The transaction represents another significant milestone in the build-out of Watford’s insurance business, and the company will work closely with its underwriting manager, Arch, to grow Axeria’s business in France and develop new opportunities throughout the EU.
Axeria is a property and casualty (“P&C”) insurance company based in Lyon, France and is active in the French and EU commercial P&C markets with in-force gross premiums written of approximately €140 million.
Watford Holdings Ltd. (Nasdaq ticker “WTRE”) is a global P&C insurance and reinsurance company, headquartered in Bermuda with operations in Bermuda, the U.S. and the EU.
The Firm’s cross-border team is being led in Paris by partner Laurent Schoenstein (Picture) and, in New York, by partner Gary Boss. The Corporate team includes advocat of counsel Sue Palmer in Paris, counsel Julien Brun in Paris, legal consultant Neil Barlow in New York and advocate Alice Declercq in Paris. New York partner Mike Seaton is advising on tax matters.
Involved fees earner: Gary Boss – Clifford Chance; Julien Brun – Clifford Chance; Alice Declercq – Clifford Chance; Sue Palmer – Clifford Chance; Laurent Schoenstein – Clifford Chance; Michael Seaton – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Watford Holdings;