Eversheds lands $343m insurance deal
Eversheds has landed the lead role for new client Enstar Group on its $343.4m (£195m) acquisition of insurance group Unionamerica Holdings. The Eversheds team was led by corporate partners Jon Roper and Rob Pitcher, with support from tax partner Casper Fox, banking partner Nick Swiss and employment partner Paul Fontes.The top 10 law firm advised opposite Norton Rose, which was instructed for the sellers, insurance group Travelers. The Norton Rose team was led by corporate finance partners Martin Scott and Maria Ross, with assistance from tax partner Dominic Stuttaford.
October 22, 2008 at 10:33 PM
2 minute read
Eversheds has landed the lead role for new client Enstar Group on its $343.4m (£195m) acquisition of insurance group Unionamerica Holdings.
The Eversheds team was led by corporate partners Jon Roper and Rob Pitcher, with support from tax partner Casper Fox, banking partner Nick Swiss and employment partner Paul Fontes.
The top 10 law firm advised opposite Norton Rose, which was instructed for the sellers, insurance group Travelers. The Norton Rose team was led by corporate finance partners Martin Scott and Maria Ross, with assistance from tax partner Dominic Stuttaford.
The deal sees Enstar acquire Unionamerica – made up of the discontinued operations of Travelers' UK-based London market business – from Travelers' subsidiaries St Paul Fire and Marine Insurance Company. Enstar acquires and manages insurance and reinsurance companies and also provides management and consultancy services to the sector.
The deal represents the first time that Eversheds had acted for Enstar, although Norton Rose has acted for both Enstar and Travelers in the past.
Roper said: "It is the first time that the firm has worked with Enstar and we hope to get more work from the company in the future. The agreement was signed on 7 October with the deal expected to formally conclude at the end of the year.
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