Freshfields Bruckhaus Deringer and Mishcon de Reya are advising as Japanese insurer Sompo Holdings agrees to sell its British unit Sompo Canopius for $952m (£735m).

Sompo, one of Japan's biggest property and casualty insurers, is selling the business to a private equity consortium led by Centerbridge Partners. It first bought Canopius, a specialist Lloyd's insurance market company with premium income of $1.6bn (£1.2bn), in 2014.