Debevoise & Plimpton LLP has advised Hamilton Insurance Group, Ltd. (“Hamilton”) on the company’s acquisition of Pembroke Managing Agency Limited (“Pembroke”) and Ironshore Europe DAC (“IEDAC”) from Liberty Mutual Holding Company, Inc. (“Liberty”). Upon closing, the transaction will almost double Hamilton’s total premium base.
Hamilton is the Bermuda-based holding company for property and casualty insurance and reinsurance operations in Bermuda and at Lloyd’s. The addition of Pembroke and IEDAC’s platforms further enhances the Company’s 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 United States.
The Debevoise team was led by Clare Swirski 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.
About Hamilton Insurance Group, Ltd.
Hamilton is the Bermuda-based holding company for property and casualty insurance and reinsurance operations in Bermuda and at Lloyd’s. The Company leverages analytics and research to create underwriting and investment value for its clients and shareholders.
About Pembroke Managing Agency Limited and IEDAC
Pembroke was formed in 2004 and underwrites a portfolio of specialty insurance products including Financial Institutions, Global Property and Professional Liability through Syndicate 4000 at Lloyd’s. Hamilton is also purchasing a Lloyd’s corporate member from Liberty, specially formed to support the 2019 year of account of Syndicate 4000.
IEDAC was formed in 2010 in Dublin, Ireland by Ironshore and is authorized to write business throughout the EEA and carries licenses to write business as a (re)insurer in a number of other countries worldwide. The company is also listed on the U.S. NAIC International Insurer Directory, allowing it to provide capacity in the United States.
About Debevoise & Plimpton
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.