Debevoise & Plimpton LLP is advising Asta Capital and its shareholders, the market leading third party managing agent at Lloyd’s, in its sale to Davies, the leading specialist professional services and technology business, subject to regulatory approval.
Asta Capital is a key contributor to market innovations ranging from formalisation of the syndicate start-up process, to the development of the Lloyd’s syndicate-in-a-box framework.
The deal adds significant strength and reach to Davies’ global insurance services practice, widening the firm’s ability to offer end-to-end insurance management solutions to intermediaries, captives, syndicates, insurers, reinsurers and InsurTech businesses.
For full details, see the official release here.
It’s the latest Lloyd’s-related transaction advised on by the highly active Debevoise team. Earlier this year, Debevoise advised Compre in the establishment of its Lloyd’s syndicate and its first reinsurance to close transactions, as well as acting on a significant number of the market leading M&A, capital raisings, and banking and finance transactions.
The Debevoise team advising Asta Capital is led by international counsel Benjamin Lyon and international consultant Clare Swirski, and included associates Katie Power and Clarissa McNerney. Tax advice is being provided by international counsel Jenny Wheater. Employment and data protection advice is being provided by international counsel Christopher Garrett. Litigation support is being provided by associate Emma Laurie-Rhodes.