RPC, a leading international law firm, advised Optio Group – the MGA specializing in insurance – on its acquisition of Northcourt, a leading nuclear risk specialist.
Northcourt – which was launched in 2010 – is licensed to underwrite nuclear property and liability risks globally and has customers in Europe, Russia, China, South Africa and Canada, and elsewhere in the world. The management team and staff will all remain with the company.
RPC partner James Mee led the RPC team on behalf of Optio. Speaking of the deal, he said: âWe were very happy to have been invited to support what is a strategically very important deal for Optio. It was fascinating from start to finish.
âWe have greatly appreciated bringing our experience of mergers and acquisitions in the insurance market to the team supporting Optio and we wish them every success in integrating the Northcourt business and its employees into their business. “
Matthew Fosh – Executive Chairman of Optio Group – said: âThis transaction was strategically critical for Optio. As such, it was equally essential that we work with advisors who not only understood the law, but also had a rich appreciation for the dynamics of the insurance market and how we operate. I have known James and the RPC team for many years and it was great to work together on this topic.
The Optio transaction follows other announced insurance contracts processed by RPC in 2021, many of which are backed by private equity / financial sponsors.
The team handled over 20 transactional mandates in the insurance market in 2020, and 2021 has started off just as busy. Recent offers include:
transactions for Howden Group, including the acquisition of Sturge Taylor by Howden Broking and DUAL’s MGU relationship with the Dale syndicate (with the capacity of Aviva)
assist Assured Partners in its UK acquisition strategy, the most recent transaction being the acquisition of Borland Insurance
the launch of Mosaic Lloyd’s syndicate (backed by Golden Gate Capital), a new generation global specialist insurance platform
the strategic partnership between the fast growing Beat Capital Partners and Bain Capital Credit, involving the capital of the syndicate Lloyd’s 4242
as well as various legacy transactions such as RITCs and LPTs as well as two potential syndication deals and a number of refinancings.
RPC’s corporate insurance team is recognized as a leading advisor in the market. In 2020, the team acted for Beat Capital Partners as part of its strategic partnership with Bain Capital Credit, another major Lloyd’s deal, and 20 deals in total, with deal sizes across the value chain. . The team has been among the most active advisers in the M&A (re) insurance market and other mandates in recent years.