International law firm McDermott Will & Emery represented Brit Insurance Holdings Limited, in its sale of Ambridge Group, the managing general underwriter operations of Brit, for $400 million to Amynta Agency Inc., a premier insurance services company with more than $3.5 billion in total managed premiums. The transaction includes the sale of Brit Insurance USA Holdings, Inc. and its subsidiaries as well as Ambridge Europe and its subsidiaries. With this transaction, the businesses will enter into a multi-year agreement for Brit to be a significant capacity partner to Ambridge.
The transaction is expected to close Q2 2023 subject to regulatory approval.
The cross-border deal team was led by Michael Halsband, Christopher Stacker, Smith Alpert and Leigh Solomon and included Eleanor West, John Lutz, Jared Bryant, Kevin Cummings, Sarah Gabbai, Jed Gordon, Andrew Granek, Caitlin Harrington, Gregory Heltzer, Kathy Schumacher, Melis Solaksubasi, Michelle Strowhiro and Erin Turley.
Read Brit’s press release here.
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