Overview
International law firm McDermott Will & Emery represented Transverse Insurance Group LLC, a US-based based hybrid fronting insurance company and part of the Virgo Investment Group’s portfolio, in its agreement to be sold to Mitsui Sumitomo Insurance Co., Ltd., a member of the MS&AD Insurance Group, pending customary regulatory approval.
Transverse was established in 2018 by Virgo Investment Group and co-founders Erik Matson and Dave Paulsson. Since its inception, the Company has quickly grown to over 50 professionals, claiming a meaningful share of the U.S. fronting market. The combined company will allow Transverse to accelerate its competitive advantage by securing greater access to product lines and new distribution opportunities, serving the evolving and long-term needs of its MGAs and reinsurer partners more effectively.
- The transaction was announced on August 10, 2022 and closed on January 3, 2023.
- The McDermott deal team was led by Michael Halsband and includes Robert Clagg, Marisa Young, Amanda Kane, Leigh Solomon, John Lutz, Andrew Granek, Erin Turley, Nick Paul, Brian Mead, Jed Gordon, David Saunders and David Solander.
- Read Transverse’s press release here.
About McDermott
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