28 November 2016
Fidelis Insurance Holdings Named the 2016 Best Capital Raise by Reactions Magazine
Reactions magazine recently unveiled the winners of its 2016 North American Awards and selected Fidelis Insurance Holdings ("Fidelis") as the winner for Best Capital Raising. Fidelis was advised by the New York office of Clifford Chance and Insurance/M&A partner Gary Boss.
This was the second such launch distinguished for employing a hybrid investment model that combines a diversified multi-line reinsurance business with an alternative investment strategy, allowing the company to shift capital and risk between insurance and investments to maximize shareholders returns.
This year's award points to a trend in what has become an optimal deal structure for total return insurance ventures. Clifford Chance and Boss previously advised on the Watford Re launch, which took the same award in 2014.
Reactions magazine is a leading global re/insurance publication. Its annual awards recognize transactions that have "made a lasting impression on the North American insurance and reinsurance industry."
In addition to Boss, the Clifford Chance team included Capital Markets partners Anand Saha and Per Chilstrom, Tax partners Donald Carden and Mike Seaton, counsel John Kelley and Robert Stone and associate Dean Agnos.
Clifford Chance is the established market leader in alternative capital reinsurance ventures, with another reinsurance vehicle launch, Harrington Re, having more recently been completed.