Clifford Chance

Clifford Chance advises Premia on acquisition of Navigators Holdings (Europe) NV, and US$40 million private placement of notes

New York: Leading international law firm Clifford Chance is advising global reinsurer Premia Holdings Ltd. (Premia) on two significant transactions: its acquisition of Navigators Holdings (Europe) NV (and its associated companies, including Assurances Continentales – Continentale Verzekeringen NV of Belgium and Canal Re S.A. of Luxemburg (ASCO)) from US-based insurance and investment company, The Hartford; and a private placement of US$40 million subordinated notes structured to qualify as tier 2 capital.

ASCO is an established Continental European insurance group and will be Premia’s dedicated platform in the Continental European market. The acquisition is subject to regulatory approval.

New York-based Corporate partner Gary Boss led a cross practice, cross jurisdictional team on the acquisition and was supported by New York-based Corporate associate Neil Barlow. The wider deal team included partners Analisa Dillingham (Reinsurance, New York), Michael Seaton (Tax, New York) and Lounia Czupper (Finance, Brussels), with support from associates Dean Agnos (Corporate, New York), Valérie Demeur (Regulatory, Brussels) and Joseph Hansen (Tax, New York).

The New York team working on the private placement was led by partners Gary Boss (Corporate), Per Chilstrom (Capital Markets) and Avrohom Gelber (Tax) and included support from counsel Andrew Young (Banking & Finance) and associates Dean Agnos (Corporate) and Sean Smestad (Tax).

Clifford Chance has advised Premia on numerous matters. In 2017, the firm advised Premia on its formation and US$510 million initial capital raise in a transaction that was awarded 2017 Launch of the Year by Reactions Magazine.