Lightyear Capital sells Antares Holdings
An affiliated investment fund of financial services private equity firm Lightyear Capital is to sell Antares Holdings, a specialist insurer and reinsurer operating in the Lloyd’s market, to Qatar Insurance Company SAQ.
Through Antares Syndicate 1274 the company underwrites a worldwide diversified range of property, casualty, marine and aviation insurance and reinsurance business through Lloyd’s, the world’s largest insurance marketplace.
Lightyear’s chairman and founder Donald B Marron says: “Lightyear was able to identify an opportunity to reposition Antares as a Lloyd’s syndicate in order to enable the company to access the optimal platform for its clients and for writing a diversified portfolio of business.”
Antares’ managing director Stephen Redmond says: “Lightyear played a critical role not only in repositioning Antares in the Lloyd's marketplace but also in working with us to strengthen the business model once we were independent.”
Antares received financial advice on this transaction from Evercore Partners International and legal advice from Davis Polk & Wardwell. The closing of the transaction is subject to regulatory approvals and other customary closing conditions. The transaction is expected to close in the second half of 2014. Financial terms of the transaction have not been disclosed.
- By Category
- News from other sites
- Special Reports
- By Location
- By Subject
Latest Special Report