International law firm RPC has advised Optio Group – a speciality insurance MGA – on its acquisition of nuclear risk specialist Northcourt.
Northcourt – which launched in 2010 – is licensed to underwrite nuclear property and liability risks globally and has clients in Europe, Russia, China, South Africa and Canada, and elsewhere across the world. The executive management team and staff will all remain with the business.
RPC Partner James Mee led the RPC team on behalf of Optio. “We were very pleased to be asked to support on what is a strategically very significant deal for Optio,” he says. “It has been fascinating from start to finish.
“We have very much enjoyed bringing our experience of M&A in the insurance market to bear as part of the team supporting Optio and wish them every success as they integrate the Northcourt business and its people into their company.”
Matthew Fosh – Executive Chairman at Optio Group – says: “This transaction was strategically critical for Optio. As such, it was equally critical that we worked with advisers who not only understood the law, but also had a rich appreciation of the dynamics of the insurance market and how we operate. I’ve known James and the RPC team for a good many years and it was great to work together on this.”
The Optio transaction follows other announced insurance deals handled by RPC in 2021, many of which are private equity/financial-sponsor backed.