Legal Business

Global elite firms have insurance sector consolidation covered

Early 2015 has seen key deals take place as the insurance sector consolidates, with Canada’s property and casualty insurer Fairfax Financial Holdings being the latest to gain a significant presence in London with its takeover of speciality insurer Brit for £1.2bn.

Within a year of being listed on the London Stock Exchange, FTSE 250 insurer Brit turned to a Slaughter and May team, including corporate heavyweight Jeff Twentyman and Richard Smith, while Paul, Weiss, Rifkind, Wharton & Garrison’s London-based capital markets and securities practice head Mark Bergman represented Brit on US law.