Hogan Lovells advises Qatar Insurance Company on £200 million Pollen Street Capital led investment in Markerstudy Group
London, 28 January 2021 - International law firm Hogan Lovells has advised Qatar Insurance Company (“QIC”), one of the largest insurance companies in the MENA region in terms of profitability and market capitalisation, on its participation in a £200 million investment led by Pollen Street Capital (“Pollen Street”) in Markerstudy Group (“Markerstudy”), and on its ongoing strategic partnership with Markerstudy.
Founded in 2001, Markerstudy is the fifth largest motor insurance provider in the UK, one of the largest privately owned insurance groups, and the largest Managing General Agent in the UK. Markerstudy will use the investment to deliver an ambitious and sustainable growth programme through a combination of organic and acquisition-led expansion and build on its rapid development over the last 19 years, which culminated in the acquisition of the Co-op’s insurance underwriting business in December 2020. QIC’s participation in the transaction underlines its commitment as a strategic partner to Markerstudy, having built a successful personal lines platform in partnership with Markerstudy since its acquisition of Markerstudy’s insurance carriers in 2018.
The Hogan Lovells team was led by corporate M&A partner John Connell, with support from corporate M&A partners Steven McEwan and Jonathan Russell, senior associates Anthony Doolittle and Cees Brouwer, associate Vinura Ladduwahetty, and trainee Blaise Salle.
Commenting on the deal, partner John Connell said: “We are delighted for QIC, Markerstudy and Pollen Street and congratulate them on this alliance. We have a lengthy history helping QIC and Markerstudy on their long-running partnership and are delighted to have helped on this new chapter. This transaction sits squarely in our sweet spot – M&A in highly regulated sectors. And really allows us to showcase the depth of our insurance M&A and private equity expertise.”
Markerstudy were advised by KBW, Oliver Wyman and Slaughter and May, Pollen Street by Alantra, Proskauer Rose, PwC, Alvarez & Marsal, Crosslake, and AON and QIC also by Jefferies.