Hogan Lovells Advises QIC on Major Insurance Acquisition
20 February 2014
20 February 2014 - Hogan Lovells has advised Qatar Insurance Company S.A.Q (QIC) on its acquisition of Antares Holdings Limited, a leading Lloyd's specialist insurer and reinsurer with a particular focus in Property, Casualty, Marine and Aviation underwriting. The transaction signed on 13 February.
QIC is a publicly listed insurer with a market capitalisation in excess of US$ 2.9 billion; and an underwriting footprint across the Middle East, Africa and Asia. QIC is the market leader in Qatar and a dominant insurer in the GCC & MENA region.
The acquisition will provide QIC with access to Lloyd’s through Syndicate 1274 and Antares’ own integrated managing agency; as well as bringing a Bermudian platform with a Class 3 reinsurance license. The transaction is subject to UK, Bermudian and Qatari regulatory approvals.
The Hogan Lovells team advising QIC was led by London corporate senior associate John Connell supported by corporate partners Charles Rix and Steven McEwan, and a cross-practice London team.
Commenting on the transaction, Charles Rix said:
"It is a pleasure to work with QIC and we are delighted to be able to help them with this important step in their internationalization."