Global law firm Norton Rose Fulbright has played a pivotal role in advising Aquiline Capital Partners on acquiring a majority stake in marine insurance managing general agent (MGA) Clearwater Underwriting.
Aquiline, a private investment company, collaborates with businesses providing solutions in the financial services domain and invests in growth-focused financial services and technology enterprises through various strategic investments.
Clearwater Dynamics' software platform
Established in 2024, Clearwater Underwriting is based in London and employs the technological capabilities of Clearwater Dynamics’ software platform to offer comprehensive underwriting services. The company utilises its expertise to support brokers and clients within the marine industry.
Norton Rose Fulbright's advisory team was spearheaded by corporate insurance partner Nicholas Berry and private equity partner Sophie O’Connor. The group was bolstered by an extensive network of legal experts, including partners and associates from various specialties across London, Munich, and Hamburg.
Investor interest in innovative MGAs
The transaction comes on the heels of Norton Rose Fulbright's recent advisory work with Aquiline
Nicholas Berry remarked, “We are delighted to have advised Aquiline on this majority investment in Clearwater Underwriting. The transaction highlights continued investor interest in innovative MGAs and demonstrates the strength of our cross-border team in delivering complex deals within the private equity and insurance sectors.”
This transaction comes on the heels of Norton Rose Fulbright's recent advisory work with Aquiline on the acquisition of IQUW Group by Starr, showcasing the firm’s expertise in significant industry transactions.
Legal advice and strategy to clients
Norton Rose Fulbright boasts a global team of private equity lawyers who offer strategic legal advice throughout the fund lifecycle, serving a varied client base. This includes global equity investors, management teams, and institutions ranging from venture capital firms to pension funds.
In the insurance realm, their legal professionals assist major industry participants with critical corporate, regulatory, and transactional matters, along with guiding them through complex claims, disputes, and investigations.
Global law firm Norton Rose Fulbright has advised private equity firm Aquiline Capital Partners (Aquiline) on its majority investment in marine insurance MGA Clearwater Underwriting.
Aquiline is a private investment firm that partners with businesses offering solutions to the financial services industry. The firm invests in growth-oriented financial services and technology companies through private equity, credit, and other strategic capital solutions.
Clearwater Dynamics’ software platform
Founded in 2024, Clearwater Underwriting is a London-based MGA that leverages Clearwater Dynamics’ software platform and its own market knowledge to deliver underwriting services and support for brokers and clients in the marine sector.
The multi-jurisdictional team advising on the deal was led by partners Nicholas Berry (corporate – insurance) and Sophie O Connor (corporate – private equity). They were assisted by London-based partners Matthew Findley (tax), Mike Knapper (intellectual property) and Dominic Stuttaford (tax); counsel Lai Lynn Choong (intellectual property) and Nick Howard (employment); senior associates Sofia Casselbrant and Barbara Gaffey (tax); and associates Emma Borch (corporate), Hobz De Caux (corporate), Sebastian Ferguson (corporate), Angelina Lim-Jordan (corporate) and Polina Maloshchinskaia (intellectual property). Additional support was also provided by Munich-based partner Bernd Dreier (corporate - private equity) and Hamburg-based associate Sebastian Sievers (corporate).
Investor interest in innovative MGAs
Nicholas Berry said: “We are delighted to have advised Aquiline on this majority investment in Clearwater Underwriting. The transaction highlights continued investor interest in innovative MGAs and demonstrates the strength of our cross-border team in delivering complex deals within the private equity and insurance sectors.”
Norton Rose Fulbright recently advised Aquiline - along with IQUW and its other principal shareholders - in relation to the acquisition of IQUW Group by Starr.
Legal advice and strategy to clients
The firm’s global team of private equity lawyers provide valuable legal advice and strategy to clients at every stage of the fund lifecycle, representing a broad client base including global equity investors, management teams, targets, financial advisers, senior and mezzanine debt arrangers, venture capital firms, pension funds, entrepreneurs and financial institutions.
Its insurance lawyers advise many of the world’s most well-known industry participants on their most significant corporate, regulatory and transactional matters, as well as on complex claims, class actions, disputes and investigations.
