Skip to content

HFW advises Capita Commercial Insurance Services Limited on investment in Pardus Holdings Limited

News
27 May 2014
3 MIN READ
2 AUTHORS

Holman Fenwick Willan (HFW) Partner Ashwani Kochhar and Associate William Reddie have advised Capita Commercial Insurance Services Limited (Capita) on a transaction to finance the start-up of Pardus Holdings Limited, by taking a minority stake.

As part of the transaction, Capita will provide business outsourcing services to managing general agent (MGA) Pardus Underwriting Limited, a wholly-owned subsidiary of Pardus Holdings Limited, which will initially write North American property insurance.

This is the third such investment Capita has made as part of its strategy of building a portfolio of minority equity stakes in insurance intermediary businesses to which it also provides business outsourcing services.

HFW also advised Capita on its previous two investments in MGAs:

  • In a deal that was widely publicised in 2013, Capita took a stake in Cobalt Insurance Holdings in order to finance the launch of Shariah-compliant MGA Cobalt Underwriting Services.
  • In March 2014, Capita took a minority stake in Infinity Agency Limited, which specialises in high net worth motor insurance.

For further information, please contact Tania Phayre, Head of Marketing Communications, on +44 (0)20 7264 8546 or email tania.phayre@hfw.com.

Press Contact
Ashwani Kochhar
Partner
William Reddie
Partner