Hamilton Insurance Group Acquired Pembroke and IEDAC

On 03/14/19, Hamilton Insurance Group, Ltd. (“Hamilton”) announced it would acquire:

• Pembroke Managing Agency Limited (“Pembroke”), and;
• Ironshore Europe Designated Activity Company (“IEDAC”)

Acquired from Liberty Mutual Group (“Liberty”)

• Terms of the transaction were not disclosed
• Transaction officially closed on August 20th, 2019

Formed in 2004, Pembroke is a specialty insurer writing through Syndicate 4000 at Lloyd’s

• Key product lines include Financial Institutions, Global Property and Professional Liability
• Also acts as a 3rd party managing agent for S.2014 (Acappella), S.1947 (GIC Re), and SPA 6125 (Patria Re)

IEDAC is an Irish insurer licensed to write business throughout the EEA

• Authorized to write (re)insurance business in a number of countries worldwide, including the U.S.

Hamilton is a Bermuda-based, data-driven global (re)insurance platform

• Operating entities include Hamilton Re, Ltd. and a Lloyd’s Managing Agency for Syndicate 3334
• Leverages advanced technology and analytics to drive returns on both sides of the balance sheet
• Strategic relationship with Two Sigma, a data driven investment manager with ~$50bn AUM
  • Manages the majority of Hamilton’s capital in its proprietary funds

The transaction will almost double Hamilton’s premium base

• Accelerates Hamilton’s goal of establishing a leadership position in specialty insurance
• Enhances Hamilton’s ability to expand its reinsurance franchise
• Expands Hamilton’s geographical presence and improves its strategic optionality

TCMA acted as exclusive financial advisor to Hamilton

• Assistance in valuation analysis
• Conducted business and financial due diligence
• Advised on the structuring and negotiation of transaction terms
• Provided objective advice and acting as a sounding board to the buyer throughout the process

TCMA provided a Fairness Opinion to the Board of Directors of Hamilton