Zimmer Financial Services Group (Zimmer), whose businesses include insurance and investment management, announced the sale of its specialty legacy insurance provider, Carrick Specialty Holdings. Founded by Zimmer in 2019, Carrick quickly grew operations in the United States, United Kingdom, and Bermuda, establishing a strong record of deals in the legacy market. Under the terms of the transaction, Carrick was purchased at a premium to book value by Northlight QIAIF plc, an Irish-regulated company managed by Northlight Group LLP, a London-based investment manager.
Latham & Watkins LLP represented Zimmer in the transaction with a corporate deal team led by New York partners Gary Boss and Kirsten Gaeta and London partner Sam Newhouse, with associates Alice Drayton and Antonina Semyachkova. Advice was also provided on insurance matters by New York partner Analisa Dillingham, London counsel Tim Scott, and New York counsel Dean Agnos; on benefits and compensation matters by New York partners Bradd Williamson and Megan Alessi and New York counsel Sandra Benjamin, with associate Charity Wyatt; and on tax matters by Bay Area partner Katharine Moir and London partner Aoife McCabe, with associate Christine Mainguy.
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