Clifford Chance advises Inigo Limited on its proposed $1.7 billion sale to Radian Group Inc

Clifford Chance has advised long-standing client Inigo Limited on the proposed sale of its business to Radian Group Inc., an NYSE listed mortgage insurer. The transaction values the business at up to $1.7billion and is subject to customary regulatory approvals. Inigo Limited is a leading Lloyd’s of London specialty insurer launched in 2021 by a highly experienced leadership team led by Richard Watson and with backing from JC Flowers, QIA, CDPQ and Oakhill, among others.

This transaction demonstrates the strength of Clifford Chance in the Lloyd’s market and follows roles advising on some of the most innovative Lloyd’s market work in recent years, including advising Lloyd’s on the formation of the successful Lloyd’s “London Bridge 2” platform, advising Brit on its joint venture with Blackstone to create Ki, the first fully digital and algorithmically-driven Lloyd’s syndicate and advising RiverStone International on the largest ever third party Reinsurance-to-Close transaction at Lloyd’s with MS Amlin.

Clifford Chance advised on all legal and regulatory aspects of the transaction including corporate M&A, insurance regulatory, incentives, employment, antitrust and tax.

The team was led by London FIG M&A partners Ashley Prebble and James Cashier, who were assisted by Steven Fox, Emma Eaton, Fergus Grady, Madeleine McIntosh, Ayush Vijayvargiya, Beth Eyre, Nemr Chaer, Nathan Elbrond-Palmer and Aaron Smith. The incentives advice was led by partner Sonia Gilbert who was assisted by Juliette Graham and Leon Kidd. The team also comprised Nicola Hemsley and Archie Zverev (Tax); Alastair Windass and Alistair Green (Employment); Faizal Khan and Rachel Robertson (Finance); Sophie Scholl (Antitrust); Mark Comber and Alex Gardinaru (TMT); Alex Walker and Molly Margiotta (IP); Melissa Jones (Real Estate); Rebecca Trapp (Pensions); and Carla Lewis and Jessica Arapu (Sanctions). Support on US corporate and insurance regulatory matters was provided by Joseph Cosentino and Eugene Benger.