Argo Group to Sell Lloyd’s Reinsurance Business to Pelican Ventures and J.C. Flowers

Paul, Weiss is advising Argo Group International Holdings, Ltd. in the sale of its Lloyd’s of London reinsurance business, Ariel Re, to private equity investors Pelican Ventures and J.C. Flowers & Co. Argo Group is an underwriter of specialty insurance and reinsurance products in the property and casualty market. The transaction is expected to close in 2020, subject to regulatory approvals.

The Paul, Weiss team included, among others, corporate partner Adam Givertz; intellectual property partner Jonathan Ashtor and counsel Michael Kurzer; tax partner Scott Sontag; employee benefits counsel Lisa Krausz Eisenberg; real estate partner Salvatore Gogliormella; litigation counsel Steven Herzog and Peter Jaffe; and international trade counsel Richard Elliott.