BLP advise on Clal Insurance disposal
International law firm Berwin Leighton Paisner (BLP) has advised Clal Insurance on the sale of its Lloyd’s Syndicate 1301 and corporate members, Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited, to Torus Insurance Holdings.
Broadgate specialises in a range of niche short tail business across several product lines, including accident and health, property direct and facultative, property treaty, specie, property schemes and bloodstock.
The lead partner on the transaction, Adam Bogdanor, said: “We are very pleased to be advising Clal on this disposal. The BLP team and the Clal team worked very closely together and it was a great example of BLP’s approach to working in partnership with clients in order to get deals done. This is the latest in a number of transactions on the Lloyd’s market on which we have acted”.
The BLP team included corporate finance partner Adam Bogdanor, senior associate Michael Jadeja, and associate Sujal Patel, while partners Gary Richards and Richard Harbot advised on the aspects relating to tax.
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