RPC advises Africa Specialty Risks on the strategic investment by Vitruvian Partners

International law firm RPC has advised developing markets-focused (re)insurance group Africa Specialty Risks (ASR) on its announced agreement for strategic investment by Vitruvian Partners. 

The deal will see ASR continue its mission to be the reinsurance platform of choice for developing markets by providing additional new speciality lines and solutions, access to global A-rated capacity, advanced technology capabilities, expanded underwriting at Lloyd's, and geographic expansion outside of Africa and the Middle East.

The RPC team was led by Partner and Head of Corporate Insurance James Mee, alongside Competition Partner Tom McQuail, Tax and Incentives Partner Ben Roberts and Corporate Insurance Partner William Hogarth, supported by Corporate Senior Associates Richard Wilson and Lauren Murphy, and Corporate Insurance Associates Ribhu Mukherjee and Ali Chowdhry. 

Commenting on the transaction, James Mee said: "Huge congratulations to the Africa Specialty Risks, Helios Partners and Vitruvian Partners teams. It is always a pleasure to work with such dynamic people, and a great privilege to be trusted by Mikir Shah and colleagues Ciaran O'Donnell, Caroline Hilton and Ilyas Ismail in the leadership team. The team, and all at ASR, have achieved terrific growth. We've been honoured to support ASR in its mission of enabling sustainable economic development since their launch in Lloyd's a few years ago. We look forward to seeing the business continue that critical mission and to achieve great things."

Mikir Shah, Chief Executive Officer at Africa Specialty Risks, said: "Today, we are pleased to announce the Agreement for Strategic Investment by Vitruvian Partners. This is an important milestone for Africa Specialty Risks as the leading developing market focussed (re)insurance platform and as a leader at de-risking investment into Africa. We've worked with James and his colleagues for a number of years and thank them for their support, counsel and deal structuring and execution capabilities. Knowing us, the Lloyd's market, and transactions as they do enables us to partner most effectively."

Client announcement: ASR Announces Agreement for Strategic Investment by Vitruvian Partners