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6 June 2008 - Leading international law firm Mayer Brown advised specialist insurance fund manager Audley Gilroy Insurance Capital Management (AGICM Limited) and Audley Gilroy Insurance Opportunities Fund L.P. (AGIOF) on the acquisition of SLI Holdings Limited and its subsidiary The Scottish Lion Insurance Company Limited from Hong Kong-based China Merchants Group.

AGICM was established in order to become one of the largest acquirers of portfolios and companies in the non-life closed-book insurance business. Directors of AGICM include Caspar Gilroy, Robert Hiscox and the financier Nicholas Berry.

Richard Page, partner at Mayer Brown said: "This is the latest deal we have successfully closed for Audley Gilroy Insurance Capital Management, demonstrating both our depth of knowledge of the insurance industry, and our strong transaction capabilities in that sector - within the run-off and closed-book space in particular. This compliments the firm's widely recognised expertise in providing claims, regulatory and general legal advice and support to our insurance sector clients."

On a deal that successfully closed within a demanding timetable, Mayer Brown advised on the corporate, employment and financial regulatory aspects of the transaction.

The Mayer Brown team was lead by corporate partner Richard Page, supported by corporate partner Jonathan Crawford, Wendy Allen-Rodney and corporate associates Stewart McKechnie and Ben Farrow.

Mayer Brown has worked with AGICM and Mr Gilroy on a number of successful acquisitions in the sector, including the acquisition of Minster Insurance Group from French insurer Groupama in 2007.

For further information:
Charlotte Ward
PR Manager, London
+44 20 7782 8547

Richard Page
Partner, London
+44 20 7782 8787