London — Mayer Brown has advised Flexpoint Ford (‘Flexpoint’), a private equity firm with significant experience investing in the insurance sector, on its investment in the UK’s first regulated and UK capitalised hybrid fronting insurance carrier.
Bridgehaven Specialty UK Ltd obtained authorization from the UK Prudential Regulation Authority early in July 2023 and will target commercial and specialty lines business with the aim of encouraging collaboration between Managing General Agents and reinsurance capital and replicating the success of the hybrid carrier model in the US. Flexpoint’s investment will provide the capital and strategic advice needed to build a recognized provider in the UK insurance market.
In addition to structuring the deal for Flexpoint’s investment, Mayer Brown advised on all regulatory requirements for the arrangement.
The Mayer Brown team was led by Corporate & Securities partners Colin Scagell (London) and Joe Castelluccio (New York), and included partner James West, senior associates Christian Higham and Daniel Williams, associate Pia Hutchinson, and Employment & Benefits partner Miriam Bruce (all London).