Jul 2025
Conyers advised Stone Point Capital LLC in its agreement relating to the sale of Northshore Holdings Ltd., a Bermuda exempted holding company that owns Atrium Underwriting Group Ltd.
Atrium is a premier specialty insurance and reinsurance business operating in the Lloyd’s of London market, being sold to the CRC Group by investment funds managed by Stone Point Capital LLC and other investors (the “Transaction”). The Transaction also involved the indirect transfer of the shares of Arden Reinsurance Company Ltd., a Bermuda exempted company licensed as a Class 3A insurer.
The Conyers insurance team led by Chiara Nannini and Lauren Pereira, advised on all aspects of Bermuda law and regulation relating to the sale and Bermuda regulatory approval process in connection with the change of shareholder controller of Arden Reinsurance Company Ltd.. In addition, Conyers advised in all aspects of a Bermuda “demerger” transaction to facilitation the Transaction.
Atrium is a premier underwriting business at Lloyd’s that manages Syndicate 609 and writes specialty insurance and reinsurance across property, casualty, and specialty business groups. Arden Reinsurance Company Ltd. operates primarily as a reinsurer to Atrium. Atrium generated $1.3 billion in gross written premium in 2024 and will continue to operate independently post-closing.