Norton Rose advises Whittington on the sale of its UK business
29 September 2011
International legal practice Norton Rose LLP advised Singapore-based Whittington Group Pte Ltd on the sale of its UK operations. This significant step reflects the insurer’s focus on developing markets in Asia.
The entire issued share capital of Whittington Insurance Market Limited, which provides managing agency services to start-up and existing operations at Lloyd’s, was sold to a three-way consortium comprising UK specialist insurance firm Tawa, Norwegian marine insurer Skuld and Bermuda-domiciled Paraline. The transaction is subject to approval from both the FSA and Lloyd’s and should complete before the end of the year.
The Norton Rose LLP team was led in London by corporate partner David Whear, assisted by associates Matthew Foster and Kendra MacDonald, and trainees Poppy Pritchard and Clemens Kueppers. The team was supplemented with advice on tax from Andrew Rycroft and Ed Denny (associates), and IP from Victoria Hart (associate), with international support from corporate partner Daniel Yong and corporate associate Cai Si Wuan in Singapore.
Clyde and Co advised the consortium.
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