M&A Deal Summary

Premia Acquires Armour

On February 22, 2021, Premia acquired insurance company Armour from Armour Group

Acquisition Highlights
  • This is Premia’s 2nd transaction in the Insurance sector.
  • This is Premia’s 1st transaction in Bermuda.

M&A Deal Summary
Date 2021-02-22
Target Armour
Sector Insurance
Buyer(s) Premia
Sellers(s) Armour Group
Deal Type Divestiture
Advisor(s) TigerRisk Partner LLC (TigerRisk Capital Markets & Advisory) (Financial)
Clifford Chance
DLA Piper (Legal)

Target

Armour

Hamilton, Bermuda
Armour is a Bermuda-based P&C legacy reinsurer that provides effective solutions for global insurance and reinsurance companies. Armour is based in Hamilton, Bermuda.

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Buyer(S) 1

Buyer

Premia

Hamilton, Bermuda

website

Category Company
Founded 2017
Sector Insurance
DESCRIPTION

Premia is a reinsurance group with operations in Bermuda, the U.S., and Europe that is focused on sourcing, structuring, and servicing run-off businesses. Premia was founded in 2017 and is based in Hamilton, Bermuda.

DEAL STATS #
Overall 2 of 3
Sector (Insurance) 2 of 3
Type (Divestiture) 1 of 2
Country (Bermuda) 1 of 2
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-10 Public Service Insurance

Illinois, United States

Public Service Insurance Co. is a provider of insurance services. Public Service Insurance is based in Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-05 Premia Holdings NV

Hamilton, Bermuda

Premia Holdings (Europe) is a provider of customized wholesale and reinsurance solutions with a goal to protect businesses everywhere from the complex risks they face. The company provides America’s leading wholesale brokers with creative solutions that address their most complex and hard-to-place risks. It also offers specialty and niche reinsurance for property and casualty insurers via Navigators Re, global specialty reinsurance business.

Buy -

Seller(S) 1

SELLER

Armour Group

Hamilton, Bermuda

website

Category Company
Sector Insurance
DESCRIPTION

Armour Group Ltd. engages in the property and casualty (“P&C”) run-off insurance industry. Armour is a group consisting of licensed (re)insurers and service companies that acquire discontinued portfolios from insurers who are looking to free up capital and claims management resources.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
Country (Bermuda) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 Elite Insurance Company

Grantham Lincolnshire, United Kingdom

Elite Insurance Company Ltd. is a provider of financial and legal insurance products and litigation services. Elite Insurance Company was founded in 2004 and is based in Grantham Lincolnshire, United Kingdom.

Buy -
Mergr

Product

Company

Legal