M&A Deal Summary

Cornell Capital and Hudson Structured Capital Management Acquire Vault

On November 12, 2020, private equity firm Cornell Capital and asset manager Hudson Structured Capital Management acquired insurance company Vault from Allied World Assurance Company Holdings AG

Acquisition Highlights
  • This is Cornell Capital’s 2nd and Hudson Structured Capital Management’s 1st transaction in the Insurance sector.
  • This is Cornell Capital’s 9th and Hudson Structured Capital Management’s 1st transaction in the United States.
  • This is Cornell Capital’s 1st and Hudson Structured Capital Management’s 1st transaction in Florida.

M&A Deal Summary
Date 2020-11-12
Target Vault
Sector Insurance
Buyer(s) Cornell Capital
Hudson Structured Capital Management
Sellers(s) Allied World Assurance Company Holdings AG
Deal Type Divestiture
Advisor(s) TigerRisk Capital Markets & Advisory (Financial)

Target

Vault

St. Petersburg, Florida, United States
Vault is a provider of personal insurance for successful individuals and families, committed to delivering an unrivaled customer experience where every detail and every interaction is thoughtful and unique. Vault's proactive approach builds stronger relationships, allowing customers the luxury of feeling taken care of before a claim ever happens. Vault is based in St. Petersburg, Florida.

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Buyer(S) 2

Buyer

Cornell Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cornell Capital is a private investment firm that seeks to partner with strong management teams to build businesses. Cornell Capital does not have any sector preferences and focuses on opportunities across the US. Cornell Capital was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 11 of 17
Sector (Insurance) 2 of 2
Type (Divestiture) 3 of 3
State (Florida) 1 of 2
Country (United States) 9 of 14
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-17 Lorom

Taipei, Taiwan

Lorom is a manufacturing solutions provider focusing on specialized cable manufacturing and assembly. In addition to its core cable technologies, Lorom also offers plastic injection, stamping, die-casting, printed circuit board assembly, and tooling processes, and possesses customized component design and manufacturing capabilities. Lorom was founded in 1988 and is based in Taipei, Taiwan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-20 Talcott Resolution

Windsor, Connecticut, United States

Talcott Resolution is an insurance company with capabilities including extensive life insurance and annuity product knowledge and rigorous risk and liability management. Talcott's primary blocks of business are variable annuities, fixed annuities, structured settlements, and corporate-owned life insurance. Talcott Resolution is based in Windsor, Connecticut.

Sell $2.3B
Buyer

Hudson Structured Capital Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2016
PE ASSETS 2.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Hudson Structured Capital Management (HSCM) is an asset manager focused on investments in the re/insurance and transportation sectors. Within transportation, HSCM has a special interest in aircraft finance and within re/insurance, the Firm looks to back a variety of insurance products and instruments. Hudson Structured Capital Management was founded in 2016 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 1

SELLER

Allied World Assurance Company Holdings AG

Zug, Switzerland
Category Company
Founded 2001
Sector Insurance
Employees1,433
Revenue 2.7B USD (2016)
DESCRIPTION

Allied World Assurance Company Holdings is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 RSA Hong Kong

Hong Kong, China

RSA Hong Kong Limited operates as a general insurance company that provides personal and commercial insurance solutions in Hong Kong.

Buy -
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