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 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
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
Category Company
Founded 2007
Sector Insurance
DESCRIPTION

Armour Group 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. Armour Group was founded in 2007 and is based in Hamilton, Bermuda.

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