Hogan Lovells has advised Qatar Insurance Company (QIC) on its acquisition of Antares Holdings, a Lloyd’s specialist insurer and reinsurer with a particular focus on property, casualty, marine and aviation underwriting. The transaction was signed on 13 February.
QIC is a publicly listed insurer with a market capitalisation in excess of $2.9bn (£1.7bn) and an underwriting footprint across the Middle East, Africa and Asia. QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA regions.
The acquisition will provide QIC with access to Lloyd’s through Syndicate 1274 and Antares’ own integrated managing agency, as well as bringing a Bermudian platform with a Class 3 reinsurance licence. The transaction is subject to UK, Bermudian and Qatari regulatory approvals.
The Hogan Lovells team advising QIC was led by London corporate senior associate John Connell, supported by corporate partners Charles Rix and Steven McEwan and a cross-practice London team.