Slaughter and May is advising White Mountains on its investment in Ark Insurance Holdings

Slaughter and May is advising White Mountains Insurance Group, Ltd on its investment of fresh capital and acquisition of a majority interest in Ark Insurance Holdings Ltd, the ultimate parent company of Ark Syndicate Management Limited. Ark manages the underwriting of syndicates 4020 and 3092 at Lloyd’s.

White Mountains will contribute $605 million of equity capital to Ark and will also purchase around $41 million of shares from existing shareholders. White Mountains will also commit to contribute up to an additional $200 million of equity capital to Ark in 2021. The remaining shares in Ark will be owned by its management shareholders. The transaction is expected to complete in January 2021.