Liberty Mutual Holding Co. Inc. is selling London-based Pembroke Managing Agency Ltd., Dublin-based Ironshore Europe DAC and Dubai-based Visionary Underwriters to Hamilton Insurance Group.

For Hamilton, the deal will almost double its total premium base. Under the deal, Hamilton will be responsible for the 2019 year of account for Lloyd's of London Syndicate 4000, and Liberty will retain the corporate member for prior years.

Liberty Mutual said the sale supports its international specialty business by eliminating the multiple Lloyd's syndicates and business overlap that resulted from its acquisition of Ironshore Inc. in May 2017. Liberty Specialty Markets will continue to serve Lloyd's of London through Syndicate 4472

The deal is subject to regulatory approval and is expected to close later in 2019.

Evercore acted as financial adviser and Skadden Arps Slate Meagher & Flom LLP acted as legal adviser to Liberty Mutual. TigerRisk Capital Markets & Advisory served as financial adviser and Debevoise & Plimpton LLP served as legal adviser to Hamilton.