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Small Q1 deals push TigerRisk to top of insurance M&A league tables


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Small Q1 deals push TigerRisk to top of insurance M&A league tables

One deal was enough to propel TigerRisk Partners LLC to the top of the first-quarter league tables for financial advisers who worked on insurance underwriter M&A.

TigerRisk advised Markel Corp. on its pending deal to buy SureTec Financial Corp. in a $250 million transaction announced in February. Sidley Austen LLP and Locke Lord LLP provided legal counsel, which helped them finish in a tie for first in the deal value rankings for legal advisers.

Compared with the first quarter of 2016, which was lackluster in terms of insurance deal activity, 2017 has had an even slower start. The lack of deals in the first quarter reflects the atmosphere of political and economic uncertainty that the year has brought, according to a report by Clyde & Co, a global law firm focusing on the insurance sector.

Sandler O'Neill & Partners LP ranked second on the first-quarter insurance underwriter M&A deal value league table for financial advisers after ranking No. 22 in 2016. In the first quarter, Sandler O'Neill advised on Enstar Group Ltd.'s pending $120 million sale of Pavonia Holdings (US) Inc. to Global Bankers Insurance Group.

In the insurance brokerage M&A deal value league table, Morgan Stanley and PricewaterhouseCoopers LLP tied for first in the first quarter thanks to their work on one deal, the $150 million sale of GTI Holdings Corp. to Assurant Inc.

Sica Fletcher LLC topped the number-of-deals league table with advisory roles on 20 insurance brokerage transactions. Marsh Berry & Co. Inc., often the leader in the number-of-deals league table, ranked second through the first quarter with 14 transactions.

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