Two insurance deals structured by Clifford Chance receive top industry awards

NEW YORK, Sept. 30, 2014 /PRNewswire/ -- Two standout deals on which Clifford Chance advised earned awards at Reactions magazine's prestigious 2014 North America Awards ceremony on September 23. Jardine Lloyd Thompson Group's purchase of Towers Watson's reinsurance brokerage business was chosen as the 'M&A Insurance Deal of the Year' while Watford Re — a first-of-its-kind hedge fund reinsurance vehicle — was awarded 'Best New Launch of the Year' and 'Best Capital Raise of the Year' honors.

Reactions magazine is a leading global re/insurance publication that provides breaking news, specialist insight and detailed analysis. Its annual awards recognize the individuals, companies and transactions that had the biggest effect on the industry over the past year.

New York Corporate partner Gary Boss led the 12-office cross-border team that directed the innovative structure for Watford Re, which successfully completed a US$1.13 billion capital raise in March 2014. Watford Re is unique among alternative asset reinsurers, employing several structural innovations to create a diversified multi-line reinsurance business that combines the strong base of an existing global reinsurer with the investment management and strategy expertise of an established institutional investor.

Boss teamed with fellow corporate partners Hilary Evenett (London) and Joe Cosentino (New York) to lead Jardine Lloyd Thompson Group plc on its US$250 million acquisition of the Towers Watson reinsurance brokerage business. The acquisition, which utilized Clifford Chance lawyers across 15 offices worldwide, created an international reinsurance company with combined revenues of more than US$260m and over 700 employees in 17 countries globally.

"We extend our sincere congratulations to both JLT and Watford Re on these well-deserved awards," said Boss. "These transactions are excellent examples of the unmatched proficiency and sophistication Clifford Chance can bring to insurance-related matters, and we are extremely grateful for the opportunity to have worked alongside our clients on these transactions."

Clifford Chance is a recognized leader in the global insurance sector, advising industry clients around the world on complex transactions, disputes, financing, regulatory and commercial matters. The only insurance practice to receive a Band 1 ranking from Chambers Global, Clifford Chance's international team of over 200 fee-earners offers preeminent domestic and cross-border advice across the global life, property and casualty, and general and reinsurance market segments, and leverages the Firm's extensive network to provide the world's leading insurers and reinsurers with unmatched service and expertise.

For further information about Clifford Chance see www.cliffordchance.com

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SOURCE Clifford Chance LLP