June 30, 2008
The transaction will significantly expand Allied World’s U.S. operations.
On June 30, it was announced that Willkie client Allied World Assurance Company Holdings, Ltd has agreed to acquire Darwin Professional Underwriters, Inc. for approximately $550 million in cash. Darwin offers a wide array of specialty and primary professional lines coverages, which includes an industry leading health care professional liability franchise and a strong niche errors and omissions division. Darwin has also developed a business and technology model to underwrite small professional liability business, which is expected to complement Allied World's large account, specialty insurance and reinsurance strategy. Allied World, through its subsidiaries, is a global provider of insurance and reinsurance solutions, with offices in Bermuda, the United States and Europe. The transaction will significantly expand Allied World’s U.S. operations. The firm previously represented Allied World in its $563 million share repurchase from founding shareholder AIG and in its $300 million IPO, in addition to other financings. The current deal was handled by partners Steven Seidman, Leah Campbell, Henry Cohn, Jeffrey Hochman and David Rubinsky, and associates Matthew Rizzo, Sean Ewen, Carla Rothenberg, Peter Agnetti, Jason Ertel, Rebecca Gutner, and Kelly Straub, and summer associate Andrew Lloyd.
