Theodoulos Charalambous

Theo Charalambous counsels insurers, brokers and private equity sponsors on mergers and acquisitions, disposals, investments, reorganizations, alternative transaction structures and multijurisdictional regulatory matters.

Mr. Charalambous’ experience includes advising:

• Blackstone on:
  • the launch, with American International Group, Inc. (AIG) and Amwins, of Syndicate 2479 at Lloyd’s, a novel structure involving a specialty distributor, insurer and Lloyd’s syndicate backed with third-party capital
  • the establishment of Syndicate 2478, a reinsurance syndicate at Lloyd’s that will be a multiyear participant on AIG’s outwards reinsurance program. Syndicate 2478 will be supported by third-party capital from funds managed by Blackstone through the London Bridge 2 PCC structure and Blackstone will act as investment manager for syndicate assets
  • the launch with The Fidelis Partnership (TFP) of Syndicate 2126 at Lloyd’s, via London Bridge 2. The syndicate will write across a number of property, specialty and bespoke lines, including through the Pine Walk MGA platform and reinsurance of existing TFP group business
• former Ontario Teachers’ ILS specialist Philippe Trahan and former Blackstone insurance transaction specialist Daniel Miller on the establishment of Calidris Investment Partners, a Bermuda-based reinsurance opportunities-focused investment platform designed to be an institutional asset manager that will focus on strategic equity investments into sidecars, segregated cells and other collateralized reinsurance vehicles in partnership with leading P&C reinsurers and distributors
• Calidris Investment Partners, which is backed by Redbird Capital Partners, on its inaugural first insurance sidecar transaction, valued at over US$550 million, whereby Calidris Investment Partners served as lead investor in the launch of George Street Re, a casualty reinsurance sidecar sponsored by global insurer QBE
• Radian Group Inc. on its primarily all-cash US$1.7 billion acquisition of Inigo Limited
• Sompo International Holdings Ltd. on its US$3.5 billion merger with Aspen Insurance Holdings Limited and sale of Lloyd’s Syndicate 5151 business to Riverstone
• OAK Global on the establishment of private equity-backed Syndicate 2843 at Lloyd’s, which operates under the strategic business unit OAK Reinsurance, and the establishment of private equity-backed Syndicate 1440 at Lloyd’s
• Markel Group Inc. on the sale of the renewal rights for its global reinsurance business to Nationwide
• Triangle Life Insurance Co Ltd. (Bermuda) in connection with its launch capital raise
• Optio Group Limited (United Kingdom), a portfolio company of Preservation Capital Partners Limited, on its acquisitions of Circles Group. S.A. (Luxembourg) and Den Hartigh Beheer & Exploitatie B.V.  
• InEvo Re (established by Macquarie Asset Management) on its first pension risk transfer life reinsurance transaction
• Pollen Street and Markerstudy in the agreed upon acquisition of Collingwood
• Corebridge Financial, Inc. on the £460 million sale of its U.K. life insurance business to Aviva plc
• Intact Financial Corporation and its subsidiary Royal & Sun Alliance Insurance Limited on their US$648 million acquisition of the brokered commercial lines operations of Direct Line Insurance Group plc
• Willis Towers Watson on its US$4 billion sale of Willis Re to A. J. Gallagher
• Argo Group International on the US$125 million sale of Argo Underwriting Agency and Lloyd’s Syndicate 1200 to Westfield Insurance