GC Securities* Serves as Financial Advisor to Tower Group, Inc. on Tower’s USD75 million Investment in Canopius Group Limited
GC Securities, a division of MMC Securities (Europe) Limited, acted as financial advisor to Tower Group, Inc. (”Tower”) on its USD75 million investment into Canopius Group Limited, (”Canopius”) a privately owned Lloyd’s of London insurance holding company domiciled in Guernsey, Channel Islands.
Tower President and CEO, Michael Lee, commented, “This investment in Canopius and the commensurate rights are strategically important to us. This will assist in our goals of establishing a presence at Lloyd’s and expand our operations in Bermuda. The advice and guidance provided by GC Securities during this transaction was insightful and professional, a welcome addition to our broking relationship with Guy Carpenter. We look forward to developing this trusted relationship further.”
Commenting on the transaction, Vice Chairman of International Operations at Guy Carpenter, Vicky Carter, noted, “It was a privilege to be able to work closely with Michael and his team at Tower to identify, negotiate and conclude this transaction. We believe our ability to deliver financial advisory services through our GC Securities platform is a meaningful asset to our clients and our organisation. The ability to leverage the intellectual capital of the entire Guy Carpenter broking and advisory platforms uniquely positions us to assist our clients as the (re)insurance landscape continues to evolve.”
*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd., which is authorized and regulated by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product. **GC Analytics is a registered mark with the U.S. Patent and Trademark Office.