Nexus Announces the Acquisition of Altitude Risk Partners

TigerRisk Capital Markets & Advisory acted as exclusive financial advisor to the owners of ARP

Transaction Overview

On 09/07/18, Nexus Underwriting (“Nexus”) announced the acquisition of Altitude Risk Partners (“ARP”)

  • Acquired from an investor group including Castel Underwriting Agencies (“Castel”) and management

ARP will become a trading division of Nexus Underwriting

  • The current management of Altitude will become shareholders in the Nexus Group

ARP is a UK-based MGA providing aviation and space insurance solutions to companies globally

  • Formed in 2014 by David Godley, Richard Power and Tim Wright, in partnership with Castel
  • Underwrites a diverse portfolio across seven lines of aerospace insurance in more than 130 territories
  • Since inception, ARP has gained a meaningful market share in the aerospace insurance industry

Formed in 2014, Castel is a club-style MGA platform

  • Focused on helping underwriters set up their own underwriting businesses
  • Provides start-up capital, operational support and assistance in sourcing capacity
  • Majority owned by Carlson Capital-owned Barbican Insurance Group

Founded in 2008, Nexus is a leading London-based specialty MGA

  • Focused on underwriting niche classes of business
  • Employs ~220 people across offices in Europe, Asia and the U.S.

TigerRisk Capital Markets & Advisory Role

TCMA acted as exclusive financial advisor to the owners of ARP; key TCMA responsibilities included:

  • Assistance in valuation analysis
  • Identification of potential acquirors
  • Leading a focused auction process
  • Assistance to Castel and Partners in negotiation of final transaction terms and conditions
  • Providing objective advice and acting as a sounding board to the sellers throughout the process