DEAL NOTE: Crowell & Moring Advises Perfuturo Insurance AG on Acquisition of Argo Group’s Italian Insurance Business

London – December 29, 2020: Crowell & Moring’s London office advised Perfuturo Insurance AG on its acquisition of Argo Group’s Italian operations, ArgoGlobal Assicurazioni S.p.A. The acquisition is subject to regulatory approvals, which are expected to be obtained in the first quarter of 2021. A joint team from the firm’s London corporate and insurance practices advised Perfuturo on the acquisition, which involved a Sale & Purchase Agreement that was subject to English law and jurisdiction. Perfuturo intends to use its EU-licensed insurer to underwrite the business and liability exposures of new technologies, particularly in the energy and food industries.

“Perfuturo is excited to be investing in AGA and bringing on board talented professionals with unparalleled insurance market expertise and knowledge of the Italian market,” said Perfuturo’s Chief Executive Office Stephan Kochem. “With the financial strength and European experience of our group, we will pursue our ambition of building a world-class insurance business in Italy.”

The Crowell & Moring lawyers involved were partner Simon Evers (corporate and regulatory), partner Mark Meyer (insurance and reinsurance), and corporate associate Amanda Kwagala.