Apollo Announces Partnership with Pelican Ventures and J.C. Flowers

Transaction Overview

Apollo Syndicate Management (“Apollo”) announces operational partnership with Pelican Ventures (“Pelican”) and J.C. Flowers & Co. (“JCF”) to grow Apollo-managed SPA(a) 6133

Pelican and JCF to provide additional capital, operational support and distribution for SPA 6133

  • Apollo to continue to act as the managing agency to the SPA

Apollo, founded in 2009, is an independent specialist insurer and reinsurer with a team of talented and experienced professionals across a number of specialty lines

  • Offers adaptable underwriting services at Lloyd’s and leads a number of London market consortia
  • Total managed stamp capacity across three syndicates of ~£475mm for the 2021 Year of Account
    • Syndicate 1969, Sharing Economy SPA 1971 and SPA 6133
  • SPA 6133 launched in 2018, taking a 90% quota share of Syndicate 1969’s property treaty portfolio
    • ~£65mm stamp capacity for the 2021 Year of Account

Pelican is a private investment fund with a sole focus on the insurance industry

  • Formed by industry veteran Jim Stanard, founder and former Chairman and CEO of RenaissanceRe

JCF is a private investment firm dedicated to investing globally in the financial services industry

  • Founded in 1998, the firm has invested more than $16bn of capital across 56 portfolio companies

Transaction is subject to customary closing conditions including regulatory approvals

TigerRisk Capital Markets & Advisory Role

TCMA is acting as exclusive financial advisor to Apollo

  • Assessing strategic options for Apollo
  • Introducing Apollo to Pelican and JCF
  • Assisting with financial modeling, valuation and returns analysis
  • Assisting in the development of key marketing materials and presentations
  • Managing an organized and efficient due diligence process
  • Assisting in the negotiation of final transaction terms and conditions
  • Providing objective advice and acting as a confidant to Apollo throughout the process