Popular search terms
Click each term for related articles
Global law firm Clyde & Co has advised Arch Worldwide Reinsurance Group (Arch Re) on its acquisition of a majority stake in data-driven marketing and distribution solutions provider, Precision Marketing Asia Pacific (PMAP) which completed on 1 July 2020 and positions Arch Re to expand across the Asia-Pacific region.
Clyde & Co advised Arch Re on the acquisition, with the team led by partner, Dean Carrigan. Arch Re was also supported by financial advisers, KPMG.
PMAP, headquartered in Australia, provides data-driven marketing and distribution solutions to banks, insurance companies, retail groups and affinity partners across the Asia-Pacific region, with current operations in Japan and Indonesia. The acquisition by Arch provides PMAP with corporate backing and capital support to continue its expansion in the Asia-Pacific region, and gives Arch Re increased distribution opportunities for life, accident and health products in the Asia-Pacific region.
Thomas Keel, Vice President Life (Asia Pacific) at Arch Re and an incoming director of PMAP, says "The Arch team is extremely grateful to the members of Clyde & Co that assisted us with the acquisition. They went beyond the call of duty, making themselves available as required at all times of the day and over an extended period of time and providing us with the flexibility of approach needed to close to the transaction on time despite the challenges of dealing with lockdowns. We were very impressed with their technical expertise and how they applied it appropriately to a relatively complex negotiation. Their personable approach was even appreciated by the team we were acquiring."
Dean Carrigan, Partner at Clyde & Co, says: "The investment by Arch shows that, even in these turbulent times, there continues to be opportunities for market participants to find creative synergies to expand their global footprint. Clyde & Co looks forward to continuing to provide ongoing assistance to Arch globally in their strategy of pursuing diverse specialty markets."
Dean Carrigan was assisted on the transaction by Johann Spies, Special Counsel, Mandi Xu, Special Counsel, and Yvonne Lam, Senior Associate.