Law firm Stephenson Harwood LLP has advised the management of BGC Partners’ insurance broking operations, on its sale to The Ardonagh Group for headline cash consideration of US$500 million.
The acquisition of the insurance division, which includes the Ed Broking and Besso businesses, will create the largest independent specialty and wholesale broking business in London.
The Stephenson Harwood team was led by partner Sam Gray and senior associate Emily Davies, supported by partners Paul Reeves (employment) and Barbara Allen (incentives), senior associates Kate Worthington (tax) and Richard Freedman (employment), and associate Lydia Zakrzewski (corporate).