Goldberg Segalla Insurance Regulatory Team Helps Mitsui Sumitomo Close $350 Million Cross-Border Insurtech Acquisition
Goldberg Segalla’s Insurance Regulatory team played a critical role in closing one of the largest cross-border insurance transactions of 2020.
Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc., recently purchased a minority stake in Hippo Enterprises, injecting the Palo Alto, CA-based insurtech startup with $350 million, fueling a rollout that the high-growth company hopes will push its product into 95 percent of U.S. households.
Baker McKenzie, representing Mitsui Sumitomo as corporate and transactional counsel on the acquisition, tapped Goldberg Segalla’s Global Insurance Services practice to serve as cross-border regulatory counsel. Starting in October, the GIS Insurance Regulatory group assembled a team with the requisite international regulatory capabilities, Japanese and U.S. market knowledge, and high-value transactional experience: Jeffrey L. Kingsley, Colleen M. Murphy, Sarah J. Delaney, Laura A. Colca, Courtney H. Zucker, and Alexandra S. Balmer.
Working closely with the client and transactional counsel, the Goldberg Segalla team was able to help close the deal on a tight deadline, making business and insurance world headlines before the Thanksgiving holiday.
MORE ABOUT GOLDBERG SEGALLA’S INSURANCE REGULATORY PRACTICE:
Goldberg Segalla’s Insurance Regulatory practice is positioned to handle any domestic or international insurance and reinsurance regulatory issue or transaction. Our extensive experience in insurance corporate and regulatory matters—from property-casualty to life, accident, and health and annuities—includes inbound public and private insurance company mergers and acquisitions and other transactions. Our team brings the exceptional ability to bridge international gaps, thanks to our deep market knowledge and experience serving clients in the U.S., Europe, Asia, Latin America, Bermuda, and other key markets.
As widely recognized thought leaders in the global insurance and reinsurance arena, we regularly advise on emerging trends, legal issues, and the activities of state and federal insurance regulators, the National Association of Insurance Commissioners (NAIC), surplus lines stamping offices, the International Association of Insurance Supervisors (IAIS), and other bodies that shape insurance regulatory policies, including Lloyd’s of London.
To learn more, contact Jeffrey L. Kingsley.