Drinker Biddle’s Corporate and Securities Practice Group represented Wellington Insurance Group in a transaction involving the sale of a majority ownership interest to Aquiline Capital Partners. Key members of the Wellington management team will be rolling over a portion of their equity investment and will continue to operate the business going forward.
Wellington is a Texas-based risk distribution business specializing in the delivery and administration of residential property insurance. Wellington operates a managing general agent (MGA), along with claims servicing and premium finance subsidiaries.
Aquiline is a private equity investment firm based in New York and has made several investments in the insurance sector.
The Drinker Biddle team included partners Bob Juelke and Tom Gray and associate Rebecca Kraut, with assistance from Daniel Krane, Michael Byrne, Robin Sampson, Pete Lively and Parimah Hassouri.
More information can be found in Aquiline’s press release about the deal.