Global law firm Norton Rose Fulbright has advised Marsh & McLennan Companies Inc (MMC) on its sale of GCube Underwriting Limited and certain of its related companies (together GCube) to Tokio Marine HCC.
GCube is a managing general agent and one of the world’s leading underwriters of renewable energy, covering wind, solar, bio, hydro, wave and tidal projects. The business writes global property and liability cover for renewable energy construction and operational risks in 40 countries around the world. GCube is based in London with additional offices in Amsterdam, New York and Newport Beach, California. The sale is subject to regulatory approval and customary closing conditions and is expected to close in Q2 2020.
The Norton Rose Fulbright team which advised on the sale of GCube was led by London-based corporate insurance partner Matt Foster, assisted by Matthew O’Shea and Nikesh Arya. Partner David Whear provided additional advice on Lloyd’s of London matters. Partner David Barrett and senior associate Ryan Waggoner in New York provided US support on corporate matters and senior counsel Carey Child in Washington advised on US regulatory matters. Partner Dominic Stuttaford and associate Greg Branagan in London and New York-based partner Michael Flamenbaum advised on tax-related matters.
Norton Rose Fulbright’s global team of insurance lawyers advises many of the world’s leading insurers and reinsurers on their most significant corporate, regulatory and transactional matters.