Global law firm Ashurst advised Pinnacle Underwriting, its group entities and shareholders on a majority sale to global insurance company United Risk Global, LLC. Ashurst led the corporate and legal negotiations, assisted with a multi-stage corporate restructure—including providing tax and structuring advice—and managed a simultaneous signing and completion process over three days across multiple jurisdictions.
Pinnacle Underwriting is a facultative reinsurance managing general agent (MGA), established in 2019 and headquartered in Sydney, with offices in Melbourne, Singapore, and Dubai. The company manages reinsurance businesses, with 70% of its business originating in the Asia-Pacific region and the remainder primarily in the Middle East and North Africa. United Risk is an international property and casualty insurance underwriting and distribution platform independently owned and operated by its practice partners and affiliated with Applied Underwriters operationally.
The sale was the culmination of a competitive sale process involving entities in Australia, Singapore and Dubai. As a result of the transaction, United Risk has become one of the world’s five largest MGAs.
The Ashurst team was led by partners Rehana Box and John Brewster, who was assisted by: senior associates Alex Garfinkel, Scott Colvin and Zach McLoughlin and associates Nikki Doan, Nelson Wade and Aalishna Alag (Corporate Transactions); and partner Ian Kellock and associate Hayley Young (Tax).
