A Locke Lord team led by Geoffrey Etherington provided counsel to National General Holdings Corp. in the acquisition of Century-National Insurance Company, a California-based property and casualty underwriter, for approximately $318 million, including an upfront cash payment of $140 million with the remaining balance deferred over two years. According to the press release, the deal will expand National General’s standard and preferred products in both homeowners and personal auto and improve bundled products offerings. The transaction closed in June 2016. The Locke Lord team also included Julie Mahaney (Insurance), Lori Basilico (Employee Benefits), Joseph Farside (Antitrust), Christopher Flanagan (Tax), Zachary Lerner (Insurance).
Posted June 3, 2016