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28 Nov 2025

Norton Rose Fulbright Advises Aquiline on Majority Investment in Clearwater Underwriting

"Norton Rose Fulbright advised private investment firm Aquiline Capital Partners on its majority investment in Clearwater Underwriting, a London-based marine insurance managing general agent. The multi-jurisdictional Norton Rose Fulbright team handled corporate, tax, intellectual property and employment matters for the transaction."

Norton Rose Fulbright advised private investment firm Aquiline Capital Partners on its majority investment in Clearwater Underwriting. The transaction involved Aquiline acquiring a majority stake in Clearwater Underwriting, a London-based managing general agent founded in 2024 that delivers underwriting services and broker and client support in the marine sector. Clearwater Underwriting leverages the Clearwater Dynamics software platform together with its market expertise to underwrite and service marine risks. Aquiline is a private investment firm that partners with businesses offering solutions to the financial services industry, investing in growth-oriented financial services and technology companies through private equity, credit and other strategic capital solutions. The deal reflects continued investor interest in innovative MGAs and the cross-border nature of transactions in the private equity and insurance sectors. Norton Rose Fulbright has acted for Aquiline on other matters, including advising on earlier transactions involving IQUW. Norton Rose Fulbright represented Aquiline Capital Partners with a team composed by: partners Nicholas Berry (corporate – insurance) and Sophie O Connor (corporate – private equity), who led the multi-jurisdictional team; London-based partners Matthew Findley (tax), Mike Knapper (intellectual property) and Dominic Stuttaford (tax); counsel Lai Lynn Choong (intellectual property) and Nick Howard (employment); senior associates Sofia Casselbrant (tax) and Barbara Gaffey (tax); and associates Emma Borch (corporate), Hobz De Caux (corporate), Sebastian Ferguson (corporate), Angelina Lim-Jordan (corporate) and Polina Maloshchinskaia (intellectual property). Additional support was provided by Munich-based partner Bernd Dreier (corporate – private equity) and Hamburg-based associate Sebastian Sievers (corporate).
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