Slaughter and May advised MCI Holdco (UK) Limited (MCI) on the acquisition of Medical & Commercial International Limited from the club-style MGA formation platform Castel Underwriting Agencies Limited (Castel), part of Arch Insurance International, by way of management buy-out.
MCI, a specialised casualty underwriting business, launched on the Castel MGA platform in 2015. Today it writes over $50m of annual gross written premium across its main classes: Life Sciences (including clinical trials), Health Sciences (including medical malpractice) and International General Liability. Following completion of the transaction, MCI is majority owned and controlled by its management team, led by chief executive Philip Trafford.
Slaughter and May advised on all aspects of the transaction, including the purchase, equity investment and acquisition financing facility.