Dale received advisory support from Macquarie Capital and Norton Rose Fulbright throughout the transaction, while CVC enlisted the expertise of Howden Tiger Capital Markets & Advisory, Aon Capital Advisory, Aon’s Strategy and Technology Group, EY, Weil, and Bryan Cave Leighton Paisner for strategic counsel and guidance.
The completion of the transaction comes on the heels of approvals from both the Prudential Regulation Authority (PRA) and Lloyd’s, marking a key milestone for Dale Underwriting Partners.
CVC, boasts an impressive €177 billion in assets under management as of September 2023, has positioned itself as a formidable player in the global financial landscape. Dale Underwriting Partners, known for underwriting across six core classes, is set to benefit from CVC’s substantial investment, which aims to propel business growth and secure a majority stake in the company. The infusion of funds will not only replace existing third-party capital providers for Dale but will also serve as a catalyst for expanding its operations.
The establishment of a new Group Board is a notable outcome of this strategic partnership, with Preben Prebensen stepping into the role of independent non-executive Chair. This collaboration is poised to reshape the trajectory of Dale Underwriting Partners, combining expertise and resources for a future marked by growth and success.
Duncan Dale, Founder and Chief Executive, Dale, commented on the partnership, saying, “We are delighted to receive regulatory approval before the end of the year and look forward to executing our plans. Dale now enters its 10-year anniversary, and we look ahead to developing our partnership with CVC and continuing to build a leading Lloyd’s business.”
Martin Iacoponi, Managing Director, CVC, added, “We are very pleased to receive approval and look forward to supporting Dale with CVC funds’ capital and our experience to help them grow and develop further.”
