Atrium's Strategic Acquisition by CRC Group Signals New Growth Phase
Deal News | Jul 07, 2025 | Stone Point Capital LLC
Atrium Underwriting Group Ltd. has entered a definitive agreement for acquisition by CRC Group, a leader in independent wholesale specialty insurance distribution. The deal involves Stone Point Capital LLC and additional investors selling their stakes, with Atrium maintaining its brand and management post-acquisition. Atrium, renowned in Lloyd's insurance market, specializes in property, casualty, and specialty lines, writing $1.3 billion in gross premiums in 2024. The acquisition represents CRC Group's first venture outside North America, aligning with its strategic growth plans. Financial advisor Evercore Partners International and legal advisor Debevoise & Plimpton LLP represented Atrium, while CRC Group was advised by Insurance Advisory Partners, GC Capital & Advisory, alongside legal counsel from Simpson Thacher & Bartlett LLP and Norton Rose Fulbright. The transaction, pending regulatory approval, is set to close in Q3.
Sectors
- Insurance
- Private Equity
- Financial Advisory
- Legal Advisory
Geography
- United Kingdom – Atrium is headquartered in the UK, functioning prominently in Lloyd's marketplace.
- United States – The acquirer, CRC Group, is based in North America, and this marks its first international acquisition.
- Canada – CRC Group operates offices across Canada.
Industry
- Insurance – The article deals with the acquisition of Atrium Underwriting Group Ltd., a significant player in the insurance sector at Lloyds.
- Private Equity – Stone Point Capital LLC, a private equity firm, is a key participant through its managed investment funds.
- Financial Advisory – The transaction involves financial advice from Evercore Partners International LLP, Insurance Advisory Partners LLC, and GC Capital & Advisory.
- Legal Advisory – Legal terms in the contract were advised by firms like Debevoise & Plimpton LLP, Simpson Thacher & Bartlett LLP, and Norton Rose Fulbright.
Financials
- $1.3B – Atrium's gross written premium in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Atrium Underwriting Group Ltd. | Target | Company | A leading underwriting business at Lloyd's, specializing in diverse insurance and reinsurance portfolios. |
| Stone Point Capital LLC | Selling Company | Company | A private equity firm managing investment funds involved in the sale of Atrium. |
| CRC Group | Bidding Company | Company | A top North American independent wholesale specialty insurance distributor acquiring Atrium. |
| Evercore Partners International LLP | Financial Advisor to Atrium | Company | Exclusive financial advisory service provided to Atrium for the transaction. |
| Debevoise & Plimpton LLP | Legal Advisor to Atrium | Company | Legal advisory services for Atrium. |
| Insurance Advisory Partners LLC | Financial Advisor to CRC Group | Company | Advised CRC Group during the acquisition process. |
| GC Capital & Advisory | Financial Advisor to CRC Group | Company | Contributed to the financial advisory for CRC Group's acquisition. |
| Simpson Thacher & Bartlett LLP | Legal Advisor to CRC Group | Company | Provided legal advice for CRC Group in the transaction. |
| Norton Rose Fulbright | Legal Advisor to CRC Group | Company | Collaborated as legal counsel for CRC Group's acquisition. |
| John Fowle | CEO of Atrium | Person | Current Chief Executive Officer and spokesperson from Atrium Underwriting Group Ltd. |
| Dave Obenauer | CEO of CRC Group | Person | CEO of CRC Group announcing the acquisition of Atrium. |