January 04, 2018
Cadwalader is representing Sompo International, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, in its agreement to purchase the operating subsidiaries of Lexon Surety Group LLC.
Lexon, the second largest independent surety insurer in the U.S., is comprised of Lexon Insurance Company, Bond Safeguard Insurance Company and Fortress National Group LLC. The group has been offering a broad array of commercial and contract surety bonds, court and probate bonds, and U.S. Custom bonds through a nationwide network of agents since 2001.
Sompo International is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance, and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market.
The Cadwalader team is led by Corporate partner Andrew Alin, and includes Corporate associates Melissa Solomon, Peter Bariso, Tyler Carson and Marianna Wonder; Employee Benefits and Executive Compensation partner David Teigman and associate Gianna Sagan; Tax partners Linda Swartz and Edward Wei; and Antitrust partner Amy Ray and counsel Ngoc Hulbig.