Private Placement Water Circles Forsikring ASA

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June 2016 – Private Placement Water Circles Forsikring ASA

About the deal

In 2016 Bryan, Garnier & Co acted as sole manager in a NOK 242m share placement in the BidCo Summer Sea AS.

The proceeds were used to acquire the Managing General Agent WaterCircles Skandinavia AS and obtain sufficient solvency capital in order to transform the company into a full service non-life insurance company. Following the acquisition, Summer Sea AS received its license as a regulated insurance company from the NFSA and was renamed Watercircles Forsikring ASA.

Deal team

Erik Furnes | Managing Director | Oslo | Investment Banking |

Ole Magnus Broch Tenstad | Director | Oslo | Investment Banking |

Kristian Melandsø | Vice President | Oslo | Investment Banking |

About WaterCircles Skandinavia

WaterCircles Skandinavia was founded in 2010 as an Managing General Agent (MGA), an insurance agent with underwriting authority from an insurer / carrier. The company is present in Norway, Sweden and Denmark and operates under the brands “WaterCircles” and “Winterbergh”. The company focuses on a closed distribution strategy, resulting in an industry leading claims ratio.

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