Willkie Farr & Gallagher LLP
01/10/2025 | News release | Distributed by Public on 01/10/2025 10:01
Willkie Advises FM on Acquisition of Velocity Specialty Insurance Company
Willkie Advises FM on Acquisition of Velocity Specialty Insurance Company
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January 10, 2025
Willkie is representing commercial property insurer FM in its proposed acquisition of Velocity Specialty Insurance Company (VSIC), a leading excess & surplus insurance provider.
On January 7, FM announced that it reached an agreement in principle to acquire VSIC. The deal is expected to close in the first half of 2025, subject to regulatory approvals.
VSIC was formerly part of the Velocity Risk group, which also included Velocity Risk Underwriters. Velocity Risk Underwriters is to be acquired by Ryan Specialty as part of a separate proposed transaction.
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners.
The Willkie team is led by partners Prakash (PK) Paran and Esther Chang and associate Rubini Wu, and includes partners Jordan Messinger, Matthew Makover, Vadim Mahmoudov and David Heales, counsel Nicole Zayac, associate Qingqing (Chelsea) Zheng, and international attorney Pedro Ricco.
On January 7, FM announced that it reached an agreement in principle to acquire VSIC. The deal is expected to close in the first half of 2025, subject to regulatory approvals.
VSIC was formerly part of the Velocity Risk group, which also included Velocity Risk Underwriters. Velocity Risk Underwriters is to be acquired by Ryan Specialty as part of a separate proposed transaction.
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners.
The Willkie team is led by partners Prakash (PK) Paran and Esther Chang and associate Rubini Wu, and includes partners Jordan Messinger, Matthew Makover, Vadim Mahmoudov and David Heales, counsel Nicole Zayac, associate Qingqing (Chelsea) Zheng, and international attorney Pedro Ricco.
Prakash (PK) Paran Partner Corporate & Financial Services
New York [email protected] +1 212 728 8676
Rubini (Rube) Wu Associate Corporate & Financial Services
New York [email protected] +1 212 728 3980
Jordan A. Messinger Partner Executive Compensation & Employee Benefits
New York [email protected] +1 212 728 8799
Qingqing (Chelsea) Zheng Associate Corporate & Financial Services
Chicago [email protected] +1 312 728 9119
Pedro Ricco International Attorney Corporate & Financial Services
New York [email protected] +1 212 728 3941