Sompo, one of Japan's biggest property and casualty insurers, is selling the business to a private equity consortium led by Centerbridge Partners. It first bought Canopius, a specialist Lloyd's insurance market company with premium income of $1.6bn (£1.2bn), in 2014.
The deal is expected to close in the first quarter of 2018, subject to regulatory approval.
Mishcon is advising Sompo, with a team led by City corporate partner Jonathan Berman and City corporate legal director Laura Chandler.
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