West Hill advises on the £42million sale of Paragon to an Australian listed insurance Group

West Hill advised the shareholders of Paragon International, a leading independent Lloyd’s and London Market insurance broker focussed on Professional Liability, D&O, Cyber, Casualty, Healthcare and Mergers & Acquisitions insurance, on its sale to PSC, an Australian $0.75bn listed insurance services group.

As a consequence of its market renowned expertise in professional and financial lines, Paragon services many of the world’s largest technology, legal, engineering and architectural firms.

The acquisition was PSC’s largest to date outside Australia, materially increasing their exposure to the significant US market and, coupled with their existing UK businesses, establishing a leading Lloyd’s broker with controlled premiums of approximately £500 million.

The sale price was a minimum £42.0 million with additional contingent consideration payable based on the EBITDA of Paragon for the years ended 31 December 2019 and 2020.