CHICAGO – Troutman Pepper Locke represented Old Republic International Corporation (Old Republic) as lead deal and regulatory counsel in its acquisition of Everett Cash Mutual Insurance Co. (ECM) and its affiliated companies (ECM Group), following ECM’s conversion from a mutual company to a stock company. ECM Group is a leading insurer of small farm owners and select commercial agricultural operations.
The acquisition was structured as a sponsored demutualization of ECM in which eligible members of ECM, in exchange for their membership interests, were granted subscription rights to purchase Old Republic’s common stock at a discount. The transaction was subject to insurance department regulatory approval, ECM member approval, and involved a registered public offering of Old Republic’s common stock to the ECM participants.
The Troutman Pepper Locke team that represented Old Republic was led by Brett Pritchard, with substantial assistance from Tim Farber, Tom Bohac, Marisa Young, and Laura L. Ferguson. Additional assistance was provided by Grace Elliott, Christopher Flanagan, Gislar Donnenberg, Ed Razim, Joe Farside, Andrew Nelson, Brooke Labonski, and George Phelan.
Troutman Pepper Locke’s Insurance Transactional and Regulatory Practice navigates the complex landscape of insurance laws, regulations, and corporate transactions. The team provides strategic counsel to insurance companies, reinsurers, brokers, and other industry stakeholders, ensuring compliance with regulatory frameworks while facilitating mergers, acquisitions, capital raising, restructurings, and innovative market entries. By combining deep experience with industry insights, Troutman Pepper Locke empowers clients to achieve their business objectives while mitigating risks in a highly regulated sector.
Troutman Pepper Locke
Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.