RPC advises Howden Group on the launch of Parhelion, the world's first fully sustainable insurer
- Seed funded by Howden, Parhelion aims to support clients with ESG transition
- Parhelion is targeting a $500m fundraise
International law firm RPC has advised Howden Group, the international insurance group, on the launch of Parhelion, the world's first fully sustainable insurer. For more information on the transaction, please see the Howden Group's announcement.
"Parhelion will be an unencumbered highly rated ESG focussed carrier, whose launch is a step towards facilitating long-term industry change", said Charlie Langdale, Howden Group's Head of Sustainable Insurance.
Commenting on this, Lee Holland, M&A Chief Counsel at Howden Group said: “We have done a number of deals together with James and the RPC team, and this transaction will bring forward an exciting new solution for our clients."
James Mee, Partner at RPC, led the team on behalf of the firm's Corporate Insurance team, says: ““As one of the leading firms supporting the insurance market, this is a terrifically exciting project to be part of. We're delighted to have worked with the team at Howden Group and Parhelion and look forward to seeing Parhelion grow. ESG is a constant topic of conversation, and it is wonderful to help our clients and the market take action in this area."
Simon Laird, RPC's Head of Global Insurance, added: "Gone are the days when ESG could be treated as independent of business strategy; of business success. They are inextricably linked. You can't execute a credible business strategy without considering the way you treat your people, your communities and the world around you. We're proud to support Howden Group and the Parhelion team on this new venture."