Asia Capital Re (ACR) was in takeover talks with Argenta-managed Syndicate 1965 ahead of the Thai floods last year, demonstrating that ACR has had a desire to get into Lloyd's for longer than was widely known.
The Insurance Insider has learned from Singapore-based sources that ACR was attempting to acquire Syndicate 1965 from a consortium led by Japanese trading house Mitsui & Co last summer.
ACR said the terms could not be agreed upon, which ended the negotiations.
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