Berkshire Hathaway buys run-off reinsurer Scottish Lion
Audley Gilroy-owned legacy (re)insurer Scottish Lion has been sold to Berkshire Hathaway in an unexpected deal that closed last night, The Insurance Insider can reveal.
The news will come as a surprise to the run-off market, which is keenly awaiting a date for a second sanction hearing on Scottish Lion's proposed solvent scheme of arrangement.
The plan was controversially dismissed on grounds of fairness by a Scottish court last autumn, but that decision was overturned on appeal at the start...
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