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Lloyd’s insurer Ark in advanced MBO talks

6 August 2013

Aquiline Holdings, the majority owner of Ark Syndicate Management, has reached a provisional agreement to sell the Lloyd's managing agency to Ian Beaton and other senior executives, The Insurance Insider can reveal.

Under the dividend recapitalisation and earn-out deal, the executive team - which also includes director of underwriting David Foreman and CUO Nick Bonnar - would take on senior bank debt and hybrid debt and buy out the managing agency's equity over approximately three years.

Aquiline and the other...

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This article was published as part of issue August 2013/1

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