Ark
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The Lloyd’s business is looking to raise $800mn of new equity and $200mn of debt.
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Ark founder David Foreman is due to retire from the role at year end.
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The money would support the upgrade of the carrier’s Bermuda arm to a Class 4 reinsurer, as well as expansion at Lloyd’s.
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Other significant reductions in this publication’s running SBF approval tally include Aspen 4711, Markel 3000 and Hiscox 33.
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