R&Q

The program manager and legacy transactions company forges an alliance with Kitsune.

CPD is a UK-based MGA that writes private motor and household cover.

Regulatory approval for the $80.5mn deal is expected early next year.

CEO Dan Saulter says the group has identified a pipeline of potential acquisitions on both sides of the Atlantic.

The carrier plans to transfer the target to its Maltese company, Accredited Insurance (Europe), subject to regulatory and Irish court approval.

Chairman Ken Randall says size is no obstacle to potential Lloyd's run-off deals.

The legacy acquirer is to pay $80.5mn for Global US Holdings.

With the recent push from Lloyd’s to remediate the market’s ailing profitability, it’s widely expected that the legacy market will see greater reinsurance-to-close (RITC) deal flow in the months to come.

The carrier has brought together its program businesses on both sides of the Atlantic.

The carrier wants to double the cap to accommodate acquisition opportunities.

The carrier has agreed program underwriting deals with Futura, All Risks, and Inspire.

The companies estimate the tie-up will be worth an initial $30mn in gross written premiums a year.