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The ILS play will make the business more capital efficient under new owner Sixth Street. -
Assurex’s global independent broker network pumps $4bn of premium into the London market.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The fronting insurer will be able to support MGAs across the 27 EU states.
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The firm is currently working with 13 MGAs, including QMetric and Eaton Gate.
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A second syndicate is being explored for “big and bold” new lines
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.
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Lloyd’s executives have suggested ceded reinsurance syndicates could help London compete in treaty.
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The deal, revealed by this publication in December, values the firm at $14bn.
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Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.
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The Lloyd’s business secured a $90mn investment from Alchemy in 2021.
