-
The carrier has been looking to enter the Lloyd’s market since 2021. -
Direct Line’s board said it received the offer on 19 January and rejected it on 29 January.
-
Ryan entered into a £200mn currency forward to manage the appreciation risk of the Castel deal.
-
The Lloyd’s legacy business has been placed up for sale, along with other units.
-
Direct Line's shares surged by 28% following the confirmation.
-
-
The insurance services firm is owned by Lovell Minnick.
-
Its PE owners have been exploring strategic options since May last year.
-
The firm will have more flexibility around talent compensation and M&A activity.
-
The enterprise value is around 18x Truist Insurance’s 2023 core Ebitda.
-
Enstar acquired 637,640 shares of James River in Q4 last year valued at nearly $6mn.
-
Arm is based in Guernsey and has a Bermudan management licence.
