Stone Point Capital negotiates stake in RK Carvill

by Gill Montia

Story link: Stone Point Capital negotiates stake in RK Carvill

At the weekend, the Sunday Telegraph reported that private equity firm, Stone Point Capital, is in the process of negotiating a stake in RK Carvill, the Lloyd’s broker.

RK Carvill was founded in 1977 by insurance entrepreneur and current chairman, Rory Carvill.

The business, which has offices in London, Atlanta, Chicago, New York and Bermuda, specialises in reinsurance for events such as major property catastrophes and medical malpractice.

Stone Point’s interest in the firm comes at a time when the Lloyd’s market has seen a period of consolidation.

Bermuda-based insurers in particular have been keen to acquire firms in the Lloyd’s market.

Part of the attraction is that Lloyd’s operates as a society of members, which can be insurance companies, specialist investors or individuals and its 72 separate syndicates compete for business in many specialty areas in over 200 countries and regions.