RSG secures direct Lloyd’s access with Jubilee acquisition
Ryan Specialty Group (RSG) is acquiring 100% of the share capital of specialist Lloyd’s insurer, Jubilee Group Holdings Limited, subject to both Lloyd’s and regulatory approval.
The acquisition includes Jubilee Managing Agency plus Amsterdam-based Jubilee Europe BV and distribution and administration businesses, Lutine Assurance Services and Jubilee Service Solutions.
However, the Chicago-based wholesale broker says it does not intend to acquire the existing corporate members for the three Jubilee Syndicates 779, 5820 and 1231.
Commenting on the move, RSG managing director, Johnny Rowell, says: “We look forward to Jubilee’s addition to the RSG family of companies and also to its role as a significant contributor in our effort to introduce and support new products and programs in the London and European markets in a meaningful way.”
RSG chairman, Patrick G. Ryan, adds: “Jubilee … provides us with direct access to the Lloyd’s market and represents a key cornerstone of our strategy to provide specialty expertise and commitment to insurance underwriters, brokers and agents across a single, unique platform.”
Category: Companies News, Insurance News
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