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Daily Insurance Industry News
Wednesday 22nd of May 2019
June 10, 2011

Kiln acquires 49% of WNC Holdings

by Richard Kilner

Story link: Kiln acquires 49% of WNC Holdings

Specialist international insurance and reinsurance underwriting group Kiln has announced that it has bought a 49% stake in WNC Holdings.

The investment in WNC Holdings, which is a provider of specialty insurance products and services to US-based financial institutions and their customers, is the largest Kiln (part of the Tokio Marine Group) has made in its 50 year history.

Last year WNC reported net written premiums exceeding US$100m, and the firm has worked in partnership with Kiln for the last 25 years.

Kiln Chief Executive Charles Franks stated that the move indicated Kiln’s commitment to building and maintaining strong and profitable partnerships with high quality businesses.

Under the terms of the deal WNC Management will retain 51% of the firm, which will also keep its own brand and management structure.

 

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