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Munich Re moves to invest in Lloyd's. (Munich Reinsurance)
National Underwriter Property & Casualty-Risk &Benefits Management
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September 29, 1997|
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COPYRIGHT 1997 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Munich Reinsurance Co. has joined the ranks of those companies investing in Lloyd's with a recent announcement that it plans to buy a Lloyd's managing agency.
Under the agreement, Munich Re will become the indirect equity shareholder of Apollo Underwriting Ltd., the managing agent of Lloyd's Syndicate 457, which specializes in marine insurance.
In addition, Munich Reinsurance Group, through a London subsidiary, plans to acquire the corporate vehicle, Syndicate 457 Capital Ltd., which provides 55 percent of the capacity for the syndicate, said Christian ...
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Magazine article from: Seventeenth-Century News
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