Global specialty re/insurer Canopius Group has completed its previously-announced merger with AmTrust’s Lloyd’s operations.
The merger between Canopius Lloyd’s Syndicate 4444 and AmTrust Syndicate 1861 was first announced back in April and will result in the establishment of a top-five Lloyd’s insurer with combined premiums of roughly £2.2 billion.
It is believed that, now the deal has been finalised, AmTrust Financial Services will become a significant minority shareholder in Canopius.
“I am delighted to announce the completion of this very important development for Canopius, which is transformational in our determination to build a leading Lloyd’s franchise,” said Canopius Chairman Michael Watson.
“The key to our success lies in the quality of our people and I welcome our talented new colleagues from AmTrust at Lloyd’s.
“Together we will strengthen the product and service proposition we offer our highly-valued clients and distribution partners. I look forward with great optimism to this exciting next stage in the development of Canopius.”
