Property, commercial and speciality insurer and reinsurer, IQUW, has revealed plans to acquire Agora Holdings and combine its business with IQUW’s existing Property portfolios.
IQUW intends to acquire Agora and its subsidiaries, the Group responsible for providing underwriting services to Agora, Lloyd’s Syndicate 3268.
The company reports that discussions to close the deal are at an advanced stage and it’s expected to complete in the coming days, subject to regulatory and Lloyd’s approval.
Under the proposed deal, Agora’s Property Insurance and Reinsurance businesses form part of IQUW’s portfolio and the Agora team join the IQUW Property Insurance and Reinsurance teams.
The teams will be led by incoming Head of Property, Simon Jackson and Reinsurance Chief Executive Officer (CEO), Stephen Young.
By combining the businesses, it will create one of Lloyd’s leading property markets, accelerating the acquirer’s strategy to deliver a full-service Property proposition alongside the ongoing buildout of its Commercial and Specialty businesses.
“At this stage, there can be no assurance that any agreement will be reached or that a transaction will be consummated. Further updates will be provided when available,” says IQUW.
