22nd Jan 2016 07:57
LONDON (Alliance News) - Helios Underwriting PLC on Friday said it has paid GBP1.1 million to acquire Lloyd's of London limited liability vehicle Devon Underwriting Ltd.
Helios said the deal backs its push to expand its overall capacity through acquisitions. The 2016 underwriting capacity of Devon is GBP1.2 million, Helios added.
"We are delighted to have made a further LLV acquisition which further increases our underwriting capacity. This is in line with our stated strategy of acquiring corporate members as suitable opportunities arise," said Nigel Hanbury, Helios' chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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