Max Capital buys Imagine's Lloyd's operations for £11m cash
Max Capital said it has entered into an agreement to acquire Imagine Lloyd's and Imagaine Lloyd's operations in Denmark and Japan from Caribbean-based (re)insurer Imagine for £11m cash. The agreement also includes the acquisition of Imagine Lloyd’s operations in Denmark and Japan.
In addition, Max Capital will replace letters of credit totaling approximately £90 million that an affiliate of Imagine has provided to fund Imagine Lloyd’s syndicate commitments.
The deal was
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