Flagstone Re finalises £32m sale of Lloyd's business
Flagstone Reinsurance has completed the sale of its Lloyd’s segment to a wholly-owned subsidiary of ANV Holdings BV for approximately £31.7m ($49.7m) in cash.
As a result of the transaction, the company is also releasing a £101m ($159m) letter of credit previously posted to comply with its funding obligations at Lloyd’s.
David Brown, Flagstone’s chief
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