Lloyd's insurer in £14.9m disposal
Chaucer has sold its shareholding in Pembroke JV to Ironshore for a cash consideration of £14.9m, subject to a pound for pound adjustment to the extent that net assets at completion differ from £0.5m.
For the year ended 31 December 2007, Pembroke JV reported unaudited consolidated pre-tax profits of £0.8m and consolidated net assets of £1.1m.
Pembroke JV owns Pembroke Managing Agency, which is the
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