US insurance giant buys stake in Lloyd's agency
HCC Insurance Holdings had reached an agreement with an investment company to acquire their 23.6% shareholding in Heritage Underwriting Agency. The transaction is expected to close shortly pending regulatory and Lloyd’s approval.
Heritage is a Lloyd’s agency that manages Syndicates 1200 and 3245, which underwrite property insurance and professional indemnity.
Stephen Way, chairman and chief executive officer of HCC, said:
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