Specialty Insurer Wraps AmTrust At Lloyd’s Merger

Law360, London (October 4, 2019, 2:41 PM BST) -- Specialty insurer Canopius has closed a deal to merge with another specialist provider to create a bigger operation with enhanced underwriting capacity at Lloyd's of London, the 330-year-old market, the company has said.

Canopius Group has completed an agreement, which was signed in April, that will see its Lloyd’s business merge with AmTrust at Lloyd’s, a division of Amtrust Financial that is based at the London market, the insurer said Thursday.

Canopius did not disclose the financial terms of the deal, which means Canopius will become a top-five insurer at Lloyd’s with combined premiums of approximately $2.2 billion, the company said. Another deal will...

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