LONDON, Sept 8 (Reuters) – A London-listed particular goal acquisition firm has moved nearer to launching a automobile designed to provide traders entry to the Lloyd’s of London insurance coverage market, in line with an announcement on Friday.
Financial Acquisitions Corp stated it had established London Innovation Underwriters Limited (LIU), as a part of a plan to deploy funds within the historic insurance coverage market and build a reinsurance e book with as much as 1 billion kilos ($1.25 billion) of capability.
The SPAC intends to mix with LIU and lift a “vital sum” of fairness capital on the London Stock Exchange, the assertion stated, including an extra assertion can be made as soon as the mix was entered into.
($1 = 0.8010 kilos)
Reporting by Iain Withers; Editing by Sharon Singleton
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