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HomePet Industry NewsPet Financial NewsLondon-listed SPAC strikes nearer to launch of Lloyd's insurance coverage automobile

London-listed SPAC strikes nearer to launch of Lloyd’s insurance coverage automobile

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Interior of the Lloyd's of London building is seen in the City of London financial district

The inside of the Lloyd’s of London building is seen within the City of London monetary district in London, Britain, April 16, 2019. REUTERS/Hannah McKay//File Photo Acquire Licensing Rights

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

Our Standards: The Thomson Reuters Trust Principles.

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