A special acquisition company that is London-listed, has now moved even closer to launching a vehicle. It is designed to give various investors the access to the London Insurance market of Lloyd.
The Financial Acquisitions corporation has said that it has established the London Innovation Underwriters Ltd. (LIU) as a part of the plan for deploying funds in the market’s historic insurance. It also aims to build a reinsurance book of up to 1Bn pounds in capacity.
The SPAC also actually aims at combining the LIU and equally raising a considerable amount of sum pertaining to the equity capital on the Stock Exchange of London.
Financial Acquisition has made a statement:
“an efficient vehicle for investors to access attractive returns in the Lloyd’s insurance market without paying significant goodwill or adding further fee structures”.
The CEO has said that they are pleased with the initial response and reaction that they have garnered from both the underwriters and investors.
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