Canopius acquires KGM Underwriting Agencies
Canopius Group has completed its acquisition of KGM Underwriting Agencies, which manages one of only two Lloyd’s syndicates dedicated to writing motor business.
Syndicate 260 will write approximately £50 million of premiums for the 2010 year of account and the transaction gives Canopius approximately 60% of capacity.
The KGM name will remain and the syndicate will operate alongside Canopius’s existing Syndicate 4444.
Canopius already has a significant involvement in UK retail insurance through its UK household business and majority ownership of SME specialist, Arista.
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