Candover Considers Acquiring Reliance’s European Arm

Candover Investments P.L.C., a buyout specialist, has entered into exclusive negotiations to acquire Reliance National Insurance Co. (Europe) Ltd. Last year, Reliance National (Europe) generated $255.2 million in gross written premiums in 1999. Reliance National is the European subsidiary of Philadelphia-based Reliance National Insurance Co.

Reliance Group Holdings Inc. has been selling off several pieces of its book in recent months as it faces the threat of bankruptcy and liquidation.