Max Cap Completes Lloyd’s Acquisition

The Bermuda-based Max Capital Group has completed the previously announced acquisition of Imagine Group (UK) Limited, a Lloyd’s insurance operation, from Imagine Insurance Company Limited.

“Imagine Lloyd’s managing agent will be renamed Max at Lloyd’s Ltd.,” said the announcement. “The acquisition includes Imagine Lloyd’s operations in Denmark and Japan.

“Max at Lloyd’s, through Lloyd’s Syndicates 1400, 2525 and 2526, underwrites a diverse portfolio of specialty risks including property catastrophe, financial institutions, personal accident, employers’ and public liability, and professional indemnity business. Based in London, Max at Lloyd’s will complement Max Capital’s current underwriting operations in Bermuda, Ireland and the United States.”

Chairman and CEO W. Marston (Marty) Becker commented: “With our acquisition of Max at Lloyd’s, we have accomplished the key strategic objective of obtaining access to the Lloyd’s market and its important benefits with a team of high quality underwriters. Max at Lloyd’s will further diversify Max’s risk profile and enable us to provide our global clients with a wide range of products backed by both the financial strength of Max and the highly rated security common to all Lloyd’s syndicates.

“A Lloyd’s presence will also present new opportunities to add key specialty underwriting teams to our Company. We look forward to working with Max at Lloyd’s talented underwriting teams led by Matthew Petzold, and expect the company to quickly become an important contributor to the success and profitability of Max.”

Source: Max Capital – www.maxcapgroup.com