Business Services Industry

Aquiline invests in new operation at Lloyd's; Former executives of Aspen, Wellington to manage syndicate.(News)(Aquiline Capital Partners L.L.C.)

Business Insurance, March, 2007 by Roberts, Sally

Byline: SALLY ROBERTS NEW YORK-New York-based private equity firm Aquiline Capital Partners L.L.C. is making another investment in the insurance industry, funding a new Lloyd's of London underwriting agency with some industry veterans at the helm. Ark Syndicate Management Ltd., which will manage Lloyd's syndicate 4020, next month will begin underwriting marine, energy and some property/casualty insurance and reinsurance lines.

The operation will have underwriting capacity of [pounds sterling]114 million ($220.2 million). Aquiline, which is headed by former Marsh & McLennan Cos. Inc. Chairman Jeffrey Greenberg, is the lead investor in Ark. Other sponsors are Whittington Group, an international insurance investment firm; Swiss Reinsurance Co.; and private...

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