Thu, 24 Nov 2011 | BUSINESS SALE
Dutch insurance firm, Brit Insurance, is reported to have appointed advisors to work on the sale of the UK arm of its commercial business.
The insurance industry trade publication, Post, has reported that the company - which insures Lloyd's of London and sponsors the England cricket team - has been estimated to be worth around £150 million.
The first round of bidding for the division of the company is expected to close on Friday, in a sale that is being led by Evercore Partners. Evercore received instructions to embark on the sale during the summer, following the completion of the sale of the whole of the Brit corporation to private equity consortium, Achilles Netherlands Holdings BV, for around £888 million.
Ageas and MMA are believed to be in the scrum of suitors hoping to take on the unit, while Canopious, which had been thought to be a high-profile potential buyer, has apparently distanced itself from the sale.
The UK arm of the company sells commercial insurance policies through insurance brokers. The sale will include the Financial Services Authority-regulated company, Brit Insurance Limited, but will not involve Brit's global markets or reinsurance operations.
The company offers a multi-disciplinary range of construction consultancy services for all of building projects across the private and public sectors. The business is able to offer a variety of solutions, including specifying, designing, procuring an...
The business specialises in the supply and distribution of fixings, fasteners, nuts, bolts, and ancillary products. Operating on a regional B2B basis, the company supplies organisations within the construction, roofing, and plumbing industries
LEASEHOLD
Offers a comprehensive range of marine equipment, including rudders, stern gear and bearings. All products can be designed and manufactured in line with ISO 484-1 and Lloyd’s Register quality standards, assuring clients that they are receiving high-q...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.