Lloyd’s insurer Amlin Plc has confirmed that it is considering a takeover bid for Chaucer Plc, another Lloyd’s insurer.
News reports indicated that Amlin’s Board of Directors has been discussing a proposed offer for Chaucer, and that it considers acquiring the company to be a very good move.
Amlin is already one of Lloyd’s largest General Agents, managing Syndicate 2001, with 2005 capacity of £850 million ($1.55 billion). Chaucer manages Syndicates 1084, 1176, 1301,3210 and 4000.
A combination of the two groups would create the largest independent insurer, i.e. not affiliated with a multi-national company, in the Lloyd’s market.
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