Hannover Re has completed the acquisition of the UK holding company Argenta Holdings Ltd., which owns the companies Argenta Syndicate Management and Argenta Private Capital, as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121.
The acquisition became effective on July 20, four months after Hannover Re first announced its agreement to acquire Argenta Holdings.
Financial details of the transaction were not disclosed.
With this acquisition, Hannover Re said it has gained additional access to international and London market business while at the same time supporting Argenta in its future growth strategy.
Syndicate 2121 booked gross written premium of £280 million (US$ 363.6 million) during the 2016 financial year.
Source: Hannover Re
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