View this article online: https://www.insurancejournal.com/news/international/2020/01/15/554901.htm
Tysers, the London-based broker, announced it has taken a minority investment in Bermuda’s newly formed and first independent managing general agent Helix Underwriting Partners Ltd.
“As we enter the 200th year of Tysers’ existence, we are delighted to be partnering with Helix Underwriting Partners,” commented Richard Tomkins, managing director of Tysers Bermuda Ltd.
Financial details of the transaction were not disclosed.
“In the latter half of 2019 we observed and had dialogue with Helix during its formation and realized they would be a great fit for our stated independent strategy,” he added. “The founders of Helix have many years of experience within the industry, across multiple disciplines and have all the necessary skills to make the business a success.”
“During our formation process, we reviewed capital propositions from several interested parties. Tysers emerged as an optimal strategic partner for Helix; its goal to be a leading independent brokerage and service firm aligns well with the profile of our business,” said Claude Lefebvre, president of Helix Underwriting Partners Ltd., which was incorporated in December 2018 as the first multi-line, independent managing general agent in Bermuda.
“Helix has collaborated closely with the Tysers management team throughout this process. We appreciate this strategic investment from Tysers and the additional access to capital as we fully launch Helix with our business partners,” Lefebvre continued.
Tysers was acquired by the Integro Group in June 2018 and was subsequently transferred into Integro Insurance Brokers Ltd.’s wholesale division, the company’s largest business segment, which trades under the Tysers brand.
Source: Tysers
Related: