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Hannover Re To Buy UK Holding Company Argenta Holdings

German re-insurer Hannover Re AG (HVRRY.PK,HVRRF.PK) said that it has reached an agreement to acquire the UK holding company Argenta Holdings plc, 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
parties have agreed to maintain confidentiality regarding the purchase
price.

The transaction is expected to close in the third quarter subject to all
necessary approvals.

In the 2016 financial year Syndicate 2121 booked gross premium of GBP 280
million. Hannover Re intends to support Argenta on its envisaged growth
trajectory.

by RTT Staff Writer

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