A-Plan backer HGCapital set to swoop for KGM Insurance
Two businesses to sit as independent firms in the new ownership structure.
Private equity investor and A-Plan shareholder HGCapital is poised to buy Lloyd's motor insurer KGM Insurance, part of the Sompo Canopius Group, Insurance Age can reveal.
KGM is a brand name for business written by Lloyd's Syndicate 4444 and is managed by Canopius Managing Agents.
HgCapital and KGM declined to comment.
A-Plan also declined to comment.
Structure
HGCapital has been a backer of A-Plan since December 2014.
The deal would be similar in nature to when Towergate's backer HPS Investment
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