Canopius acquires KGM
Canopius Group has announced the acquisition of the business of KGM Underwriting Agencies, which manages Syndicate 260, one of two Lloyd's syndicates dedicated to writing motor business, together with approximately 60% of Syndicate 260's capacity.
Syndicate 260, which will write approximately £50m of premiums for the 2010 year of account, will continue to trade under the KGM name and remain as a separate syndicate, supported by Canopius and Names, operating alongside Canopius's existing Syndicate 4444.
Michael Watson, chairman of Canopius, said: “KGM has a long established franchise and a core book of specialist business. Its motor business complements and diversifies our existing underwriting portfolio and builds our specialist
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