Canopius bought by Sompo for £594m

Lloyd's building

NKSJ Holdings, through its subsidiary Sompo Japan Insurance, has bought 100% of Canopius Group for £594m.

The deal for the specialist Lloyd's market company was confirmed after a weekend of speculation and the price represents a 1.5x multiple based on Canopius's unaudited tangible net asset value at 30 June 2013.

The Canopius brand and management team will all be kept by the new owners.

The transaction is subject to regulatory approval and is expected to close in the second quarter of 2014.

Foun

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: