Sompo Canopius sold to private equity for $952m
Canopius will be led by current executive chairman Michael Watson and chief underwriting officer Mike Duffy.
Sompo Holdings has agreed to sell Sompo Canopius to a private equity consortium led by Centerbridge Partners for $952m (£737.6m).
The Japanese firm bought Canopius in 2014 for £594m.
The Lloyd’s market insurer was founded in 2003 and now boasts over $1.6bn of premium income.
Sompo International’s Lloyd’s business, previously called Endurance at Lloyd’s, will not be affected by the deal which is expected to complete in the first quarter of 2018.
Canopius will become a standalone business led
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