Limit sells Ensign to management team following QBE deal.
Lloyd's insurer Limit is selling Ensign Motor Policies, motor syndicate 980, to its management. T...
Lloyd's insurer Limit is selling Ensign Motor Policies, motorsyndicate 980, to its management.
The management buy out has been led by John Neal, Ensign's lead
underwriter.
Ensign is expected to have a capacity of about £147m for the 2001 year of
account.
"We can move forward to a quick conclusion of this transaction, that
implements the strategic desire of our new parent QBE to withdraw from the
Lloyd's motor insurance market," said Steve Burns, financial director of
Limit.
The MBO is part of a wider
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