Norton Rose is advising Singapore-based Whittington Group Pte Ltd on the sale of its UK operations.
This move reflects the insurer’s focus on developing markets in Asia.
The entire issued share capital of Whittington Insurance Market Ltd, which provides managing agency services to start-up and existing operations at Lloyd’s, was sold to a three-way consortium comprising UK specialist insurance firm Tawa, Norwegian marine insurer Skuld and Bermuda-domiciled Paraline.
The transaction is subject to approval from both the FSA and Lloyd’s and should complete before the end of the year.
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