Imagine Group to Support Abacus Syndicates for 2006
St. Michael 9/27/2005 04:29 PM GMT (TransWorldNews)
St. Michael, Barbados, September 27, 2005 - Imagine Insurance Company Limited, a member of The Imagine Group ("Imagine"), has recently entered into an agreement in principle to acquire all of the outstanding shares of Abacus Syndicates Limited and Abacus Underwriting Agency Limited ("Abacus"). The transaction is subject to final documentation and receipt of regulatory approvals.
As part of this transaction, Imagine is pleased to announce that it will provide support to Lloyd's Syndicates 2525 and 2526 for 2006. The two syndicates are managed by Abacus. Imagine will be focusing its capacity for employers and professional liability written at Lloyd's with Abacus for 2006.
With a growing platform of specialised syndicates, Imagine is providing opportunities for third-parties to partner with Imagine to provide capital support for underwriting at Lloyd's.
The Imagine Group is a global specialty insurance and reinsurance company. A subsidiary of Brascan Corporation (NYSE, TSX: BNN), Imagine has offices in Barbados, Bermuda, New York, Connecticut, Philadelphia, St. Louis, London, Dublin, Munich, Copenhagen, Sydney and Toyko. Imagine has financial strength ratings of A (Strong) by Fitch Ratings and (A-) Excellent by A.M. Best.
For more information, please visit our website at www.theimaginegroup.com or contact:
+1 441 504-6056
+1 441 296-4474