Tower Group Inc. has committed to investing $75 million in Canopius Group Ltd., a privately owned Lloyd’s insurance holding company.
Canopius’s principal business is insurance and reinsurance underwriting through Lloyd’s syndicates, managed by Canopius Managing Agents Ltd., and reinsurance through Canopius Bermuda Ltd. The investment is subject to completion of the acquisition by Canopius of Omega Insurance Holdings Ltd. (Omega), an international insurance and reinsurance group listed on the London Stock Exchange. The acquisition is still in the process of gaining regulatory approvals.
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