Englefield Capital LLP
Michelin House
81 Fulham Road
London SW3 6RD
UK
T. +44(0)20 7591 4200
F. +44(0)20 7591 4222
Englefield Capital LLC
1142 Crane Street, Suite #1
Menlo Park, CA 94025
USA
T. +1 650-328-9100
F. +1 650-328-9110
Englefield Capital Advisors Private Ltd
Trident Hotel, Room 1216
Nariman Point
Mumbai 400 021
India
T. +91-22-6630-1858
F. +91-22-6630-7255
Regulated by the FSA
December 09, 2003
"Canopius" launched to manage Lloyd's Sydicates 4444 and 44
Talisman Holdings Ltd, the vehicle acquiring the Lloyd's interests of the Trenwick Group, confirmed today that it has completed the MBO. All necessary regulatory approvals have been received and all contracts have been signed.
The Lloyd's operations are being branded 'Canopius' and will manage Syndicates 4444 (formerly Syndicate 839) and 44 (Life). The 2004 year of account capacity of Syndicate 4444 is £250 million and that of Syndicate 44 is £3 million.
The management team has a significant stake in Talisman which is majority-owned by Englefield Capital, a €700 million private equity fund focusing on the middle market segment across Europe.
Michael Watson, Chairman of Talisman Holdings Ltd. said: "We are delighted to have concluded the transaction with our capital partners and look forward to a successful future for 'Canopius', the new brand name for our Lloyd's operations.
"Our Life Syndicate 'forty four' and re-numbered composite Syndicate 'forty four, forty four' are poised to take full advantage of current excellent market conditions. We look forward to becoming an important part of the Lloyd's and London insurance community."
