Bermuda-based Hamilton Insurance Group has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency platform at Lloyd’s and Ironshore Europe DAC (IEDAC).
The deal is expected to close by the end of 2019. Financial details of the agreement were not disclosed.
Hamilton said the transaction will almost double its total premium base. It added that deal will enable the group to work towards a leadership position in specialty insurance, while expanding its reinsurance capacity.