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18 Oct 2011 07:00
TAWA COMPLETES ACQUISITION OF US BASED LINCOLN GENERAL
LONDON
Tawa plc ("Tawa" or the "Group"), the quoted insurance investor, today announces that following regulatory approvals from the Pennsylvania Department of Insurance, it has completed its acquisition of 51% of the issued shares of US holding company, LGIC Holdings, LLC as announced on 7 April 2011.
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Contact
Tawa plc
Gilles Erulin, Chief Executive 020 7068 8044
Kingsway Financial Services Inc.
William A. Hickey, Jr., Executive Vice President and Chief Operating Officer (847) 871-6416
Peel Hunt LLP (nominated adviser and broker)
James Britton; Guy Wiehahn - 020 7418 8900
FWD PR
Victoria Sisson; Alexandra Thompson - 020 7623 2368
About Tawa Plc Tawa plc was formed in 2001 with the purpose of acquiring or developing assets and businesses in the insurance industry. Tawa acquires portfolios of insurance and reinsurance companies and businesses providing services to the insurance industry and develops its own products to serve the insurance market as a whole. Tawa's service arm, Pro Insurance Solutions Ltd (Pro), delivers market-wide third-party servicing capability and consultancy services covering the London company and Lloyd's markets as well as Europe and the United States. Pro supports a number of the world's largest insurance businesses. In July 2007 Tawa plc was floated on the AIM market. Further information can be found on the Company's website: www.tawaplc.com Tawa's acquisition timeline | |
Oct-02 | Acquisition of CX Reinsurance Company Limited - largest run-off in London market excluding Equitas - $2.2. billion of liabilities |
May-07 | Acquisition of KX Reinsurance Company Limited |
Mar-08 | Acquisition of PXRE Reinsurance Company |
Nov-09 | Acquisition of The Pro group of companies |
Oct-10 | Acquisition of Island Capital Ltd |
Mar-11 | Acquisition of Oslo Reinsurance Company (UK) |
Mar-11 | Launch of QX Reinsurance Company Limited (Special purpose reinsurance deal for Pennsylvania National Mutual Casualty Insurance Company) |
Apr-11 | 51 percent stake in sole holding company of the Lincoln General Insurance Company |
Sep-11 | Acquisition of Chiltington Group (awaiting regulatory approval) |
Sep-11 | Acquisition of Whittington UK as part of a consortium (awaiting regulatory approval) |
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