Lloyd’s cover holder forms strategic partnership with insurer
UK insurer Beazley Group has taken up a 25% stake in Lloyd’s cover holder and trade credit specialist Equinox Global Ltd.
The balance of the shareholding is owned by Equinox Global management.
Beazley has been a carrier for Equinox Global since it started business in 2010 through its Syndicates 623/2623 at Lloyd’s.
It also holds binding authority agreements are Pembroke Syndicate 4000 and Aspen Insurance UK Limited.
Equinox Global chief executive Mike Holley said: “External investment to support Equinox Global’s growth has always been part of our strategy.
“We were seeking a long-term, strategic partner as a third-party investor and in Beazley we have found exactly that – strengthening the alignment of interest for both parties.
“This investment shows Beazley’s commitment to supporting Equinox Global and its continued growth. Equinox Global is now well positioned to expand the business further to better support our global client base.”
The investment has been approved by both Lloyd’s and the FSA.
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