Latest move in strategy of selling non-life run off insurers
Charles Taylor said it has sold its holding in Bestpark International, an insurance company in run-off, to Ashbrooke Financial Group.
The company said the sale is in line with its strategy of reducing its exposure to non-life insurance companies in run-off, and is exploring its options for its remaining non-life insurance companies in run-off.
But it added that it is still actively seeking acquisitions in the UK international life insurance run-off sector and offers claims management and run-off services to non-life and life (re)insurers in run-off.
The Group owns and consolidates life insurance businesses which are primarily in run-off as part of the growth strategy of its Owned insurance Companies business, creating value through targeted acquisitions and operational efficiency.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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