Jubilee appoints JLT Advisory but quiet on sale rumours

Lloyd’s insurer Jubilee has appointed JLT Advisory to help it consider options for future growth.

However the company would not comment specifically on speculation it was looking for a sale.

Reports suggested the firm was subject to an auction led by JLT Advisory, with Canopius and Ryan Specialty Group linked as the frontrunners.

However Jubilee said its focus remained on strengthening its current operations for the future.

A Jubilee spokesman said: "As part of our long-term strategy I can confirm that Jubilee appointed JLT Advisory to carry out a review of the business. As part of this process, JLT Advisory is looking at a number of options to facilitate future growth.

"Jubilee's market position, the strength of the operations and excellent team mean it frequently attracts interest and approaches from organisations and in some cases this naturally leads to speculation about the business. However, we have a very strong Lloyd’s platform and remain committed to strengthening and developing the business.”

"At this stage, no specific decisions have yet been taken and it would be inappropriate to comment on any speculation regarding this matter."