St Paul Travelers Syndicate Management has sold its personal...
St Paul Travelers Syndicate Management has sold its personal lines book to Jubilee Managing Agency.
Following exclusive negotiations, St Paul Travelers and Jubilee exchanged contracts on Friday. The sale is due to complete shortly subject to regulatory approval, Jubilee said.
Under its new ownership, Cassidy Davis will establish a new non-life Syndicate 5820 that will underwrite creditor, medical expenses, affinity products and mortgage indemnity business.
The management of Cassidy Davis Life, Syndicate 779, will transfer to Jubilee and continue to offer a range of term life products.
All underwriting business will continue to be supported by Cassidy Davis Insurance Services Ltd, the group's insurance administration company, it said.
