Talisman Holdings said it had completed its management buy-out. Talisman is the vehicle acquiring the Lloyd's interests of the Trenwick Group.
According to a report, the Lloyd's operations will be branded Canopius. It will manage syndicates 4444 (formerly Syndicate 839 writing non-marine) and 44 (life).
The 2004 year of account capacity for Syndicate 4444 is £250m, and for Syndicate 44 it is £3m.
Talisman Holdings is majority-owned by Englefield Capital, a £700m private equity fund focusing on the middle market segment across Europe, said the report.
It said the management team, lead by chairman Michael Watson, had a significant stake in Talisman Holdings.
