FSA to approve Illium
The Financial Services Authority has confirmed it is minded to approve Illium Managing Agency to man...
The Financial Services Authority has confirmed it is minded to approve Illium Managing Agency to manage Syndicate 4040 at Lloyd's, allowing it to start underwriting from January 2004. Speciality reinsurer Imagine Group has agreed to provide an additional £15m underwriting capacity to Syndicate 4040 for 2004 and will purchase a 10% stake in Illium Insurance Group, subject to regulatory approvals.
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