Hamilton Insurance Group entered into a share purchase agreement to acquire Sportscover Underwriting Limited, a Lloyd’s managing agent, which manages Syndicate 3334 and Kinetic Insurance Brokers, a Lloyd’s insurance broker.
Australian-owned specialist sports and leisure insurer Sportscover entered Lloyd’s in 2006 and has been looking over the past few years for an equity and capital partner to assist with its growth plans. Hamilton was formed in December 2013 with technology partner Two Sigma Investments LLC and is led by insurance industry veteran Brian Duperreault.
Hamilton, together with Wild Goose Holdings – the holding company for the Sportscover group chaired by founder Peter Nash – will provide Funds at Lloyd’s for the 2015 year of account.
Hines Associates Limited acted as financial advisor to Wild Goose Holdings in connection with the sale.