A SPAC has launched a new listed business providing investors access to the Lloyd’s of London Insurance market.
Financials Acquisition revealed it had set up London Innovation Underwriters (LIU), with which it intends to merge in order to raise significant amounts of capital via a listing on the UK capital’s stock exchange.
Financials said it expects LIU to have enough capital to support up to £1B of capacity upon completion of the merger.
It believes the combination would create an ‘efficient vehicle’ enabling investors to build exposure to the market without needing to fork out goodwill payments or create additional fee structures, reports This is Money. Read more.
