Westfield snaps up Lloyd’s of London Syndicate 1200 from Argo Group

Westfield, an American property and casualty insurance company, has acquired Lloyd’s of London Syndicate 1200 from Argo Group International Holdings.

The financial terms of the deal were not disclosed.

Syndicate 1200 segment is engaged in underwriting worldwide property, specialty, and non-American liability insurance. Its underwriters are organized into four divisions, which include liability, property, marine and energy, and specialty.

Westfield said that the acquisition establishes it as a global franchise, expedites the growth of Westfield Specialty after a solid first 18 months in the American market, and puts the latter’s portfolio in surplus of $1 billion in premium.

Ed Largent — Westfield President, CEO, and Board Chair said: “This acquisition demonstrates Westfield’s commitment to the international specialty market.

“The Lloyd’s of London market offers long-term growth opportunities and we’re excited to offer brokers, agents, and clients greater access to Westfield’s expertise and product offerings.”