Pioneer Underwriting Holdings Ltd (PUHL) has today revealed that it has signed terms for a deal which will see it and its subsidiaries (Pioneer) acquired by Russell Coward who is currently Pioneer’s head of risk & compliance as well as company secretary.
The news follows the business’s successful deal with K2 International to transfer its four ongoing underwriting units, and a separate transaction to divest the group’s Guernsey insurance cell which historically provided underwriting support to Syndicate 1980. In a press release, PUHL noted that this final transaction is “a significant step in providing future finality to the existing shareholders of PUHL.”
Source: Insurance Business Magazine
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