Brief: Financials Acquisition Says LIU Separately Established To Make A Listed Operating Co

Financials Acquisition

08/09/2023 07:13

Sept 8 (Reuters) - Financials Acquisition Corp
 FINSF.L :
    * UPDATE ON PROPOSED TRANSACTION
    * LONDON INNOVATION UNDERWRITERS SEPARATELY ESTABLISHED IN
ORDER
TO IMPLEMENT ITS STRATEGY OF BECOMING A LISTED OPERATING CO
    * STRATEGY OF BECOMING A LISTED OPERATING COMPANY DEPLOYING
FUNDS
INTO LLOYD'S OF LONDON INSURANCE MARKET
    * INTENDED THAT PROPOSED TRANSACTION WILL BE IMPLEMENTED
THROUGH A
BUSINESS COMBINATION WITH LIU
    * BUSINESS COMBINATION WITH LIU, WILL SEEK TO RAISE A
SIGNIFICANT
SUM OF EQUITY CAPITAL THROUGH A LISTING OF LIU ON LSE
    * VIA COMBINATION WITH LIU, CAN CREATE EFFICIENT VEHICLE FOR
INVESTORS TO ACCESS ATTRACTIVE RETURNS IN LLOYD'S INSURANCE
MARKET
    * BOOK OF REINSURANCE SEEN TO HAVE CAPITAL REQUIREMENT BELOW
50%,
WILL GIVE LIU CAPITAL TO SUPPORT UP TO £1 BILLION OF CAPACITY

Source text for Eikon:  ID:nRSH8441La 
Further company coverage:  FINSF.L 

 ((Reuters.Briefs@thomsonreuters.com;;))