Lazard and Noble promote Lloyd's investment
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.TWO investment vehicles aimed at bringing corporate capital into the Lloyd's insurance market next year issued pathfinder prospectuses yesterday detailing their schemes, writes Lisa Vaughan.
The Nelson Lloyd's Trust, sponsored by Lazard Brothers, has set a target to raise pounds 60m of capital and will back 34 Lloyd's syndicates. Octavian, which owns a Lloyd's member's agent, will advise Nelson and Henderson Touche Remnant will manage its investment portfolio. The offer opens on 12 November.
A second scheme sponsored by Noble & Company has created two linked units, Premium Trust and Premium Underwriting, to raise a maximum of pounds 33m of capital and will back 26 syndicates. Its offer opens on 15 November.
On Wednesday three investment vehicles were launched, attracting more than pounds 400m in corporate capital for Lloyd's.
Towry Law, one of Britain's largest chains of independent financial advisers, is to go public on 11 November, placing 32 per cent of its shares on the London Stock Exchange at a price of 190p per share, which values the company at pounds 29m.
The firm gives advice on personal finance, insurance and pensions and is the first of its kind in the UK to list its shares. It hopes the move will facilitate acquisitions.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments