The Qatar Sovereign Fund has acquired one of the newest British insurance institutions, the “Inigo LTD” Holding Corporation, in a deal referred to as the largest in the British commercial market during 2020, with the deal value estimated at nearly 604 million pounds, in exchange for the acquisition of the largest percentage. In a statement to reporters in London, CEO of “Inigo LTD” Holding Company, Richard Watson, confirmed the completion of the deal with the consortium that includes Qatar’s sovereign fund and 5 other global international institutions, namely “JC Flowers &” Co, Stone Point, Entsar, CDPQ and Oak Hill Advisors. Watson stated that the deal included pumping $ 800 million, the equivalent of 604 million pounds into the portfolio of the insurance institution, Inigo LTD.To start launching its new insurance services next year 2021 in the British market.
Mark Klein Mann, commercial advisor at City Am, said in a statement to reporters in London that the Qatar Sovereign Fund constitutes the largest sector in the Consortium with 5 other international institutions to acquire this British insurance institution, and to form the largest commercial entity in the field of insurance during The current decade in the United Kingdom, and “Kleinman” explained that the new investment consortium is the largest investment consortium to buy an institution in Britain, as it includes all 6 international commercial institutions, and they participate in the acquisition of this British institution by pumping the deal funds to support it in the field of insurance operations. Which will be launched next year, and added that after obtaining the final approval from the British Insurance Authority, “Lloyd’s of London”, the acquisition process is going on from a legal and administrative point of view during the coming period and before birthdays.However, investors, including the Qatar Sovereign Fund, will enter the British market with a huge entity that will allow them to build a distinguished network of clients by the beginning of next year 2021.