25 May 2012

Lloyd's group takes AIM

04/09/2007 Robert Tyerman

As forecast here in July, Hampden Underwriting has floated on AIM after raising £5.2 million at £1 a share.

Hampden Underwriting was set up by insurance entrepreneur Tim Oliver, whose powerful Hampden Group agency represents half the capital providers in the Lloyd’s insurance market. Chaired by Oliver’s brother, Sir Michael Oliver, a former Lord Mayor of London, and with senior Hampden figure Nigel Hanbury as chief executive, the new company will acquire participations in Lloyd’s underwriting syndicates in the current round of syndicate capacity auctions.

Hampden Underwriting will also offer to buy Lloyd’s underwriting vehicles, ‘NameCos’, set up by individual syndicate backers and invest in other Lloyd’s ventures such as new companies set up by underwriting teams. Smith & Williamson is broker, nominated adviser and ‘promoter’ to the company, whose shares eased this morning to a modest discount at 99.5p.

Sector: Nonlife Insurance

Companies: Hampden Underwriting

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