Congregational & General Insurance (CGI) has sold the majority share of its MGA arm, Integra Insurance Solutions, to the Hannover Re Group.
Integra will still be managed and serviced by CGI and will stay under the sole ownership of the Congregational & General Charitable Trust.
CGI chief executive Carlo Cavaliere said: "We have a solid, longstanding relationship with the Hannover Re Group, embracing reinsurance and, since its launch early last year, the underwriting capital for Integra."
Hannover Re executive board member Juergen Graeber said: “We are delighted to have secured the investment in Integra, which will enable us to underwrite a significant share of profitable home business and also to develop new initiatives with our partners at Congregational."
FSA approval for the transaction has been granted.
No comments yet