Kiln subsidiary Kiln SA has acquired a 25% stake in International Marine Insurance Managers SA (International Marine).
International Marine, an established presence in the South African cargo and hull markets, will operate as an extension of Kiln's Marine and Special Risks Syndicate 510.
Syndicate 510 active underwriter Charles Franks, said: “International Marine is an extremely well-regarded marine underwriter in the South African market.
“We have been working together for some time now and are delighted to formalise our relationship with them.
“Our track record to date has been excellent, and we look forward to tapping into the many new business opportunities that this partnership brings.”
Kiln said it has been underwriting in South Africa through the Lloyd's market for over 40 years, and established offices in Johannesburg in 1999.
As part of the deal Kiln SA managing director, Alan Morgan, joins the board of International Marine with immediate effect.
