Cathedral Capital will not make an offer to buy out the remaining individual investors after the Lloyd's insurer was sold to private equity firm, Alchemy Partners.
It is the first time a private equity provider has entered the Lloyd's underwriting market.
The managing agent told Insurance Times that despite being bought for £113m, it had no immediate plans to make an offer to buy out any of the third party capital on its Syndicate 2010.
Peter Scales, chief execu-tive of Cathedral Capital, said: "If an opportunity becomes available and economically it makes sense to look at it then we will.
"But, we have no burning desire to make an offer to buy out the remaining third party capital, and the Alche-my deal does not change that."
Cathedral, which currently owns 56% of the syndicate's £300m capacity with the remaining share owned by individual names, said it also had no intention of altering the investment arrangements it has on syndicates managed by other agents.
Scales added that it had taken a "tactical" decision to reduce its participation on external syndicates to just one for 2007.
