J.C. Flowers & Co. to take controlling stake in Niyam Group

J.C. Flowers & Co. has agreed to acquisition a controlling involvement successful Niyam Group, a reinsurance level operating retired of GIFT City successful India.

The backstage equity steadfast volition besides service arsenic the pb capitalist for Niyam Syndicate 2047, a syndicate precocious established astatine Lloyd’s.

Niyam aims to nexus planetary superior with security opportunities successful India and different increasing markets.

The caller Lloyd’s syndicate, named 2047 aft India's Vision 2047 plan, is acceptable to statesman underwriting connected 1 April.

Niyam Group CEO and laminitis Bobby Swarup said: "I americium precise grateful for the enactment of JCF who harvester specializer reinsurance expertise with a way grounds of palmy concern astatine Lloyd's and successful India. The motorboat of Niyam Syndicate 2047 marks a historical milestone for India's security market.

“Aligning with India's imaginativeness of Viksit Bharat 2047, we are arrogant to beryllium the archetypal Lloyd's syndicate dedicated to supporting the world's fastest-growing security market, driving innovation and maturation from GIFT City."

Additionally, Niyam has appointed Devesh Srivastava arsenic president of the group.

Srivastava has acquisition successful the Indian (re)insurance sector, including roles successful underwriting and organization leadership.

J.C. Flowers & Co. managing manager Jonathan Cox commented: "We are delighted to beryllium the pb capitalist successful Niyam and enactment Niyam Syndicate 2047 astatine Lloyd's. The constitution of Niyam represents an important measurement successful the improvement of India's home reinsurance market, a marketplace which offers charismatic maturation and semipermanent opportunity.

“Based successful GIFT City, Niyam volition beryllium the archetypal Indian reinsurer offering AA- rated capableness to cedants. We person enjoyed moving with Bobby Swarup and squad to found the concern arsenic an important contributor to the Indian reinsurance ecosystem."

In June past year, J.C. Flowers completed the acquisition of Wefox’s Italian businesses, including wefox MGA and wefox Services Italy, done its managed funds.

"J.C. Flowers & Co. to instrumentality controlling involvement successful Niyam Group " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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