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Hamilton confirms acquisition of Sportscover Underwriting legacy book

Hamilton Underwriting Ltd. announced that Syndicate 3330 has been successful in its bid to acquire the legacy book that Hamilton Insurance Group Ltd. inherited when it purchased Sportscover Underwriting Ltd. in April 2015.

Subject to customary regulatory approvals, a reinsurance to close to oversee the transfer of Syndicate 3334's 2014 and all prior years of account will be effective from Dec. 31. The deal is expected to close in early 2018.

Syndicate 3330 received capital from R&Q and AXA DBIO and was managed by Coverys Managing Agency in connection with the deal.