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Ascot US Holding to acquire Greyhawk Insurance, unit

Ascot US Holding Corp. will acquire Greyhawk Insurance Co. and unit Greyhawk Specialty Insurance Co.

Financial terms of the deal were not announced and the transaction is subject to regulatory approvals.

The Greyhawk companies will expand Ascot's U.S. platform.

Greyhawk Insurance is a Colorado-domiciled admitted lines insurer and has been in runoff since 2006. Greyhawk Specialty is a dormant Rhode Island-domiciled excess and surplus lines insurer.

Ascot Group is owned by the Canada Pension Plan Investment Board.