Lennox Investments LLC, an investment group focused on financial services businesses, announced plans to acquire Southport Re(Cayman) Ltd. (SPRC), a Cayman Island-domiciled property/casualty reinsurance company.
Established in 2012, SPRC wrote approximately $32 million in gross premiums in 2013. SPRC focuses primarily on underwriting long-tail lines of property/casualty reinsurance, and is oriented toward high-frequency, low-severity risk classes, primarily within the U.S. and Europe.
SPRC is being acquired from Southport Lane Genesis, L.P., a limited partnership managed by Southport Lane Management, LLC.
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