Lloyd’s insurer Apollo Group Holdings has received a $90m investment boost from Alchemy Partners, to support future growth of its hybrid business model, while providing syndicate management services for third parties and its own (re)insurance underwriting operations at Lloyd’s.
David Ibeson, Apollo CEO, said: “We are delighted to be forming this new partnership with Alchemy. It reinforces our belief in the continued opportunity provided in the Lloyd’s market. The investment by Alchemy underscores the benefits to our clients and partners of our experienced and talented team.”
Alchemy said the Lloyd’s insurance market “continues to offer an excellent investment opportunity”.
Dominic Slade and Toby Westcott, partners at Alchemy, said: “Working alongside talented management teams is a central component of our approach to create and grow value and we are excited to be partnering with the Apollo team.”