Rear and Allen SPAC targets £1bn listed Lloyd’s vehicle through London Bridge 2

21 June 2023

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A photograph of the Lloyds Building in London from ground up

Financials Acquisition Corp, the special purpose acquisition company (SPAC) founded by William Allen and Andrew Rear, is targeting a merger to become a listed Lloyd’s vehicle with access to £1bn ($1.3bn) of capacity.

In a stock exchange update, the company said it was planning to utilise the London Bridge 2 framework to provide access to institutional capital to the market for reinsurance purposes.

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Rear and Allen SPAC targets £1bn listed Lloyd’s vehicle through London Bridge 2

Financials Acquisition Corp, the special purpose acquisition company (SPAC) founded by William Allen and Andrew Rear, is targeting a merger to become a listed Lloyd’s vehicle with access to £1bn ($1.3bn) of capacity.

Fuel a smarter strategy with our actionable market intelligence

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Rear and Allen SPAC targets £1bn listed Lloyd’s vehicle through London Bridge 2

Financials Acquisition Corp, the special purpose acquisition company (SPAC) founded by William Allen and Andrew Rear, is targeting a merger to become a listed Lloyd’s vehicle with access to £1bn ($1.3bn) of capacity.

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Fuel a smarter strategy with our actionable market intelligence

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Twia to target 43% more limit at $5.8bn on exposure growth and Beryl losses

Allstate pegs October cat losses at $226mn post-tax

Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM

Rokstone partners with NormanMax to launch parametric product

RenRe grows partner capital AuM to $7.72bn