Insurer Inigo raises $800 million from investors including QIA, CDPQ

LONDON (Reuters) - Newly formed Lloyd’s of London insurer Inigo said on Monday it had raised $800 million from a group of investors including Qatar Investment Authority and Canada’s Caisse de dépôt et placement du Québec.

Inigo, founded by a group of former Hiscox executives, said the funds would help it to open for business in 2021, subject to approval from Lloyd’s.

The company said it had appointed Natwest Chairman Howard Davies as chairman of the company.

Inigo also said it had agreed to buy assets from StarStone Underwriting, including its Lloyd’s Syndicate 1301, from Enstar Group, subject to regulatory approvals.

“These are intended to form the foundation for Inigo’s operations as a specialty insurer, writing a streamlined portfolio of insurance and reinsurance risks. No legacy underwriting will be transferred to Inigo,” it said.

Reporting by Simon Jessop, editing by Huw Jones