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Tawa plc ("Tawa" or the "Group"), the quoted insurance investor, today announces that following regulatory approvals from the Pennsylvania Department of Insurance, it has completed its acquisition of 51% of the issued shares of US holding company, LGIC Holdings, LLC as announced on 7 April 2011.
This transaction is the latest in a series of Tawa acquisitions. While affirming the US acquisition strategy announced earlier this year, it consolidates the group servicing capabilities. Following acquisitions of Pro and Chiltington in addition to the consortium purchase of Whittington UK, Lincoln General provides an 80 staff administration platform capable of servicing from the US the Tawa portfolios, third parties business recently won by Pro, and new US business. |
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