The club manager is buying a majority shareholding in Osprey Holdings, the company that owns Osprey Underwriting.
Osprey offers up to $500m of P&I cover on Lloyd’s security, and is one of a small number of fixed premium schemes prepared to accept US business, although limits of cover for such risks are much lower.
The deal is part of a trend for P&I clubs or their managers to be also active in offering P&I cover on non-mutual fixed premium terms.
The
