IQUW, or what used to be known as Arcus 1856, is looking to snap up fellow Lloyd’s business Agora Holdings, which provides underwriting services to Syndicate 3268.

In a release, the recently rebranded property, commercial, and specialty (re)insurer revealed: “Discussions to close the transaction are advanced and expected to complete in the coming days, subject to regulatory and Lloyd’s approval.

“The proposed transaction will see Agora’s property insurance and reinsurance businesses form part of IQUW’s portfolio and the Agora team join the IQUW property insurance and reinsurance teams, headed by incoming head of property Simon Jackson and reinsurance CEO Stephen Young, respectively.”

According to IQUW, the combination will accelerate its strategy to deliver a full-service property proposition alongside the company’s continued build-out of commercial and specialty.

IQUW, however, added: “At this stage, there can be no assurance that any agreement will be reached or that a transaction will be consummated. Further updates will be provided when available.”