Pembroke Managing Agency, the London-based underwriter, is being placed under strategic review by Liberty Mutual Insurance.
The insurer released a statement today outlining its decision but offering no further details “until its completion.”
Pembroke was acquired by Liberty back in May 2017 as part of its Ironshore purchase. It has hubs in the US, Middle East and Asia, with specialist products offered through company paper and Lloyd’s Syndicate 4000. It also offers managing agency services to third party capital supported syndicates.
According to the release, Evercore will serve as adviser through the process.
We’ll bring you more details as they become available.