CINCINNATI FINANCIAL ACQUIRES MSP UNDERWRITING IN UK

US property/casualty group Cincinnati Financial has completed its £102m acquisition of London-based MSP Underwriting from Munich Re. MSP is the holding company for Beaufort Underwriting Agency, which operates underwrites through Lloyd’s syndicate 318. The syndicate posted around £182m in gross written premiums last year. As a wholly owned subsidiary of Cincinnati Financial, MSP Underwriting will continue to operate under its existing management team