INIGO COMPLETES ACQUISITION OF STARSTONE UNDERWRITING

Start-up re/insurer Inigo has completed the acquisition of managing agent StarStone Underwriting and the rights to operate syndicate 1301. In addition, the Prudential Regulation Authority has issued a change of control approval, completing the creation process of Inigo, the company said. Inigo launched in November last year with a capital raising of $800m and is funded by blue chip international investors and the management team. Lloyd’s gave Inigo the green light to begin operating from January this year with a $400m stamp capacity, aiming for a book of equal parts insurance and reinsurance. “Our plan remains to grow in our chosen areas, focusing on those lines where we can underwrite well and where our capacity is valued,” Richard Watson, Inigo’s chief executive, said.