Lloyd’s broker Tysers, which recently completed its acquisition of Risk Transfer Group, has been a busy bee.
It was in August 2019 when the London-based business unveiled its Bermuda affiliate… now Tysers has announced its minority investment in Helix Underwriting Partners Limited, the first independent managing general agent in Bermuda.
“As we enter the 200th year of Tysers’ existence, we are delighted to be partnering with Helix Underwriting Partners,” noted Tysers Bermuda Limited managing director Richard Tomkins.
“In the latter half of 2019 we observed and had dialogue with Helix during its formation and realised they would be a great fit for our stated independent strategy. The founders of Helix have many years of experience within the industry, across multiple disciplines, and have all the necessary skills to make the business a success.”
Meanwhile the investment amount was not disclosed.
Lifting the lid on the deal, Helix president Claude Lefebvre said: “During our formation process, we reviewed capital propositions from several interested parties. Tysers emerged as an optimal strategic partner for Helix; its goal to be a leading independent brokerage and service firm aligns well with the profile of our business.
“Helix has collaborated closely with the Tysers management team throughout this process. We appreciate this strategic investment from Tysers and the additional access to capital as we fully launch Helix with our business partners.”
The multi-line MGA was incorporated in December 2018.
