IGI walks away from SPA plans

International (re)insurer International General Insurance (IGI)
has decided to postpone its plans to set up a Lloyd's special
purpose arrangement (SPA) owing to the state of the market and
timing issues.
IGI had been in conversations with managing agent Argo about
establishing an SPA during the final quarter of the year, but
ultimately decided to abandon the project at the end of 2016.
Speaking to The Insurance Insider, IGI
president Waleed Jabsheh said: "Lloyd's is still being
considered by IGI