General Re pays pounds 100m for DP Mann
Wednesday 04 November 1998
The takeover will give General Re its first exposure to the Lloyd's of London insurance market. DP Mann will benefit from an increase in its capital strength. "This deal is about giving us the strength that comes from being part of a major international insurance group,'' said David Mann, the founder of DP Mann, which has had a working relationship with General Re for 14 years. While huge claims almost caused the collapse of Lloyd's in the early 1990s, DP Mann has been profitable every year since it was founded in 1984.
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