Bermuda-based Ariel Holdings, Ltd. announced it will acquire a Lloyd's syndicate manager.
Ariel said it will acquire London-based Atrium Underwriting Plc, a publicly traded company that manages Lloyd's Syndicates 570 and 609.
A.M. Best Co. placed the financial strength and credit ratings of both the Ariel holding company and reinsurance subsidiary under review with negative implications after Friday's acquisition announcement.
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