Capsicum Reinsurance Brokers LLP (“Capsicum Re”) is pleased to confirm it has agreed and signed heads of terms with Arthur J. Gallagher & Co. (“Gallagher”), with a view to Gallagher increasing its investment in Capsicum Re to 100% ownership. The parties will now continue their exclusive negotiations. Any deal remains subject to the receipt of necessary approvals and the execution of relevant agreements and the parties will not be commenting further at this stage.
