Home Breaking News Willis Towers Watson places cover for LSE’s first SPAC

Willis Towers Watson places cover for LSE’s first SPAC

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Hambros Perks Acquisition Company, the first special acquisition company (SPAC) listed on the London Stock Exchange, has ticked its insurance box with the help of Willis Towers Watson (WTW).

In a release, the broking giant said it had secured the insurance placement of the investment vehicle, the goal of which is to raise up to £150 million through the listing.

SPACs, as noted by WTW, raise money on stock markets to purchase private businesses that are then provided an easy route to gain a listing instead of via the initial public offering track.

“Up until recently, London and the EU (European Union) have not seen the same volume of SPACs as the US, and I am delighted that we have placed the first listing of an SPAC on the London Stock Exchange,” said WTW global head of FINEX (financial lines and executives risk) Jeremy Wall.

“This is a significant placement for Willis Towers Watson and demonstrates the depth and specialist knowledge of our global FINEX team. We see significant opportunities in this area and have initiated a SPACs taskforce to respond to increasing client demand.”

Hambros Perks Acquisition Company will be focussing on high-performing technology firms, with targets of at least £800 million.

https://www.insurancebusinessmag.com/uk/news/breaking-news/willis-towers-watson-places-cover-for-lses-first-spac-319333.aspx