![[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!](https://businessfortnight.com/wp-content/uploads/2025/10/Toyota-Times-Century-as-a-Brand-Lexus-as-Innovation-All-218x150.jpg "[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!")
By Elena Vardon
Financials Acquisition said Wednesday that it intends to raise substantial funds to support a business combination it has identified through which it would become a listed operating company deploying funds into the Lloyds of London insurance market for reinsurance purposes.
The special purpose acquisition company–which listed in London in April 2022–said it expects to access up to 1 billion pounds ($1.28 billion) of capacity into the 2024 underwriting year, noting that the portfolio is expected to have a lower level of natural catastrophe exposure, particularly in the U.S.
Financials Acquisition is seeking to extend the deadline by which it may complete a business combination to Dec. 31 and will hold an extraordinary general meeting on July 10 to get shareholder approval, it said, noting that cornerstone investors have indicated they would be supportive of the proposed transaction.
Proposals for the combination with the target company are at an early stage and there is no certainty a transaction can be completed, but the group is confident the extension will allow it to close this or another business combination, it added.
Write to Elena Vardon at [email protected]
