London Stock Exchange welcomes Financials Acquisition Corp to the Main Market
London Stock Exchange welcomes Financials Acquisition Corp, a special purpose acquisition vehicle sponsored by FINSAC, to the Main Market under the ticker symbol FINS and FNWR
Founded by William Allen and Andrew Rear, who have significant experience as senior executives in insurance and financial services and a strong track record of delivering returns through investing in and growing insurance companies, FINSAC will target technology-enabled opportunities in the insurance or broader financial services industry.
Technology has transformed every facet of consumer and business life, but the insurance industry has been one of the slowest to leave behind its legacy systems. Now, tech-enabled insurers are disrupting traditional insurance markets and experiencing rapid growth. The FINSAC team believes this changing technology has created an opportunity for new winners to emerge across four broad sections:
- Insurtech managing general agents (MGAs) and similar product providers;
- Fintech, Insurtech and Regtech, software as a service;
- Technology-enabled distribution; and
- Technology-enabled London market participants.
FINSAC believes that it can offer a more efficient, more attractive and smoother path to being a public company. At the same time, the company believes that the experience and skill set of the management team and the sponsor team can add value to the target company beyond the acquisition through M&A, capital structuring, capital raising, digital marketing, and investor relations expertise.