Kiln expands in Asia

HONG KONG—Kiln P.L.C. has acquired Hong Kong-based underwriting agency International Reinsurance Services Ltd.

Kiln said it would rename the unit Kiln Asia Ltd.

IRS operates throughout the Asia Pacific region and covers property, marine cargo and petrochemical industry risks, Kiln said in a statement.

Tony Weinert-Aplin, who founded IRS, will become Kiln Asia's regional director of business development.

Kiln will pay an initial consideration of $1.12 million (€877,000) and an estimated $1.25 million (€979,000) deferred payment over the next five years.