Lloyd’s syndicate, Marsh partner on UK shareholder activist coverage

Volante Lloyd’s Syndicate 1699, managed by Asta Managing Agency Ltd., said Wednesday it has partnered with Marsh LLC to develop a coverage for listed companies in the United Kingdom facing shareholder activist activity.

Available to companies operating across all sectors with a market capitalization of between $5 million and $10 billion, the Shareholder Activist Protection Insurance will provide limits of between $1 million and $6 million.

The policy will cover the costs a company incurs to defend against a shareholder activist campaign, including fees related to the appointment of legal, consulting and communications specialists, and any proxy costs.

Rollout in the European Union is planned for the second quarter.