The operation is scheduled to begin underwriting commercial property coverage during Q4 2026.
The takeover encompasses Austral's casualty, financial lines and surety businesses.
The wholly owned subsidiary of Hong Kong-listed insurance company FWD Group will purchase 429,315 ordinary shares.
The MoU creates a mutual structure designed to mitigate commercial investment risks while closing protection deficits.
The US-based underwriter funded the deal by expanding its existing debt facility with Ares Management.
