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Benfield, the London-listed reinsurance group, is to be acquired by Aon of the US for £844m.
Benfield, the reinsurance company, is looking to relocate its headquarters from the existing 100,000 sq ft office in Bishopsgate to a 150,000 sq ft site.
Benfield has sold Wildnet Group, a subsidiary that provides technology solutions to the insurance and reinsurance industry, to a consortium of private investors for a nominal sum.
Benfield is planning to raise £100m in a flotation in order to reduce debt and fund the expansion of its reinsurance business through a series of acquisitions.