Strategy International Insurance Group Inc., a provider of specialty lines of insurance, reinsurance and structured risk underwriting focusing on credit risk and credit enhancement, offered an update concerning its plan to acquire RS Group of Companies.
As previously announced by the company on Dec. 17, 2004, Strategy International intends to enter into an agreement that will result in RS Group becoming a wholly-owned subsidiary of Strategy International. The proposed acquisition is part of Strategy International’s ongoing plan to deliver value to its risk-management customers across multiple distribution channels.
Strategy International anticipates to receive the independent valuation of RS Group in the near future and to finalize the deal structure of the acquisition shortly thereafter.
Stephen Stonhill, CEO and president of Strategy International Insurance Group Inc. stated, “We are taking the necessary steps to ensure the planned acquisition of RS Group moves forward and we expect to complete the merger in a timely manner. We believe the combined strength of underwriting expertise and product knowledge of the two companies will allow management to fulfill its operational objectives.”