The Benfield group, a leading independent reinsurance and risk intermediary, announced that it has acquired the entire issued share capital of Parisco AS and its subsidiary Parisco Marine AS, the Norwegian marine and energy insurance broker.
“Parisco AS will become part of Benfield’s corporate insurance broking division, Benfield Corporate Risk,” said the bulletin. “Parisco AS had net assets of NOK 1.9 million (approx.£200,000 [$374,000]) as at 31 December 2005.”
Benfield’s Chief Executive Grahame Chilton commented: “Our acquisition of Parisco AS will provide us with an excellent opportunity to further grow our corporate insurance broking business in the Norwegian marine, energy and oilfield services market, and further enhance the range of services we offer to customers in the corporate sector. This transaction is in line with our intention to make selected strategic acquisitions which complement our existing operations.”
Topics Mergers & Acquisitions
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