The Bermuda-based Armour Group announced that an affiliate has completed a majority investment in Armour Intelligence Limited, a UK-based service, created by its founder and CEO, former Brigadier David Montgomery, to specialize in the detection and deterrence of fraudulent activity.
“Armour Intelligence’s initial focus is on working with insurers to detect fraud in claims and other areas of the insurance marketplace, as well as the provision of security and risk reviews to commercial and public sector clients,” the announcement said.
In addition the bulletin noted that “Armour Intelligence, with its strong links to ex-military personnel, is uniquely placed to capitalize on the skills, expertise and approach of military trained specialists, all of whom are vastly experienced in investigative work.”
Armour Group Chairman & CEO Brad Huntington stated: “We are very excited about the prospects for growth in the service niche identified by Armour Intelligence. Fraud in the insurance markets is one of the primary reasons behind current claims inflation and has resulted in higher premiums for all consumers. This is a very timely opportunity and we look forward to working closely with David Montgomery in scaling and developing this business.”
Armour Group is a Bermuda based group of insurance, reinsurance, investment management and service companies which specialize in the creation and implementation of solutions and acquisitions within the distressed, discontinued and other specialty sectors of the global insurance and reinsurance marketplace. Its principals, Brad Huntington and John Williams have more than 50 years combined experience in the insurance and reinsurance markets.
Source: Armour Group