Wisdom International Corporation, a diversified holding company based in Salt Lake City, Utah, announced today that it has reached an agreement to purchase the remaining ownership shares of International Reinsurance, Ltd., Wisdom’s Nevis based reinsurance company, from Norwich Management Company of Norwich, England.
Wisdom Chairman and CEO Michael Merservy of noted: “We are pleased that Norwich has expressed the continued confidence in our management and business plan, electing to take stock as consideration for the final piece of their holdings.”
Norwich Management Company is an international insurance broker and consultant, headquartered in the UK. Norwich has represented a diverse client base and is active in all aspect of risk management, underwriting and marketing. Peter Greengrass, CEO of Norwich noted: “We like what we see at Wisdom and think that the growth opportunities are significant. They will be good partners.”
Wisdom is a diversified holding company. Its reinsurance activities are conducted through its subsidiary, International Reinsurance Company, Ltd., with offices in Nevis, West Indies, Norwich, England and Dallas, Texas.
Topics Reinsurance
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