View this article online: https://www.insurancejournal.com/news/international/2019/10/04/544438.htm
Artex Risk Solutions, the captive and alternative risk management solutions subsidiary of Arthur J. Gallagher & Co., announced it has reached agreement to acquire Horseshoe Insurance Services Holdings Ltd., which will strengthen its insurance-linked securities (ILS) operations.
The transaction is subject to regulatory approval and expected to complete before the end of the year. Financial details of the deal were not released.
Horseshoe specializes in providing insurance management, fund administration, advisory and corporate services to ILS and alternative fund markets. Founded by Andre Perez in 2005, Horseshoe is headquartered in Bermuda and has operations in London, Grand Cayman, Sri Lanka and Charlotte, N.C.
Upon completion, Perez and his associates will continue to operate from their current locations under the direction of Peter Mullen, CEO of Bermuda-based Artex.
“The combination of the Artex and Horseshoe teams and technology will provide our clients with the opportunity to find all insurance management, fund administration and advisory services under one roof,” commented Mullen. “Andre and his team mirror our culture at Artex. They will be a terrific fit and will help further our goal of becoming the best service provider to the world’s risk capital.”
“Horseshoe Insurance Services brings us deep market expertise and service offerings within the ILS market – a critical business segment – which will enhance the value we deliver to our existing client base,” said J. Patrick Gallagher Jr., chairman, president and CEO of Rolling Meadows, Ill.-headquartered Arthur J. Gallagher & Co.
Upon completion, Horseshoe will become the global brand of ILS services for Artex, which will operate as one global team across multiple jurisdictions to better serve its clients and provide consistent delivery of services regardless of the domicile.
“We are excited to join forces with Artex,” said Horseshoe’s CEO Perez. “For more than 14 years Horseshoe has been the leader in the ILS services industry and together we will have quite a formidable team dedicated to servicing the ILS market. Being part of a larger organization will give us the opportunity to better serve our clients by accessing worldwide resources, and accelerating the development of bespoke solutions and products for ILS.”
Source: Artex Risk Solutions