Arthur J. Gallagher & Co. announced its captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions Inc., has completed its purchase of Bermuda-based Horseshoe Insurance Services Holdings Ltd.
Financial terms of the deal, which was first announced in October 2019, were not disclosed.
Artex said this acquisition significantly strengthens its insurance-linked securities (ILS) operations.
The company said that 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.
Andre Perez and his associates will continue to operate from their current locations under the direction of Peter Mullen, CEO of Artex.
Both Arthur J. Gallagher and Artex are headquartered in Rolling Hills, Ill.
Source: Arthur J. Gallagher & Co. and Artex
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