ROLLING MEADOWS, Illinois,
Oct. 3, 2019 /PRNewswire/
-- Arthur J. Gallagher & Co. today announced that its
captive and alternative risk transfer solutions subsidiary, Artex
Risk Solutions, has signed an agreement to acquire Horseshoe
Insurance Services Holdings Ltd. The acquisition is subject to
regulatory approvals and is expected to close in the fourth quarter
of 2019.
Founded in 2005 and headquartered in Bermuda, Horseshoe is the largest independent
company providing insurance management, fund administration,
advisory and corporate services to the insurance-linked securities
(ILS) market. The firm, which also has offices in London, Cayman, Sri
Lanka and Charlotte, N.C.,
has additionally developed customized, integrated technology
solutions to enhance its core customer value proposition and
support clients operating in the ILS segment. Andre Perez and his associates will continue to
operate from their current locations under the direction of
Peter Mullen, CEO of Artex Risk
Solutions.
"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 Arthur J. Gallagher & Co. "I would like to
extend a warm welcome to Andre and his associates on behalf of our
growing global team."
"The Horseshoe team shares our company's deep culture of
innovation, teamwork and responsive customer service. Together, we
have the opportunity to solidify our market-leading position as the
largest provider of solutions to the ILS market," said Peter Mullen, CEO of Artex, noting that
Horseshoe will become the global brand of ILS services for
Artex.
"We are excited to join forces with Artex and Gallagher. Being
part of a larger organization will give us the opportunity to
access worldwide resources and accelerate the development of
bespoke solutions and products for ILS," said Andre Perez, CEO of Horseshoe. "Our goal has and
will always be to add value to our clients. Together we will have
quite a formidable team dedicated to the ILS market."
Arthur J. Gallagher & Co.
(NYSE:AJG), a global insurance brokerage, risk management and
consulting services firm, is headquartered in Rolling Meadows,
Illinois. The company has operations in 42 countries and
offers client service capabilities in more than 150 countries
around the world through a network of correspondent brokers and
consultants.
Investors: Ray
Iardella
|
Media: Linda J.
Collins
|
VP – Investor
Relations
|
VP – Corporate
Communications
|
630-285-3661/ ray_iardella@ajg.com
|
630-285-4009/ linda_collins@ajg.com
|
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