Artex to rebrand cell facility providers
Artex plans to rename all of its cell facility providers with the name Artex Axcell. The rebranding will take place over the next several months.
“The creation of Artex Axcell is the result of a rationalisation effort that will be phased across jurisdictions and will drive a consistent global approach,” said Peter Mullen, global CEO, Artex. “The new cell facility name is designed to highlight our best-in-class offering and build upon the strength and reputation of the Artex brand to entities across the US, Cayman, Bermuda and Guernsey.”
Cell facilities can be used for a variety of purposes including gaining greater re/insurance and capital market access, providing flexibility in coverage, filling gaps in commercial policies, creating new revenue streams, as an alternative to an owned captive and as a captive exit strategy, the company said.
The company said the name was derived from the words "accelerate" and "cell" and represented a united, global approach for clients which would reduce costs and help investors seeking transformer structure.
Artex, Gallagher's wholly-owned subsidiary for alternative risk and capital, is established in more than 35 domiciles internationally.