Artex Risk Solutions has reached an agreement to acquire Horseshoe Insurance Services in a move it said will significantly strengthen its insurance-linked securities (ILS) operations.
Horseshoe specialises in providing insurance management, fund administration, advisory and corporate services to insurance-linked securities (ILS) and alternative fund markets. It is headquartered in Bermuda, with operations in London, Grand Cayman, Sri Lanka and Charlotte.
The deal will make Horseshoe the global brand of ILS services for Artex, operating as a single, global team. Andre Perez, Horseshoe’s CEO, will continue to oversee Horseshoe under the direction of Peter Mullen, CEO of Artex.
The transaction is subject to regulatory approval and expected to complete before the end of the year.
Mullen said: ”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.”
Perez said: “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.”
Artex Risk Solutions, Horseshoe Insurance Services, Andre Perez, Peter Mullen