Bermuda-based Multi-Strat has acquired its first US-based business, a Maryland-domiciled consultancy.
Annapolis Consulting Group provides reinsurance and finality solutions for captives and corporate self-insureds and specialises in the resolution of costly legacy claims and captive run-offs.
As part of the transaction, MultiStrat will also acquire ACG Brokerage (Bermuda).
Bob Forness, MultiStrat Re’s chief executive officer (CEO), said: “MultiStrat is excited to welcome the Annapolis team to our group of specialty reinsurance and advisory services companies. Annapolis’ expertise, knowledge and relationships will be essential to MultiStrat Group’s design and delivery of cost effective risk protection, capacity and legacy solutions for the captive market.
“Annapolis will be MultiStrat’s first US-based business, and the addition of ACG’s legal, claims, auditing and runoff acumen will add significantly to our overall capabilities.”
Sean Logan, CEO of Annapolis Consulting Group, said: “ACG has a strong history of providing responsive and innovative solutions to what are often complex reinsurance challenges. Teaming with MultiStrat will provide ACG with access to tools that will multiply our effectiveness.”