Advantage Insurance Management USA (AIMUSA) has agreed to acquire the insurance management business of Captive Experts.
As part of the deal, Captive Experts will transfer management of the Harbor Risk Pool Association and a portfolio of captive insurance entities to AIMUSA. The financial terms of the acquisition, which is subject to regulatory approval, were not disclosed.
Following the transfer of the Harbor Risk Pool Association and the individual captive insurance entities, which is expected to be completed this month, Captive Experts will focus on its core business of providing consulting services to business owners throughout the US.
Tom Cifelli, owner of Captive Experts, commented: “I have known Simon Kilpatrick and the Advantage team for many years and have great confidence that they will provide excellent service to our mutual clients. By transitioning its day-to-day captive management duties to Advantage, Captive Experts will be able to dedicate itself to its core captive insurance consulting business.”
Kilpatrick, president of AIMUSA, added: “The transition to Advantage will deliver an expanded range of insurance capabilities to Captive Experts’s clients, while providing Advantage’s clients access to a proven, diversified risk pool.”
