SOBC Sandell has completed the acquisition of American Safety Risk Retention Group (RRG) after receiving regulatory approval from the Vermont Department of Financial Regulation.
American Safety marks SOBC Sandell’s sixth acquisition.
Stephanie Mocatta, CEO of SOBC, said: “This acquisition builds on the recent transaction in Montana and we are very pleased to be able to provide finality to RRGs in these states.”
“SOBC Sandell has the specialist skills and understanding that enables us to purchase these groups, allowing the previous owners to exit without any future liability. We are actively looking at other opportunities to work with RRGs and captives.”
Rick Ecklord, senior managing director and partner at Sandell Re said: “We are really pleased with the growth in the group and more particularly the team’s ability to provide solutions for complex, difficult or challenging insurance situations, through the provision of innovative solutions.”
