Artex Risk Solutions has reached an agreement to acquire Horseshoe Insurance Services Holdings in a bid to strengthen its insurance linked-securities (ILS) operations.
Horseshoe, which was founded by Andre Perez in 2005, specialises in providing insurance management, fund administration, advisory and corporate services to ILS and alternative fund markets.
Its headquarters are located in Bermuda, while other offices are based in London, Grand Cayman, Sri Lanka and Charlotte, North Carolina.
Once the deal is complete, Perez and his associates will continue to operate from their current locations under the direction of Peter Mullen, CEO of Artex.
In addition, after completion Horseshoe will become the global brand of ILS services for Artex.
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. Andre and his team mirror our culture at Artex. They will be a terrific fit and will help further our goal of becoming the best service provider to the world’s risk capital.”
Perez added: “We are excited to join forces with Artex. For more than 14 years Horseshoe has been the leader in the ILS services industry and together we will have quite a formidable team dedicated to servicing the ILS market. Being part of a larger organisation 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.”
