Risk and Reinsurance Solutions (2RS), a subsidiary of the Siaci Saint Honore Group, is set to strengthen its captive insurance and reinsurance management services with the acquisition of Sogecore.
The deal will see 2RS acquire the Luxembourg client portfolio of insurance and reinsurance captives from Sogecore SA and Sogecore France SARL.
In addition, Sogecore has made a commitment to invest the full amount of this transaction in 2RS capital, to become a 10 percent shareholder.
The deal is set to create a captive management leader in Continental Europe, providing companies with solutions for the financing and management of risks likely to affect their assets.
It will also see 2RS become the first and only independent captive manager present in France with a service offering, designed particularly for French companies.
Christian Burrus, who has been managing Burrus Group for 25 years, said: “The Sogecore teams are delighted to join the Siaci Saint Honore Group through its subsidiary 2RS. We will be able to combine our strengths to offer ever more innovative solutions in this specialist market.”
Pierre Donnersberg, chairman of the Siaci Saint Honore Group, explained that Sogecore’s expertise will strengthen the insurance and reinsurance captive business within its subsidiary.
Donnersberg added: “This partnership with an entity of the Burrus Group is the result of full cooperation between our two groups and I am confident in our shared ability to create value for our shareholders and employees.”
2RS manages over 50 captives and is also present in Malta and Switzerland.