Arthur J. Gallagher & Co. has announced that its captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions, has completed its acquisition of Horseshoe Insurance Services Holdings Ltd.
Horseshoe is a Bermuda-headquartered provider of insurance management fund administration, advisory and corporate services to the insurance-linked securities (ILS) market.
The firm, which has additional offices in London, Cayman, Sri Lanka and Charlotte, N.C., has also developed technology solutions to enhance its customer value proposition and support clients operating in the ILS segment.
The acquisition was originally announced in October 2019 and is expected to significantly strengthen Artex’s ILS operations.
Going forward, Horseshoe will become the global brand of ILS services for Artex, operating as one global team across multiple jurisdictions to provide consistent delivery of services regardless of the domicile.
Horseshoe CEO Andre Perez and his associates will continue to operate from their current locations following the transaction, under the direction of Peter Mullen, CEO of Artex.
“Horseshoe Insurance Services brings us deep market expertise and service offerings within the ILS market – a critical business segment – which will enhance the value we deliver to our existing client base,” said J. Patrick Gallagher, Jr., Chairman, President and CEO of Arthur J. Gallagher & Co. as part of the original announcement.
“We are excited to join forces with Artex and Gallagher,” Perez also stated at the time. “Being part of a larger organization will give us the opportunity to access worldwide resources and accelerate the development of bespoke solutions and products for ILS.”