Artex Risk Solutions, the captive service provider and alternative risk transfer solutions subsidiary of insurance and reinsurance broker, Arthur J. Gallagher & Co., has acquired Implement Compliance Solutions & Resources Limited (ICSR).
ICSR, based in London, specialises in providing consulting and support services related to compliance, governance, risk, and operations primarily to insurance firms in the United Kingdom.
Kenneth Underhill, Director of ICSR, and his team will continue operating from their current location under the leadership of Paul Eaton, head of Artex EMEA.
Eaton commented on the deal, “I’m delighted to welcome Kenneth Underhill and his team to Artex. ICSR, under Kenneth’s stewardship, has built a well-respected reputation in the London Market for the delivery of cost-effective and pragmatic solutions, helping insurance clients with the establishment, operation, remediation and transformation of their businesses.
“This ethos aligns perfectly with the Artex approach of helping our clients find a better way, and I’m excited to be able to offer ICSR’s range of complementary services to the Artex proposition.”
J. Patrick Gallagher, Jr., Chairman and CEO of Gallagher, expressed his enthusiasm for Artex’s acquisition, stating, “ICSR represents an excellent strategic fit for Artex and will strengthen our capabilities in serving clients undergoing regulatory and transformational change.”
He added, “I am excited to welcome Kenneth and his associates to our growing, global team.”
