Strategic Risk Solutions (SRS) has acquired the operations of CGE Group (CGE), a leading independently owned captive and other international business management company in Barbados.
The current Chief Executive Officer (CEO) of CGE, Chris Evans, will continue to head up the Barbados operations, and the firm’s full staff of 10 will remain.
“We believe that Barbados is well suited to our captive management model and establishing an operation in Barbados will allow us to expand our reach among North American captive owners, particularly in Canada,” said Brady Young, President and CEO of SRS.
“In reviewing the market it quickly became apparent that CGE was an ideal fit with SRS and that an acquisition would allow us to establish a strong immediate presence.
“We are excited to welcome Chris and his team into the SRS family and look forward to working with them to further grow our presence in Barbados and continue delivering excellent service to CGE’s clients and others that are looking for more value added services,” added Young.
CGE was formed in 2003 by Chris Evans and has grown into one of the leading independent captive management firms in Barbados, servicing captives and other international business entities owned by Canadian and U.S. organisations.
“I have got to know Brady and the SRS operations over the past few months and have been very impressed with the depth of resources, professionalism and client focus of the firm,” said Evans.
“Their approach and philosophy is similar to our own. I believe we have found an ideal partner in SRS in providing continuity to clients and staff,” he added.
SRS is one of the world’s largest independent captive management firms, the company operates predominantly in the U.S., Bermuda and Cayman and recently opened a European operation.
The CGE acquisition is the firm’s first extension into Barbados.
