Artex To Acquire Bermuda-Based ILS Firm
October 04, 2019
Artex Risk Solutions will acquire Horseshoe Insurance Services Holdings Ltd. in a move to strengthen its insurance-linked securities (ILS) operations. Artex expects to complete the transaction before the end of the year.
Horseshoe specializes in providing insurance management, fund administration, advisory and corporate services to ILS, and alternative fund markets. Founded by Andre Perez in 2005, Horseshoe is headquartered in Bermuda, with operations in London; Grand Cayman; Sri Lanka; and Charlotte, North Carolina.
"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," said Peter Mullen, CEO of Artex. "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."
Upon completion, Horseshoe will become the global brand of ILS services for Artex, which will operate as one global team across multiple jurisdictions to better serve its clients and provide consistent delivery of services regardless of the domicile.
"We are excited to join forces with Artex," said Andre Perez, CEO of Horseshoe. "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 organization 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."
"At Artex, we are proud to be ranked as the world's third-largest insurance manager," Mr. Mullen added. "The addition of Horseshoe will position us to continue evolving and pushing the boundaries of what a global, top-tier insurance provider looks like."
October 04, 2019