01 April 2016
Artex Risk Solutions acquire Hexagon and Kane insurance groups
Insurance M&A specialists from Carey Olsen have advised Arthur J. Gallagher & Co's insurance management unit, Artex Risk Solutions, on its acquisition of two insurance management operations.
Artex, which specialises in captive management and alternative risk programs, has acquired Guernsey-domiciled Hexagon Insurance PCC Limited as well as the insurance division of Kane Group.
Hexagon was part of the Robus Group and provides cell company facilities to the insurance linked security (ILS) industry. The acquisition includes Hexagon PCC's three subsidiaries, Axe Insurance PCC Limited, Septagon Insurance PCC Limtied and Hexagon ICC Limited.
Kane Group is a global insurance management company specialising in the formation and management of insurance and alternative risk solutions.
The Carey Olsen team included partner Christopher Anderson and senior associate James Stockwell who advised on the Guernsey aspects of the acquisitions.
Mr Anderson said: "These acquisitions will provide a significant boost to the ILS management capabilities of Artex and position them as a leading player in the field.
"This is likely to be the largest Guernsey insurance acquisition of the year and will almost certainly be the most significant which is testament to our team's unrivalled depth of experience in this area."