ACR confirms that sale will not proceed

As revealed by  Intelligent Insurer on November 1, ACR Capital Holdings has officially confirmed that its acquisition by Shenzhen Qianhai Financial Holdings and Shenzhen Investment Holdings will not proceed.

But the company stressed that its existing major shareholders remain committed to firmly supporting the sustainable and profitable growth of the business and its CEO said the company’s long-term vision remains unchanged.

Bobby Heerasing, group chief executive of ACR, said: “Our long-term strategic vision, growth ambitions and business priorities for ACR remain unchanged. We remain fully committed to ensuring service consistency and continuity for our clients, and look forward to delivering top-quality risk solutions and services that clients have come to expect from ACR at the upcoming 1 January renewals.

“The business has been performing well over the last 12 months and ACR’s management and employees are fully on board and focused on executing on our strategy to continue delivering results.

“We celebrated our 10-year anniversary in 2016. During the past decade, we have established our unique brand and provided our clients across Asia with bespoke Asian risk solutions and services. Our major shareholders have supported ACR throughout this journey, and will continue to share ACR’s dedication to being responsive to client needs, employing sound risk management practices and maintaining strong levels of capitalization, which we believe will be essential to ACR’s continuing success.”

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