Artex acquisition of Horseshoe will see the Bermuda firm ’become global brand of ILS services for Artex’
Artex Risk Solutions has confirmed it will acquire Bermuda-based Horseshoe Insurance Services Holdings which it said will “significantly strengthen” its insurance-linked securities (ILS) operations.
Horseshoe is known as an insurance-linked securities (ILS) specialist and was founded by Andre Perez in 2005.
As well as its headquarters in Bermuda, the firm has operations in London, Grand Cayman, Sri Lanka and Charlotte, N.C.
The plan is for Perez and his associates to continue to operate from their current locations under the direction of Peter Mullen, CEO of Artex.
Artex said Horseshoe will “become the global brand of ILS services for Artex”, and the combined businesses “will operate as one global team across multiple jurisdictions to better serve its clients and provide consistent delivery of services regardless of the domicile”.
Mullen said: ”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.
“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.”
Perez, CEO of Horseshoe, said he was “excited to join forces with Artex”, adding: “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 organisation 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.”
Mullen added: “At Artex, we are proud to be ranked as the world’s third largest insurance manager. The addition of Horseshoe will position us to continue evolving and pushing the boundaries of what a global, top-tier insurance provider looks like.”
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