AJ Gallagher’s (AJG) captive and alternative risk transfer solutions subsidiary Artex Risk Solutions has signed a deal to acquire the Bermuda-headquartered ILS service provider Horseshoe Insurance Services Holdings.
Horseshoe CEO Andre Perez and his associates will continue to work from their present locations reporting to Artex CEO Peter Mullen.
Horseshoe will become the global brand of ILS services for Artex, Mullen said.
"Together we will have quite a formidable team dedicated to the ILS market," Perez commented.
"Being part of a larger organisation will give us the opportunity to access worldwide resources and accelerate the development of bespoke solutions and products for ILS.”
AJG CEO Pat Gallagher described the ILS market as “a critical business segment”.
The deal is subject to regulatory approval and is expected to close in the fourth quarter of 2019.