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Bedell Cristin in Guernsey has acted for Artex Risk Solutions in relation to the acquisition of Heritage Insurance Management Limited, the specialist captive and insurance management arm of Guernsey headquartered Heritage Group.
Artex Risk Solutions provides a diverse range of captive insurance solutions and alternative risk financing options for clients based primarily in the United States and is a wholly-owned subsidiary of Arthur J Gallagher & Co, one of the world's largest insurance brokerage and risk management services firms.
The deal will see Artex expand strategically beyond North America for the first time, with the acquisition of a fully-established European-based captive management facility, which will trade as Artex International in due course. The combined entity will represent one the largest captive managers in the world.
The Bedell team was led by partners Mark Helyar and Kate Ovenden, assisted by Richard Sharp, Sukh Chana and Emma Corbin. Managing partner, Mark Helyar, said "We were delighted to be instructed by Artex in this matter and to be able to assist them with their expansion into the European market. This transaction represents a significant development for Guernsey's captive insurance sector."
