Kane progresses HSBC integration, is optimistic on insurance-linked securities

by Artemis on January 10, 2012

Kane, a provider of risk and insurance management services and now the largest global independent insurance management firm, have issued a press release announcing the progress they are making since their acquisition of HSBC Insurance Management completed in June last year. Kane have no completed phase 1 of the integration of the HSBC operations successfully making them the fourth-largest captive manager globally.

Kane are also heavily involved in catastrophe bond and insurance-linked securities through their work with sponsors, arrangers, funds and law firms. They are prolific in the Cayman Islands on the administrative side of ILS and cat bond deals and the growth that the HSBC acquisition gave them should see them expand this work to other domiciles.

Kane also announced that they have raised additional capital from their principal shareholder (CBPE, a UK private equity firm) and this has enabled them to open a new office in New York to support an expansion and greater focus on their life, pensions and investment administration business. With new products for this practice set to launch in Europe, Asia and the Middle East in Q1 2012 Kane seek to establish themselves as a leading player in this field.

Kane have also employed a replacement for their departing CEO Stephen May. Simon Hinshelwood, an experienced global financial services executive, has taken over the reigns and takes over as Group CEO we believe immediately.

Kane say that they are optimistic about the opportunities in the insurance-linked securities sector, where they claim to be the global leader in the field, in 2012 despite the challenges of the economic climate and ‘soft’ insurance market. They are also optimistic on the outlook for their other core discipline of captive management.

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