The combining of Horseshoe Insurance Services Holdings Ltd. and Artex Risk Solutions operations positions them to create an “ILS center of excellence” according to Horseshoe CEO Andre Perez.
As we recently reported, Artex Risk Solutions is set to acquire Horseshoe, the Bermuda-headquartered specialist ILS, insurance or reinsurance manager and fund administrator, in a deal that will create the predominant ILS service firm operating globally under the Horseshoe brand once the deal is closed later this year.
The pair have complementary as well as competing service offerings of course, but bringing them together creates a global leader in the specialist ILS space, as well as service offerings for other areas of insurance, reinsurance and asset management.
In a statement, Horseshoe Founder & CEO Andre Perez laid out what the future will hold once the two companies merge their operations, with Horseshoe set to become the global ILS brand of Artex and remain an independent service provider.
“I am delighted to see the two largest and most experienced insurance-linked securities (“ILS”) teams in the industry join forces to solidify their market leadership,” Perez explained.
“We have been looking during this past year for a business partner, who would enable Horseshoe to expand and acquire talent, in order to fulfill our vision of leading the way with integrated ILS solutions and better serve our clients.”
In Artex and in becoming part of the much larger Arthur J. Gallagher & Co. group, Horseshoe has found a complementary partner that can deliver the scale and resources to help propel its specialist ILS market and capital markets backed reinsurance focused services to an increasingly global client base.
“Our solid history and credibility in insurance management and fund administration services, to both ILS and alternative fund markets, is a strong complement to Artex’s offering,” Perez continued.
“It is the perfect fit and I am thrilled to have found a group that shares the same values, so together, we can continue the tradition we have for excellent service, deep expertise and progressive business, our clients want to be a part of.”
Perez has ambitious plans it seems, aiming to create a global leader in ILS servicing, by delivering on business as usual at Horseshoe as CEO and bringing his and Artex’s ILS teams together.
Perez stated, “We are well positioned to create an ILS center of excellence, driven by our client centric business model, highly responsive and specialist teams, bespoke technology and comprehensive offering, with service capabilities in all major ILS locations.”