Collas Crill has acted on behalf of the Heritage Group in relation to the sale of Heritage Insurance Management Limited (Heritage) based in St Peter Port, Guernsey, to Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, headquartered in Illinois, with operations in 27 countries and client service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.
Established in 1993, Heritage is a leading captive management company specializing in the formation and management of insurance and alternative risk solutions for their global clients primarily outside North America. Managing Director of Heritage Insurance Management Nicholas Heys and his associates will continue to operate from their Guernsey, Malta, Gibraltar and London locations under the direction of David McManus, head of Artex Risk Solutions, Gallagher’s Bermuda-based captive management and alternative risk programs operation.
“Heritage is widely recognized as a premier provider of captive insurance management services in Europe,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “Their extensive industry experience, global focus and strong international relationships will be a wonderful complement to Artex Risk Solutions as it continues to expand its operating presence outside North America. We are extremely pleased to welcome Nick and his team to our growing family of risk management professionals.”
The Collas Crill team was led by Commercial and Regulation Senior Associate Wayne Atkinson with partner Ian Kirk and associate Kit Hobbs. Property partner Jason Green also advised on real estate matters. Wayne said: “Heritage is a significant Guernsey institution and we were delighted to be able to assist them with this exciting development.”
Category: Finance & Business