Strategic Risk Solutions buys Robus from Ardonagh | Insurance business America
Deal “makes a lot of sense”
Insurance News
By Terry Gangcuangco
Ardonagh Group is selling its captive insurance management group Robus to Strategic Risk Solutions (SRS) for an undisclosed sum, subject to regulatory approval.
As part of Ardonagh’s capital solutions portfolio, Robus operates in Guernsey and Gibraltar. In a press release, SRS said the acquisition is in line with its goal of becoming Europe’s leading captive management firm.
“Moving from Robus to SRS makes a lot of sense because we so share our philosophies that apply to our customers and the industry as a whole,” commented Peter Child, CEO of SRS Europe.
“I am very pleased to welcome you [Robus executive chair] We welcome Steve Quinn and his Robus colleagues to our team and are confident that this relationship will provide us with an even stronger platform from which to deliver our world-class insurance management services.”
For Quinn, joining SRS is “the natural next step” for Robus. He described the US-headquartered buyer as known for its specialist insurance management solutions.
He added: “Robus has had a remarkable journey with Ardonagh in recent years, which will remain a key trading partner.
“We are pleased to now be working with SRS, a company that shares our high service standards, as we continue to deliver some of the best possible captive management solutions available on the market.”
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2024-01-30 06:53:35
www.insurancebusinessmag.com
