The Ardonagh Group, subject to regulatory approval, is selling captive and insurance management group Robus to Strategic Risk Solutions (SRS) for an undisclosed sum.
Part of Ardonagh’s capital solutions portfolio, Robus operates in Guernsey and Gibraltar. In a release, SRS said the acquisition is in line with its goal to become Europe’s leading captive management firm.
“Robus coming over to SRS makes great sense because we share so much in our philosophies that pertain to our clients and the industry as a whole,” SRS Europe chief executive Peter Child commented.
“I am thrilled to welcome [Robus executive chair] Steve Quinn and his Robus colleagues to our team and am confident that this relationship will give us an even stronger platform from which to deliver our best-in-class insurance management services.”
For Quinn, joining SRS is “the natural next step” for Robus. He described the US-headquartered buyer as being renowned for its specialist insurance management solutions.
He added: “Robus has been on a remarkable journey over the past few years with Ardonagh, which will remain an important trading partner.
“We’re excited to now work with SRS, a business that shares our same high standards of service, as we continue to deliver some of the best possible captive management solutions available on the market.”
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