Bedell Cristin in Guernsey has acted for Artex Risk Solutions in its acquisition of Heritage Insurance Management, the specialist captive and insurance management arm of Guernsey-headquartered Heritage Group.
Artex Risk Solutions provides a range of captive insurance solutions and alternative risk financing options for clients based primarily in the US and is a wholly-owned subsidiary of Arthur J Gallagher & Co, one of the world's largest insurance brokerage and risk management services firms.
The deal will see Artex expand beyond North America for the first time, with the acquisition of a fully-established European-based captive management facility, which will trade as Artex International in due course.
The Bedell team was led by partners Mark Helyar and Kate Ovenden, assisted by Richard Sharp, Sukh Chana and Emma Corbin.
Helyar says: "We were delighted to be instructed by Artex in this matter and to be able to assist them with their expansion into the European market. This transaction represents a significant development for Guernsey's captive insurance sector."
