Artex Risk Solutions has entered into an agreement to acquire Guernsey-domiciled Hexagon Insurance PCC and its subsidiaries.
Hexagon, part of Robus Group, provides PCC facilities to the insurance-linked securities (ILS) industry. The deal also includes the company’s subsidiaries Axe Insurance PCC, Septagon Insurance and Hexagon ICC.
Artex recently agreed to buy Kane’s captive management and ILS administration business for an undisclosed sum. The transaction is also expected to close end of March.
Nick Heys, CEO of Artex’s International operations, commented: “Hexagon’s expertise and legacy of innovation is well-known in the alternative capital segment of our industry. This merger, in addition to the recently announced acquisition of Kane’s ILS and structured transaction administration services, positions us as a leading player in this field.”
He added: “We are excited to welcome Justin Wallen and Ben Dunning to the Artex family.”
