Arsenal Insurance Management (Arsenal) has completed its acquisition of Jade Risk, a Texas-based captive manager with clients in the US and off-shore domiciles.
The company said that the acquisition will enable it to expand its presence in the captive market and better serve the industry.
“We are excited about this acquisition and having an office to serve the Texas and Oklahoma markets,” said Norman Chandler, president of Arsenal.
“We have worked with Jade Risk for many years and believe our business cultures are similar and the synergies will be best for both organisations.”
Jade Risk’s president Chris Jarvis will remain a member of the management team and there is not expected to be any other personnel changes.
Jarvis said: “Jade Risk is proud to join Arsenal and provide our clients a new level of quality captive management and consulting services.”
According to the company one on one client contact and final transition will continue through the end of 2016 and will include rebranding and other marketing activities.
Arsenal also recently opened a new office in Key Largo, Florida and continues to plan for growth in 2017.
Arsenal Insurance Management, North America, Jade Risk, Insurance, Captive, M&A, Risk management, Norman Chandler, Chris Jarvis