Artex Risk Solutions, provider of captive insurance solutions and subsidiary of broker Arthur J Gallager, has acquired Quest Holdings (Gibraltar), the largest insurance manager in Gibraltar.
Founded in 2004, Quest specialises in providing services to insurance companies in Gibraltar thereby establishing a European Union domicile.
The move is another acquisition from Artex, which purchased the captive management and insurance-linked securities (ILS) business of insurance manager Kane back in March this year.
Nick Heys, chief executive officer of Artex’s international operations, said: “We had long admired Quest’s leading position in the Gibraltar insurance market and their style and approach to business makes them a perfect match for Artex.
“We’re very happy to welcome Steve Quinn, Chief Executive Officer and Founder of Quest, and his staff to the Artex family,”
David McManus, president of Artex Risk Solutions, added: “Quest strengthens us considerably within the Gibraltarian insurance market and brings particular expertise in the UK motor arena.
“In addition their broader European knowledge and relationships will help drive Artex’s International growth and complement the recent acquisitions of Hexagon and Kane’s insurance management operations. We are looking forward to developing many new and exciting opportunities with Steve and his great team.”
Artex Risk Solutions, Quest Holdings, Captive insurance, M&A, Gibraltar, North America