SOBC Sandell, a company that specialises in the acquisition and management of distressed re/insurance entities, has acquired 100 percent of American Safety Risk Retention Group.
American Safety Risk Retention Group is based in Vermont, and is the SOB Sandell group's sixth acquisition.
SOBC Sandell received regulatory approval for change of control from the Vermont Department of Financial Regulation.
“This acquisition builds on the recent transaction in Montana and we are very pleased to be able to provide finality to risk retention groups in these states. SOBC Sandell has the specialist skills and understanding that enables us to purchase these groups, allowing the previous owners to exit without any future liability. We are actively looking at other opportunities to work with Risk Retention Groups and Captives," said Stephanie Mocatta, CEO of SOB Sandell.
Rick Ecklord, Sandell Re, added: “We are really pleased with the growth in the group and more particularly the team’s ability to provide solutions for complex, difficult or challenging insurance situations, through the provision of innovative solutions. This acquisition consolidates SOBC Sandell’s reputation as a solution-driven company.”
SOBC Sandell, American Safety Risk Retention Group, M&A, Reinsurance, RRG, Vermont, North America