Geo completes acquisition of Robus
Geo has acquired the insurance management, fiduciary and financial advisory group Robus.
Robus provides a broad range of services, including insurance management, protected cell company and captive management, actuarial and ILS services. It has operations in Guernsey, Gibraltar and Malta.
Robus will continue to operate independently under the leadership of Richard Le Tocq, its chief executive, as part of the Geo Specialty Group Holdings entity.
This is the fourth acquisition into Geo Specialty this year, following Rural, Thames Underwriting, and the marine and leisure division of KGM Underwriting Services.
Geo chief executive Derek Coles said: “Robus is a small but powerful addition to the group and joins at a significant time. Hardening rates are leading to an increase in interest from MGAs, brokers and insurance industry investors to set up their own insurance carriers, and from both corporate firms and intermediaries looking to set up their own captives. The addition of Robus broadens the suite of our specialist capabilities and expertise available to clients.”
Le Tocq said Robus had wanted to maintain its independence. “”We have a proud history of developing innovative insurance solutions to meet the changes in our clients’ needs within a variety of jurisdictions and are pleased to be part of a larger Group with a track record in investing for growth,” he added.