Insurance broker Arthur J. Gallagher & Co. has agreed with Kane Group to acquire its insurance management operations (KIM).
The acquisition is expected to be finalized at around March 31 and is subject to certain conditions. Other terms were not disclosed.
KIM is an insurance management form established in 1984 with expertise in the healthcare, insurance, financial services, transportation, and construction industries and the acquisition will complement Artex Risk Solutions, Gallagher’s Bermuda-based captive management and alternative risk programs operation.
Robert Eastham, Linda Haddleton, Ann West, and their associates will continue to operate from their offices in Bermuda, Cayman, Guernsey, and in the states of South Carolina and Vermont supervised by David McManus, chief of Artex Risk Solutions.
J. Patrick Gallagher, Jr., Arthur J. Gallagher & Co.'s chairman, president, and CEO said, "KIM's specialized products add to Artex's client capabilities, and its team will expand Artex's presence, particularly in Bermuda and Cayman. This group will be a wonderful complement to Artex Risk Solutions as it continues to add innovative client products and extend its international footprint.”