Insurance management, fiduciary, and financial advisory group Robus is now part of Geo Specialty Group Holdings.
Without disclosing financial terms of the transaction, Chartered insurance underwriting agent Geo Underwriting – the name behind London Market business Geo Specialty and European managing general agent Geo Europe – said it has completed its swoop for Robus, which will continue to operate independently under the leadership of chief executive Richard Le Tocq (pictured).
“Robus is a small but powerful addition to the group and joins at a significant time,” stated Geo CEO Derek Coles. “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. The team’s focus on collaboration, trust, and innovation – seeking to be true partners of their clients – also makes them an exciting cultural fit for us.”
With operations in Guernsey, Gibraltar, and Malta, the snapped up firm offers insurance management, protected cell company and captive management, and actuarial and insurance-linked securities services.
Lifting the lid on the development, Le Tocq said: “Of utmost importance to us throughout this process was finding a home that would value and support our independence. With Geo Specialty we find ourselves in good company.
“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.”
Meanwhile outgoing Robus chair Mike Leonard wished the company “an exciting future” with its new family.
“My fellow shareholders and I are delighted Robus is moving into strong and welcoming hands for the next chapter in its strategic development,” declared Leonard,” who added that Le Tocq and his team have ensured the firm’s growth over recent years. “We cannot, of course, forget the legacy and vision of the late Chris Le Conte in shaping the foundations of Robus.”
