Artex Risk Solutions, Inc., has acquired London-based Implement Compliance Solutions & Resources Limited, according to a recent announcement from Arthur J. Gallagher & Co. Terms of the transaction were not disclosed.
ICSR provides consulting and support services on compliance, governance, risk and operations to insurance firms primarily in the United Kingdom. Kenneth Underhill and his team will remain in their current location under the direction of Paul Eaton, head of Artex EMEA.
"I'm delighted to welcome Kenneth Underhill and his team to Artex. ICSR, under Kenneth's stewardship, has built a well-respected reputation in the London Market for the delivery of cost-effective and pragmatic solutions, helping insurance clients with the establishment, operation, remediation and transformation of their businesses. This ethos aligns perfectly with the Artex approach of helping our clients find a better way, and I'm excited to be able to offer ICSR's range of complementary services to the Artex proposition," said Eaton.
"ICSR represents an excellent strategic fit for Artex and will strengthen our capabilities in serving clients undergoing regulatory and transformational change," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am excited to welcome Kenneth and his associates to our growing, global team."
About Artex
Artex, Gallagher's wholly-owned subsidiary for alternative risk and capital, including fund administration, is a trusted leader and provider of diverse alternative risk and capital solutions. Established in more than 35 domiciles internationally, our global team provides creative thinking and deep expertise for our clients in the (re)insurance and alternative capital marketplace. We're here to help you find a better way to reduce your total cost of risk and improve your return on capital. For more information visit www.artexrisk.com.