Artex acquires Dallas-based firm
Artex Risk Solutions continued to expand its operations today, announcing the acquisition of Dallas-based EWI Re, Inc.
Terms of the transaction were not disclosed.
Established in 1959, EWI offers reinsurance programme design and placement services for captives and mutual insurance companies; run-off and legacy solutions; and safety and loss control services.
Its specialty risk management practice is built to support large insureds with demanding insurance needs, Artex said.
The EWI team will report to Jennifer Gallagher, president of Artex’s North American operations.
Ms Gallagher said: “The acquisition of EWI expands our ability to provide complex single-parent captive solutions to our clients.”
She added: “Steve McElhiney and his staff are a terrific addition to our team and their skills enhance our insurance management capabilities. Steve is well respected in the insurance industry and currently serves as the board chairman of the Captive Insurance Companies Association. His expertise and experience will be invaluable to our clients.”
Mr McElhiney said: “Our team is well versed in the design and placement of reinsurance needs for single-parent captives. We are excited to join Artex and create additional synergy around the development of comprehensive risk management solutions for large, individual risk clients.”
The news comes just three days after Artex announced completion of the acquisition of insurance-linked securities specialists Horseshoe Insurance Services Holdings Ltd.
Horseshoe, which specialises in providing insurance management, fund administration, advisory and corporate services to ILS and alternative fund markets, will become the global brand of ILS services for Artex.
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