We advised the Guernsey-based Heritage Group on the sale of the group’s insurance captive management operations (“HIM”) to Artex Risk Solutions, A J Gallagher's Bermuda-based captive management and alternative risk programs operation.

The transaction brief was preceded by and resulted from a successful strategic consultancy assignment which assisted Heritage Group management in the development of a shared corporate vision and strategy for the organisation.

Established in 1993, HIM is a leading captive management company specializing in the formation and management of insurance and alternative risk solutions for its global clients primarily outside North America. HIM will continue to operate from its Guernsey, Malta, Gibraltar and London locations as part of Artex Risk Solutions.

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 27 countries and offers client service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.

The Heritage Group, which has become wholly management-owned following the transaction, now focuses on its remaining fives specialist businesses: (1) fund management, administration and depositary business; (2) corporate administration; (3) insurance broking; (4) insurance underwriting and (5) professional support services.

PGD Strategy successfully concluded a complex, multi-jurisdictional transaction involving a diversity of management, non-management and institutional shareholders.