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Artex Risk Solutions, the Bermuda-based insurance management unit of Arthur J. Gallagher & Co., has announced the acquisition of Guernsey-domiciled Hexagon Insurance PCC Ltd. in a move to build its insurance-linked securities management capabilities, reported Artemis.bm.
Artex said it has "entered into a definitive agreement to acquire the cores" of Hexagon and its subsidiaries. The acquisition follows Artex's recent takeover of insurance and reinsurance manager Kane. The acquisition includes Hexagon PCC's three subsidiaries, Hexagon ICC Ltd., Septagon Insurance PCC Ltd. and Axe Insurance PCC Ltd.