Friday, June 17, 2011
Kane Group has announced the completion of the strategic acquisition of HSBC Insurance Management, which will extend its presence in Guernsey.
Previously, Kane was represented in Guernsey through the offices of Kane Group Limited but as part of the deal it now adds Kane (Guernsey) Limited as a licensed manager and Kane Insurance PCC (Guernsey) as a licensed insurer.
Globally, the acquisition means that the Kane Group has now expanded to include operations in not just Guernsey but also Bermuda, Cayman, Malta and the United States.
The company is now the largest global, independent insurance manager and provides an extensive range of services, including captive management, insurance-linked securities administration and life, pension and investment administration.
Stephen May, Group CEO, said: "This is a fantastic achievement for Kane and we are all extremely proud of how we have successfully united these two companies to create a truly international platform from which to deliver our expert, independent advice. Our aim now is to enhance our existing customer relationships, create new ones, build on our range of world-class services, grow our industry-leading team and seek new opportunities to strengthen our leading position in the insurance management arena."