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Robus Group has today completed the sale of its Guernsey-domiciled subsidiary Hexagon Insurance PCC and its subsidiaries to Artex Risk Solutions.
The sale of Hexagon Insurance PCC, along with Axe Insurance PCC, Septagon Insurance PCC and Hexagon ICC, will allow Robus to concentrate on its core strengths and marks a new chapter for the business.
Mike Leonard, Chairman of Robus Group said: "We are very pleased to have completed this deal and found a new home for the Insurance Linked Security (ILS) team, as this allows Robus to concentrate on its core strengths of supporting and managing businesses in Guernsey and Gibraltar. Following our recent appointment of Simon Walker as Robus Group CEO, this marks a new chapter for our group."
Under the terms of the sale, Justin Wallen, managing director of Hexagon Insurance PCC, and Ben Dunning, director and Hexagon group accountant, will move to Artex.
Established in August 2011, Hexagon Insurance PCC was part of the Robus Group, exclusively providing solutions and facilities to the ILS industry. Last year Hexagon Insurance PCC was named ILS Service Provider of the Year at the UK Captive Service Awards.
Robus Group, which was founded by the late Chris Le Conte, will continue to provide innovative solutions, including Protected Cell Company (PCC) structures for its clients. Last year, Robus Group won PCC Initiative for 2015 based on one of its structuring solutions for one of its current clients.
