Kane, a provider of specialist risk and insurance management services, has completed its acquisition of the insurance management operations of HSBC. The deal has received approval from all relevant regulatory bodies.
As a result of the acquisition, the Kane Group has now expanded to include: Kane Bermuda; Kane Cayman; Kane USA; Kane Guernsey and Kane Malta.
With this acquisition, Kane provides an extensive range of services, including: captive management, insurance-linked securities administration and life, pension and investment administration.
Kane has also appointed Keith Tozzi as group chairman and Roy Fellowes as global managing director of Kane Insurance Management.
Tozzi has held numerous chairmanships of public and private companies, and lead several companies through periods of structural change.
Fellowes was formerly CEO of HSBC Insurance Management and in his new role will be responsible for driving the group’s global strategy.