US-based insurance and reinsurance management firm Vanbridge will acquire reinsurance and risk management firm, Alan Gray, and life insurance and financial advisory distribution firm, Universal Insurance Services (UIS).
Both the deals are expected to be completed in April this year.
Vanbridge managing principal and CEO Philip Moyles Jr. said: "Vanbridge will now have the capability to bridge languages, cultures and financial interests across the broad spectrum of the traditional (re)insurance and capital markets to deliver significant value to its clients and partners, particularly alternative asset managers.
"We are effectively bringing all of the services related to insurance, reinsurance and capital markets into a single organization that is focused on providing high-end, bespoke solutions and tailored portfolio aggregation programs."
Established in 1988 as a claims and audit advisory firm, Alan Gray offers claims administration and audit services, actuarial, underwriting, legal bill auditing, reinsurance collections and risk management services to its clients.
The firm’s clients include insurers and reinsurers, agencies, MGAs, self-insured corporation and public entities.
As an objective specialist, UIS provides services to high net worth individuals, corporate, private equity, executive benefit, RIAs, insurance agents, attorneys, CPA’s, investment organizations, broker dealers and general agencies.
The firm, which consults, advises and coaches professionals across the US, also offers consulting services for estate planning, executive benefits and business planning.
Image: Vanbridge has agreed to acquire Alan Gray and Universal Insurance Services. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.