Captive manager SRS has agreed to buy Ardonagh Group-owned Robus Group for an undisclosed amount.

Robus, a captive and insurance management group, has operations in Guernsey and Gibraltar.

It offers a suite of professional management offerings to various entities within the insurance sector.

The deal, which is awaiting regulatory approval, is aimed at reinforcing SRS’ position as one of the leading captive management companies in Europe.

It marks a significant step for SRS Europe as the company continues to expand into new territories.

SRS serves a diverse clientele, ranging from single parent captives to complex commercial insurers and reinsurers.

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By GlobalData

The company’s global footprint extends to Barbados, Bermuda, Canada, the Cayman Islands, Latin America, South Africa and the US.

SRS Europe CEO Peter Child said: “Robus coming over to SRS makes great sense because we share so much in our philosophies that pertain to our clients and the industry as a whole.

“I am thrilled to welcome Steve Quinn and his Robus colleagues to our team and am confident that this relationship will give us an even stronger platform from which to deliver our best-in-class insurance management services.”

The integration of Robus Group’s expertise is said to bolster SRS’ offerings, providing clients with enhanced risk management strategies.

Robus Group executive chairman Steve Quinn said: “Joining a business that is renowned for its specialist insurance management solutions is the natural next step in the development of our business.

“Robus has been on a remarkable journey over the past few years with Ardonagh, which will remain an important trading partner.”