UK insurance broker and adviser, Heath Lambert, has agreed a strategic relationship with Heritage Insurance Management, the captive insurance division of the Heritage Group, to strengthen its offering to its new and existing clients. As part of this relationship, Heritage will acquire Heath Lambert’s Risk Retention and Captive Management division.
During the past year, Heath Lambert has recognised an increasing demand for risk retention and captive management services. Following a review, Heath Lambert has determined that its clients’ interests will be best served in resourcing these technical, administrative and geographic demands by working with an equally well respected and independent captive management organisation.
Alan Pratten, Managing Director of Retail Clients and Development at Heath Lambert said: “This deal is an excellent example of how Heath Lambert is working with its strategic business partners to evolve its client offering. Working with Heritage allows both parties to maximise their skills, enhance the range of technical, insurance and financial management resources, plus add real value to the international client base. It will provide our clients with an augmented service, safe in the knowledge that service will remain central to Heath Lambert’s captive proposition.”
Richard Tee, Chief Executive of Heritage Group said: “This acquisition fits with our growth strategy in both Guernsey and Malta and adds to the skills that we can provide clients in the specialist field of captive insurance management. While this acquisition has no effect on Heritage’s independence, it does add significantly to our blue chip client portfolio and confirms Heritage as one of the largest independent captive managers globally.”
