Heritage Group has acquired Heath Lambert's risk retention
and captive management division.
The Guernsey headquartered firm has acquired the whole of the
issued share capital of the Heath Lambert captive management
operations in Guernsey and Malta.
Heritage Insurance Management (HIM) will now have 150+ clients
throughout Europe, making it one of the largest independent captive
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
Merise Wheatley, Managing Director of Heath Lambert's
captive management operation in Guernsey, is to take up the role of
Client Accounting Director for HIM in Guernsey and will join the
HIM executive board.
Her team will continue working with the Heath Lambert group as
approximately half of their captive clients are still Heath Lambert
Charles Allen, Chief Executive of HIM, said that the company
worked with other brokers on a similar basis and that essentially
Heath Lambert had outsourced their captive management service to
He confirmed that all of Heath Lambert's clients will be
managed by Heritage and there would be an uninterrupted
Heath Lambert has said that it had recognised an increasing
demand for risk retention and captive management services.
Following a review, the company had determined that its
clients' interests would be best served in resourcing these
technical, administrative and geographic demands by working with an
equally well respected and independent captive management
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
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