Kroll risk consulting company, a Marsh subsidiary, said it has sold its international high-risk asset and personnel protection division, Kroll Security International, to Garda World Security Corp, in Montreal.
Kroll said the division involved is predominantly active in Iraq and Afghanistan. Terms of the deal were not released.
“The sale of our international contract security division is consistent with our strategy to focus on higher-margin segments of the security business,” said Simon Freakley, chief executive officer of Kroll.
These segments include training, consulting and homeland security solutions.
In a separate statement, Garda said as part of this transaction, Kroll would enter into a service agreement with Garda for all its executive protection and kidnap and ransom service needs.
In a joint statement, they said the kidnap and ransom services for policyholders of St. Paul Travelers Companies would be carried out by Kroll. Kroll will continue to provide short-term executive protection services.
Kroll, a subsidiary of New York-based Marsh & McLennan Companies, said it would continue to provide value-added security services to governments, corporations and high-net-worth individuals, with a focus on training, consulting, architecture and engineering, crisis preparedness, business continuity, and emergency management.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
