NU Online News Service, June 1, 3:14 p.m. EDT
Kane today announced the successful completion of its acquisition of the insurance management operations of HSBC.
The deal has received approval from all relevant regulatory bodies, according to Kane, a provider of specialist risk and insurance management services.
The company is now the largest global, independent insurance manager and provides a range of services, including captive management; insurance-linked securities administration; and life, pension and investment administration.
Stephen May, group CEO of Kane, says the company's goal is to “enhance our existing customer relationships, create new ones, build on our range of world-class services, grow our industry-leading team and seek new opportunities to strengthen our leading position in the insurance management arena.”
Kane also announces the appointment of Keith Tozzi as group chairman and Roy Fellowes as global managing director of Kane Insurance Management. Tozzi has held numerous chairmanships of public and private companies and has a strong track record in leading companies through periods of structural change. Fellowes was formerly CEO of HSBC Insurance Management and in his new role will be responsible for driving the group's global strategy.
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