Kane Completes First Phase Of Merger
Since its acquisition of HSBC Insurance Management [HIM] last June, independent captive insurer Kane has relocated its Bermuda operations to new premises as well as upgraded its Cayman, London and Vermont units.
Completing the first phase of its integration with HIM, Kane has said the former HSBC business unit heads and their teams have been retained to run and develop the Bermuda operations along with those in Cayman and the US.
The firm says the HSBC deal has made Kane the fourth-largest captive insurance manager globally — and the largest that is independent of a global broking business.
Kane recently received another injection of cash from its London private equity backer CBPE to open a offices in New York and has promoted former Aon Global Insurance Management head Clive James to chief operating officer.
In addition, Kane has employed Simon Hinshelwood, an experienced global financial services executive, to take over as group CEO from Stephen May, who will be leaving Kane.
