Carrick UK Holdings Company has reached an agreement with Bristol-Myers Squibb Company to acquire its two Ireland-domiciled captives – BMS International Insurance DAC and Seamair Insurance DAC.
Bristol-Myers Squibb is an American multinational pharmaceutical company headquartered in New Jersey.
Carrick UK is a subsidiary of Bermuda-based Carrick Group, an international non-life legacy carrier providing reinsurance and run-off solutions.
BMSII and Seamair are regulated by the Central Bank of Ireland.
“Carrick is delighted to complete its first acquisition in the Irish market” said Phil Hernon, chief operating officer.
“This type of transaction fits perfectly within Carrick’s strategy to provide solutions to the insurance market and expand global operations to include Irish subsidiaries to assist with European opportunities.
“We would also like to thank Strategic Risk Solutions (SRS) for the proactive role that they performed in assisting with the conclusion of both deals.”