09/09/2009
Captive management firm Heritage Kane has announced it will be dropping the Heritage branding in favour of the name Kane Group Limited with immediate effect.
The company has previously operated its London and Middle East captive operations using the Heritage name, under licence from the Guernsey-based Heritage Group.
At the same time, industry sources have hinted that a merger between Heritage Group’s captive arm, Heritage Insurance Management and the captive operation of Heath Lambert, Heath Lambert Insurance Management, is imminent.
Stephen May, CEO of Kane Group said: “This is an exciting time in the development of our organisation. We have established firm foundations for growth, particularly in the Middle East and the surrounding regions.
“Now these foundations are in place, we have signalled our entrance into the next phase of our development by becoming Kane Group.”
Heritage Kane previously added new captive operations to its existing London office by establishing Heritage Insurance Management (Bahrain) in November 2008 and Heritage Insurance Management (Dubai) in April 2009, under the umbrella title of Heritage London & Middle East.
Subject to legal and regulatory approval the companies will change their names from HIMB and HIMD to Kane WLL and Kane Limited respectively.
According to a statement from the Kane Group, the management teams of Kane Group and Heritage Group will divest all interests in each other by mutual agreement.
Neither Heritage Insurance Management or Heath Lambert Insurance Management were able to confirm whether the alleged merger is to go ahead.
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