Guardian swoops for Zenith companies

Link Insurance has confirmed the successful completion of the acquisition, by the Guardian Group, of...

Link Insurance has confirmed the successful completion of the acquisition, by the Guardian Group, of the entire share capital of the Zenith Group of companies with the exception of the Lloyd's related entities currently in run-off. Completion of the deal now makes the group one of the largest insurers in Gibraltar.

Peter Ganteaume, chief executive officer, Guardian Holdings commented: "I am delighted at the successful outcome of the process to acquire Zenith.

This is the culmination of an intense period of hard work by the staff and management in each company.

"We have acquired a team of highly skilled people as well as a business that will both complement and enhance our current operations.

"We are now well positioned to continue our growth in the UK and Europe with the successful brands of Link and Zenith, and to build on the positive reaction we have received so far from our broker partners to this acquisition."

Link's chief executive officer, Andy Haynes, added that it intends to retain all the respective brand names and identities and the existing intermediary arrangements will remain unchanged.

"While we naturally face a period of integration, our priority now is to minimise any impact on our broker partners and strive to ensure that for them it is a matter of 'business as usual' over the next twelve months.

"By combining the strengths of both companies, we will be able to provide brokers with greater flexibility and choice of products, better service and also increased stability."

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