IslamicFinance.de

London-based Cobalt Insurance Holdings Ltd. has announced a strategic investment by Armour Group Holdings Ltd., the Bermuda-based diversified insurance group. Financial considerations were not disclosed. The strategy of Armour focuses on niche operations in the re/insurance and asset management sectors. Armour’s operations include underwriting operations, re/insurance companies, asset management companies and specialist service companies. The investment coincides with additions to the board of Cobalt of former Lloyd’s Chairman Max Taylor as chairman, and Sean Dalton of Armour as a non-executive director. John Turner, chairman of Aon Risk Solutions (UK & Americas), and former Brit Insurance Group CFO Andrew Baddeley also join the board in non-executive capacities.