Armour Investment takes Cobalt Underwriting to the Next Level

London, 18th January 2016 – Cobalt Insurance Holdings Ltd, London’s pre-eminent   provider of Shariah compliant insurance and reinsurance is pleased to announce a strategic investment by Armour Group Holdings Limited, the Bermuda based diversified insurance group.

The strategy of Bermuda based Armour focuses on niche operations in the re/insurance and asset management sectors. Armour was formed by Brad Huntingdon and John Williams in 2007. 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.  Armour joins the original investors including Capita and the Bank of London and Middle East.

Cobalt CEO Richard Bishop welcomed the investment and Board appointments, “the  investment by Armour and the strengthening of the Board will assist Cobalt achieve its objective of becoming a wider financial group serving a growing market in conjunction with leading London Market capacity.”

Sean Dalton said of the development “Cobalt’s position as the Shariah re/insurance distributor for Lloyd’s and London Market fits well with our niche strategies at Armour. We have observed with interest the impressive development of Cobalt’s leadership position in this fast growing sector.”

Richard Bishop added: “We have developed not only a model to serve brokers and their clients seeking Shariah compliant insurance and reinsurance solutions but also a range of products that interface with insurers within the London Insurance Market. This is a highly skilled and experienced sector of the global Insurance market that is actively seeking diverse and added-value propositions, particularly within emerging markets. Our capacity providers have strong financial ratings and therefore deliver the confidence that our clients require.”

In a further development, Cobalt also announced it was moving offices to the 4th Floor of 107 Leadenhall Street.

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About Cobalt Insurance Holdings Ltd

Cobalt Insurance Holdings Ltd and its subsidiary operation Cobalt Underwriting Services Ltd trading as Cobalt Underwriting is an FCA regulated underwriting agency offering a range of Shariah compliant insurance and reinsurance products backed by Lloyd’s and S&P A-rated carriers.   Cobalt also provides Shariah advisory services to the market from its other subsidiary, Cobalt Advisory Services Ltd.  www.cobaltuw.com.

About Armour Group Holdings Ltd

Armour Group Holdings Limited is a privately held group providing capital, risk, strategic M&A solutions for the legacy and speciality sectors of the global insurance and reinsurance markets.  Armour has offices in Bermuda, the UK and the US and the group consists of insurance and reinsurance risk carriers, MGA’s, asset management and insurance service companies.   www.armourholdings.com