Arden Price Acquires Reinsurance Broker Montgomery Moore Re



April 23, 2005 -- London, International firm Arden & Price has announce that it has acquire the operations of reinsurance broker Montgomery Moore Re. Arden & Price said that the purchase will enable the firm to strengthen its insurance industry group and to diversified its services offer to the industry. Montgomery Moore Re, is one of the oldest and most respected reinsurance syndicates operating in the Lloyd's reinsurance market.

Arden & Price plans to expand the brokerage operations of Montgomery Moore Re, specially in Latin America, where the firm said that there was a shortage of full service reinsurance brokers, who would add value to their clients. Not only subscribing reinsurance contracts, but becoming real business partners of the insurance companies, helping them to understand risk and to better manage their risk exposure.

Arden & Price announce that in line with its corporate governance directives on full transparency and disclosure, it had paid two million US dollars for the used of the name Montgomery Moore RE, and its operations. Arden and Price has named seasoned reinsurance professional Michael Pierce to head the new company. The firm plans to infuse an additional four million US dollars in capital into Montgomery Moore Re in order for the reinsurance broker to expand operations and open a Latin American operation in Belize City. Offices in other Latin American cities will follow and the firms plans to have a regional network by the end of fiscal 2005.




Arden Price Acquires Reinsurance Broker Montgomery Moore Re



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