Vanguard Risk Solutions (VRS), a leading provider of general and health insurance brokerage services, announced today that it has signed a definitive agreement to acquire the business operations of Balderamos Insurance Services Limited, a well-respected insurance brokerage operating in the Cayman Islands.
The transaction, which will combine the strengths of two established market players, is subject to customary closing conditions, including review and approval by the Cayman Islands Monetary Authority (CIMA).
This strategic acquisition is poised to enhance Vanguard through expanding its client base and service capabilities within the Cayman Islands. Clients of both firms are expected to benefit from access to a wider range of services, deeper market expertise, and enhanced operational resources.
Tom Gammage, CEO of VRS said “We have long admired Balderamos Insurance Services for their strong client relationships and professional integrity. This acquisition aligns perfectly with our strategic goal of expanding our presence in key markets and succession planning. We are excited to welcome Andrea Balderamos as the CEO Designate of VRS, the talented BIS staff and valued clients, and we are committed to ensuring a seamless transition once all regulatory approvals are secured. I look forward to assisting Andrea during the handover and thereafter in my new role managing key client and partner relationships.”
Edward Balderamos, Managing Director of BIS, added, “In seeking a partner for the successful continuity of our business, it was crucial to find a firm that shares our unwavering commitment to uphold the highest standards of customer service. We are confident that this move provides a fantastic new home for our clients and staff. We will work closely with the Vanguard team and CIMA to facilitate a smooth and transparent review process.”
During the CIMA review period, both firms will continue to operate independently. There will be no changes to the services and teams that support clients of either brokerage. Both companies are committed to working diligently with the regulator to meet all requirements for the transaction.
About Vanguard Risk Solutions
A leading insurance broker in the Cayman Islands for over 40 years providing independent and trusted advice. Vanguard Risk Solutions provides a comprehensive range of insurance solutions for both individuals and companies, including for homes, commercial and condominium buildings, construction, general and professional liability, motor, marine, health and group life insurance. With Vanguard Risk Solutions clients receive the highest standard of service from on the ground experienced and qualified professionals. Combining local knowledge with international expertise Vanguard is the better solution for your business or your family.
About Balderamos Insurance Services Limited
Balderamos Insurance Services Ltd. is an established small family business in the Cayman Islands, operating for the past 29 years. The Company’s traditional business model is based on family principals, with the aim be a leader in the insurance industry by providing enhanced customer service experiences. The Company’s core values lay in treating customers with respect and understanding. The business has continued to grow through resourcefulness, perseverance and innovation. It thrives on honestly, integrity and business ethics integrated into all aspects of the business operations.