Vanguard Risk Solutions Announces Agreement to Acquire Business of Balderamos Insurance Services Limited

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.