Artex, a global cell facility manager and captive, alternative risk transfer, and ILS capital solutions specialist service provider, has announced that it will be transitioning its cell facility solutions worldwide to Artex Axcell over the next several month.
This rebrand, according to the announcement, aims to bring more efficiency and a higher level of service to clients looking for an alternative risk solution that requires less time, investment and resources.
Cell facilities can be used for various purposes including gaining greater re/insurance and access to the capital market, providing flexibility in coverage, filling gaps in commercial policies , create new revenue streams, as an alternative to an owned captive and as a captive exit strategy.
It should be noted that the name change does not mean that Artex changes the corporate structures used to issue transactions in their protected or isolated cells.
Peter Mullen, Global CEO, Artex, commented: “The creation of Artex Axcell is the result of a rationalization effort to pass across jurisdictions and drive a consistent global approach,”
“The new cell facility name is designed to highlight our best-in-class offering and build on the strength and reputation of the Artex brand with entities across the US, Cayman, Bermuda and Guernsey.”
The new name, Artex Axcell, comes from the words ‘accelerate’ and ‘cell’, the company explained, and it represents a unified, global approach for its clients.
“For organizations looking to lower the total cost of risk and take more control than the traditional insurance market, Artex Axcell creatively brings a more efficient risk transfer vehicle with a low investment of time, money and resources,” the company said.
Adding: “For capital market investors looking for a restructuring structure, Artex Axcell is the market leader to advise, facilitate and execute these transactions quickly and efficiently.”