Premia Holdings Ltd. Has Acquired Alan Gray LLC

Business Wire

HAMILTON, Bermuda--(BUSINESS WIRE)-- Premia Holdings Ltd., a leading reinsurance group focused on reinsuring and acquiring companies in runoff, has acquired Alan Gray LLC, a highly respected international claims, audit and risk management advisory firm that has been a trusted advisor to its clients for over thirty years.

"I have been a client of Alan Gray’s for over 20 years across a broad spectrum of services. I know firsthand what a tremendous job they do for their clients. They bring tremendous expertise and cost effective solutions to every assignment. We are thrilled to make them a part of our group and we look forward to working with them to accelerate their growth and create even more satisfied clients,” commented Bill O’Farrell, CEO of Premia Holdings.

Alan Gray LLC was established in 1988 as a claims and audit advisory firm, and over the years has built a reputation as an efficient and trusted resource to those involved in the management of risk. The firm provides claims administration and audit services, actuarial, underwriting, legal bill auditing, reinsurance collections and risk management services to clients including leading insurers and reinsurers, MGAs, self-insured corporations and public entities.

"All of us on the Alan Gray team are very pleased to join the Premia team. It will allow us to bring our traditional services to new clients while providing our long standing clients expanded solutions to help them achieve their business objectives," remarked Michael F. Ceppi, CEO of Alan Gray LLC.

Dowling Hales acted as exclusive advisor to Vanbridge, the seller.

About Premia

Premia Holdings Ltd. is a reinsurance group with operations in Bermuda, the U.S. and Europe that is focused on sourcing, structuring and servicing run-off business. With over $500 million in capital, Premia is well equipped to handle acquisitions and reinsurance transactions in the global P&C run-off market. Premia is sponsored by Arch Capital Group Ltd. and Kelso & Company.

About Alan Gray LLC

Alan Gray LLC is an international insurance claims management and financial services firm headquartered in Boston, MA. Since 1988, Alan Gray has helped its clients realize significant bottom line savings through its highly experienced technical staff, ability to adapt quickly to situational changes, and commitment to staying current with the latest industry information and advances in technology. Our superior claims advisory and audit services are tailored to the specific needs of each client with the utmost emphasis on client service, satisfaction and results. www.alangray.com

Cautionary Statement

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release or any other written or oral statements made by or on behalf of Premia Holdings Ltd. and its subsidiaries may include forward-looking statements, which reflect our current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward-looking statements.

Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. Forward-looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements.

All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.