Reinsurance intermediary Benfield Group said its wholly owned US subsidiary Crawley Warren had acquired an additional 43% of the share capital of International Space Brokers (ISB).
ISB, a dedicated space insurance broker, is a corporation formed by New York broker Frank Crystal & Co with net assets of US$1.5m.
Following the acquisition, Benfield Group now owns 86% of the issued share capital of ISB.
Benfield's chief executive officer of international operations, David Spiller, said the acquisition would allow the group to grow its position within the space insurance market.
