Parabis buys Turnstone Group

Parabis Group is growing its reinsurance capability with the acquisition of Turnstone Group.

The group’s London Market defendant insurance law firm, Plexus Law, has also hired former in-house counsel Darren Hanison, to lead its reinsurance practice.

Turnstone is an independent audit and inspections company offering insurance and reinsurance audit services specialising in underwriting, claims, premiums and forensic fee reviews.

The business will continue to trade as Turnstone and will sit alongside Argent Liability Adjusters within the Parabis Group.

TurnStone was set up in April 2001 by Steve Bond. He will continue to head TurnStone and brings along with a team of four auditors.

Darren Hanison was AIG’s assistant general counsel for international property and casualty reinsurance in New York.

Parabis Group chief executive and senior partner of Plexus Law, Tim Oliver, said: “These are two very significant developments in underlining the services we offer to the insurance sector in general and the London market in particular.

"We already have a highly-developed offering for insurers and are committed to developing an equally strong range of services for reinsurers.

"Turnstone is a highly respected operation whose expertise gives Parabis Group additional capability, especially for insurers and reinsurers. We are very excited to have Steve Bond and his team on board.”