‘We are proving that legacy management can be highly secure, tech-first, and growth-oriented,’ says deputy chief executive
Stubben Edge Group has acquired Isle of Man-based Citadel Insurance Company from Premier Foods.
The acquisition was completed through Stubben Edge International, the group’s Guernsey-incorporated subsidiary, and forms part of its strategy to strengthen its presence across multiple jurisdictions.
Stubben Edge said the deal would enable partners looking to exit captive or insurance vehicles to restructure or leave those arrangements, while also complementing the growth of its Guernsey-based insurance vehicle, 1 Edge.
The group plans to integrate Citadel with its existing operations to create a broader international insurance platform spanning the Isle of Man and Guernsey.
The insurer also plans to deploy its proprietary Flightdeck platform across the business to improve operational efficiency and enhance data transparency for partners and regulators.
Karen Barretto, deputy chief executive at Stubben Edge, said the acquisition marked an important milestone for the group.
“By combining Citadel’s robust capital reserves with our Flightdeck technology and world class reinsurance partnerships, we are proving that legacy management can be highly secure, tech-first, and growth-oriented,” she added.
Expansion plans
Stubben Edge intends to establish a permanent operational presence on the Isle of Man and has appointed John Cowley as head of compliance and Andy Guy as a senior life underwriting and claims expert to support its expansion.
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Premier Foods chief financial officer Duncan Leggett said Stubben Edge’s specialist insurance expertise made it a suitable owner for Citadel.
He added: “We are pleased to have completed the transaction and wish the Stubben Edge team every success as they take the business forward.”
Stubben Edge added that while Citadel will initially continue operating as a general insurer, the group is exploring further opportunities to expand its presence in the Isle of Man, including supporting its wider life insurance and wealth management ambitions.
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