Sinser Holding AB has acquired Caledonian Management (CM), the independent captive insurance firm based in the Isle of Man, for an undisclosed sum.

Sinser is the third largest insurance management company in the world, and majority-owned by Skandia.

Hanse Ringstrom, chief executive of Sinser, and Callum Beaton, director of Sinser's European Islands' Region, will be joined by David Brown and Karl Grieves of CM on the board of Sinser, Isle of Man.