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Armour-led investor group acquires Elite Insurance, affiliate

Led by Armour Group Ltd, a group of investors has acquired Elite Insurance Co. Ltd. and its affiliate Elite Business Development Ltd.

Armour Risk Management Ltd., an Armour affiliate, is taking operational management of the two companies and is taking on key members of staff. The Gibraltar Financial Services Commission has approved the change of control.

Armour is a Bermuda-based group of insurance and service companies that specialize in the creation and implementation of solutions and acquisitions within the runoff and other specialty sectors of the global insurance and reinsurance marketplace.