Thomas Miller Insurance Germany (TMIG) has entered into an agreement to sell its German-based claims recovery business of ZASS International GmbH to BARBUSS.
BARBUSS is a global team operating in 14 countries that improves results for clients in the (re)insurance and international trade industries, focusing on effective management of claims recoveries.
The acquisition of ZASS’ business bolsters BARBUSS’ presence in Germany and will help expand its operations in European insurance claims recovery, according to a statement.
The sale will not have any effect on existing operations in the region for Thomas Miller, while Hamburg remains a key focal point of Thomas Miller’s strategic operations in Europe.
Frank Bergert, managing director of TMIG said, “The decision to sell the ZASS portfolio is a strategic move for TMIG, allowing the Hamburg-based team to focus on their core specialty marine insurance business.”
Bergert added, “We believe the transfer of the portfolio to BARBUSS provides an exciting opportunity for the existing client base.”
Garry Cordess, BARBUSS director responsible for the European Union and the United Kingdom businesses, commented, “The addition of ZASS business supports our long-term strategic ambition of expanding our footprint, building upon our established presence in the recoveries business.”
