PRO GLOBAL COMPLETES SALE OF CONSULTING UNIT AND APPOINTS CEO

Pro Global Insurance Solutions has completed the sale of its outsourcing and consulting businesses, first announced in December 2016. The final cash consideration for the sale was £7m. Going forward Pro Global’s only business will be its 30% investment in Asta Capital Ltd, which owns Lloyd’s third party managing agent Asta Managing Agency. The company also announced on Monday that Gilles Erulin –currently a non-executive director of the company - will become Chief Executive of Pro Global while Stephen Baxter has been appointed Chief Finance Officer. In January, Pro revealed that Artur Niemczewski and Andrew Donnelly had resigned from their respective roles of CEO and CFO.