Genstar Capital LLC has completed its previously announced acquisition of Insurity, the former LexisNexis Insurance Software Solutions business, a provider of software and services to the property/casualty insurance industry.
Genstar is a middle market private equity firm that focuses on investments in insurance and financial services, software, life sciences, healthcare and industrial technology industries.
Headquartered in Hartford, Insurity provides policy administration, claims, billing, and analytics software to more than 100 insurance companies.
Jeffrey Glazer, who founded Insurity, will serve as president and CEO of Insurity under Genstar’s ownership.
Ryan Clark, managing director at Genstar and chairman of Insurity, said the transaction will enable Genstar to partner with the Insurity management team to bring innovations to insurance industry automation.
Joining Clark and Glazer on the Insurity board from Genstar will be Managing Director Mark Hanson and Vice President Eli Weiss.
Dennis Chookaszian, former CEO of CNA, David Wroe, former CEO of AMS, and Steve Mankoff, former senior vice president and founder of Siebel Systems, are all members of the Genstar Strategic Advisory Board and will serve on the company’s board of directors.