Private equity firm Thomas H. Lee Partners (THL) has teamed with two former Beecher Carlson executives and will invest up to $200 million to build a national insurance distribution firm.
Bret Quigley and Adam Meyerowitz and the Boston-based private equity company said their new entity, Prime Risk Partners, based in Atlanta, will partner with insurance agencies that want to become part of a national insurance distribution firm.
Quigley was most recently vice chairman of Beecher Carlson, a national insurance brokerage firm acquired by Brown & Brown in July 2013. At Beecher Carlson, Quigley’s duties included all acquisitions as well as all agency operations. Prior to Beecher Carlson, he was the CFO of Hobbs Group. Quigley will serve as chairman and CEO of Prime Risk Partners.
Meyerowitz will serve as executive vice president and co-founder of Prime Risk Partners. Most recently, he spent nine years at Beecher Carlson as its senior vice president and general counsel.
“We have studied the insurance brokerage sector for over 10 years, and believe this is an attractive space in which to invest capital,” said Soren Oberg, THL managing director.
“There are and will continue to be compelling opportunities to consolidate assets and people within insurance distribution into an intelligent national model,” Quigley said. “We aim to be the home of choice for those insurance professionals seeking to grow as part of something larger than themselves while helping to create the next great national insurance agency platform.”