SPARTA Insurance Holdings, Inc. reports that it has closed its contractual arrangements for funding in the amount of $279.1 million of private equity capital from a consortium of investors led by Corsair Capital, and including Goldman Sachs, York Capital Management, Primus Capital Funds and KBW Capital Partners.
SPARTA, which is an acronym for Specialty Program and Risk Transfer Alternatives, intends to underwrite property and casualty insurance for the specialty and alternative risk program marketplace. SPARTA is located in Hartford, Conn.
“We’re very pleased to have completed these transactions with an extremely knowledgeable and high caliber group of investors” said George L. Estes, III, SPARTA Chairman & CEO. “We look forward to further developing our operations and participating in the marketplace.”
In addition to Estes, SPARTA’s founding officers include Kevin G. Costello, president and COO, and Dawne E. Ware, chief financial officer.
Source: SPARTA
Topics Mergers & Acquisitions Carriers Excess Surplus Connecticut
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Boom in Hyperscale Data Centers Puts Re/Insurers to the Test 
Climate Change Keeps Adding to List of Uninsurable Assets, Allianz Executive Says 
Florida Supreme Court Ruling Could Mean New Pressure to Settle High-Dollar Lawsuits 
Why Are Property & Casualty Carriers So Profitable? 
