Specialty insurance platform DOXA announced it has acquired LimitFi, a platform for capital and credit-risk insurance products.
Connecticut-based LimitFi specializes in default-risk transfer and alternative credit products including non-payment insurance. The platform connects banks and lenders seeking capital relief and risk transfer with insurance and reinsurance capital providers, with a focus on higher-value specialty transactions in often underserved markets.
Terms were not disclosed.
LimitFi brings credit insurance, private capital and structured finance expertise to DOXA and is supported by specialists in credit, analytics, and portfolio management.
Following the acquisition, LimitFi co-founders Adam Budnick and Zach Smith will continue to lead LimitFi, as co-presidents of the business. LimitFi employees will also remain in place.
The acquisition expands Indiana-based DOXA’s portfolio of niche insurance offerings. The move also strengthens the company’s capabilities across insurance, banking, private credit, structured finance and capital markets.
“LimitFi’s experience and strength in structured credit markets contribute well to our continued strategic expansion of specialty insurance managing general agents,” said Kevin Wall, president of DOXA.
DOXA acquires insurance program administrators, underwriting and program distribution companies and provides them with centralized sales, marketing, underwriting and operational support. DOXA offers hundreds of custom specialty insurance programs in support of more than 20,000 agent-broker relationships in all 50 states.
Topics Mergers & Acquisitions
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