Ryze Claim Solutions, a full-service claims management business, announced it has entered a definitive agreement to be recapitalized by Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital.
Following the transaction, Ryze will be majority-owned by Bain Capital Insurance with members of the management team and select individuals, including VJ Dowling, Dave Delaney, and Stuart Myers, retaining a meaningful ownership stake in the business. Ryze will continue to operate under its current management team led by Executive Chairman, Tony Grippa, and President, Scott St. John. Financial terms of the private transaction were not disclosed.
Bain Capital announced last year it had raised $1.15 billion for its first fund dedicated to investing in the insurance industry.
Noblesville, Indiana-based Ryze is a provider of full-service residential and commercial claims management solutions to the insurance carrier, hybrid or fronting carrier, and managing general agent (MGA) markets.
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