Private Equity Fund Aquiline Acquires Consultant Conning from Swiss Re

Private equity firm Aquiline Capital Partners LLC, which is run by Jeffrey Greenberg, has acquired insurance consulting and asset management provider Conning & Co. from Swiss Reinsurance Co. Ltd.

Conning & Co. reported the closing of the transaction today.

Conning is headquartered in Hartford, Connecticut with additional offices in New York, London and Dublin.

Terms of the deal were not disclosed.

When the deal was announced in June, Hartford, Conning said it would use Aquiline’s investment to strengthen its infrastructure, add to its services, acquire talent and pursue strategic opportunities.

Conning has about $70 billion of general account assets under management and $100 billion of total assets under contract.

New York-based Aquiline invests in financial services companies including property and casualty insurance, asset management and life insurance.

Greenberg, who had been chief executive of insurance broker Marsh & McLennan Cos., is the son of former American International Group Inc. Chief Executive Maurice “Hank” Greenberg.