San Diego, Calif.-based Align Financial Group LLC has partnered with private equity firm Excellere Partners, of Denver, to form Personable Holdings Inc., an independent, non-standard auto insurance provider.
Personable Holdings recently acquired the non-standard auto insurance operations of Align General Insurance Agency, which include partnerships with multiple insurance carriers with independent agents in California and Texas.
The company plans to expand its capabilities via the organic extension of its service offerings and acquisitions of additional non-standard auto assets and businesses in a number of key strategic states.
“We are building a non-standard auto insurance company that will efficiently deliver a choice of competitive products to independent agents via a single point of access for policy sales and servicing,” Kieran Sweeney, chairman of Personable and CEO of Align, said in a statement.
“Personable currently partners with quality insurance carriers and a deep network of independent agents to provide non-standard auto insurance customers with an efficient way to obtain the affordable coverage options they require,” Andy Swindall, CEO of Personable, said in a statement. “We are actively seeking to acquire businesses that augment our existing capabilities and infrastructure to further enhance the products and services provided to our insurance carrier and independent agent partners,” he continued.
Align Financial Group LLC is a Delaware domiciled insurance holding company that owns Align General Insurance Agency Inc., Public Livery Insurance Services Inc. and E.L.M Insurance Brokers Inc., which act as a general agency, program underwriting manager and wholesale broker.
Excellere Partners reportedly manages $730 million in committed capital.
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