private equity in insurance News

Sectors Under Pressure, Such as Insurance, Remain Private Equity Targets: Apollo Exec

Private equity billionaire Joshua Harris thinks there are still plenty of undervalued companies to improve and profit from, especially away from the public markets. “Certainly, this is not a value-oriented environment,” said Harris, senior managing director of Apollo Global Management, …

$6 Million Invested in New U.S. Wholesale Broker XPT Led by Veterans Ruggieri, Smith

London-based private equity firm B.P. Marsh & Partners has invested $6 million in a startup New York-based specialty lines insurance distributor that is headed by several well-known wholesale insurance executives. The management team at the new firm, which is named …

Private Brokers More Active But Private Equity Still Leads in Agency Acquisitions

Well-capitalized private equity investors still have an advantage among buyers of insurance agencies, but privately-held brokers continue to be among the most active players in agency mergers and acquisitions, according to Reagan Consulting. Also, while consolidation continues in the ranks …

ABRY Partners Replaces BHMS as Investor in Hilb Group Expansion

Boston-based private equity firm ABRY Partners has completed a significant investment in the The Hilb Group, a Richmond, Virginia-based insurance group. In connection with the transaction, The Hilb Group said its current private equity partner, BHMS Investments, which came onboard …

Alliant Reports ‘Significant’ Investment from Stone Point Capital

Specialty insurance brokerage Alliant Insurance Services announced what it termed “a significant equity investment” from funds managed by Stone Point Capital LLC. The Newport Beach, California-based broker, which is also backed by the investment manager Kohlberg Kravis Roberts & Co. …

Wall Street Journal: Collapse of Southport Lane’s Insurance Empire

An insurance empire that included two insurance carriers, two offshore reinsurers, several buildings and other insurers’ investments was built by a private equity firm in part on questionable assets and is now being dismantled, according to the Wall Street Journal. …

Applied Systems Acquired by Hellman & Friedman from Bain Capital for $1.8B

Applied Systems Inc., a leading insurance software provider, said it has agreed to be acquired by investment funds advised by private equity firm Hellman & Friedman LLC. The company is being acquired from the global private investment firm Bain Capital …

P/C Mergers Down in 2012 But Private Equity Still Favored Brokers: Conning

Amounting to just $4.7 billion in aggregate deal value, the 46 merger and acquisition transactions announced in the property/casualty insurance sector in 2012 were near record low levels, according to the latest annual M&A study from Conning. In the last …