Insurance Advisory Partners

IAP Acted As Exclusive Financial Advisor To Certain Funds Managed By Stone Point Capital LLC In Connection With The Sale Of Their Majority Stake In ARC Excess & Surplus, LLC (“ARC”) To CRC Group (“CRC”)

On May 1, 2025, CRC Group announced its acquisition of ARC Excess & Surplus, LLC from certain funds managed by Stone Point Capital LLC. ARC meaningfully strengthens CRC’s specialty capabilities, placing over $1bn in annual premium, focused on management and professional liability.

IAP Acted As Exclusive Financial Advisor To Certain Funds Managed By Stone Point Capital LLC In Connection With The Sale Of Their Majority Stake In ARC Excess & Surplus, LLC (“ARC”) To CRC Group (“CRC”) Read More »

IAP Acted As Exclusive Financial Advisor To Patriot Select & Placement Agent For The Notes

On April 15th, 2025, Patriot Select Property & Casualty Insurance Company (“Patriot”) announced that it is entering the residential property insurance market in Florida and has raised capital in the form of promissory notes and surplus notes (collectively, the “Notes”) from a consortium of institutional investors, individual investors and strategic partners. Additionally, Patriot expects to obtain a financial strength rating acceptable to all mortgage markets in Q2 2025.

IAP Acted As Exclusive Financial Advisor To Patriot Select & Placement Agent For The Notes Read More »

IAP Acted As The Exclusive Financial Advisor To Baldwin And Placement Agent For The Notes In Connection With A $110 Million Note Purchase Agreement Supporting Anticipated Launch Of Debut Baldwin-Sponsored Reciprocal Exchange

On March 26th, 2025, The Baldwin Insurance Group, Inc. (“Baldwin”) announced that, in connection with the anticipated launch of its debut Baldwin-sponsored reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (“BRIE”), BRIE has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus note debentures (the “Notes”). $95 million of the Notes will be funded by an affiliate of Gallatin Point Capital LLC (“Gallatin Point”), with the remainder funded by affiliates of Baldwin.

IAP Acted As The Exclusive Financial Advisor To Baldwin And Placement Agent For The Notes In Connection With A $110 Million Note Purchase Agreement Supporting Anticipated Launch Of Debut Baldwin-Sponsored Reciprocal Exchange Read More »

IAP Acted As Exclusive Financial Advisor To Optio On Its Acquisition Of S Insurance

On March 3, 2025, Optio Group, an independent specialty MGA, announced the acquisition of Norwegian-based MGA S Insurance AS.
The transaction is a further strategically significant step for Optio in creating a diversified buy-and-build platform through the acquisition of high-quality, niche speciality MGAs across Europe. It follows Optio’s acquisitions of Netherlands and-Brussels based MGA Den Hartigh and Luxembourg-based Circles Group and its strategic investment in Italian MGA, Heca S.r.l.

IAP Acted As Exclusive Financial Advisor To Optio On Its Acquisition Of S Insurance Read More »

IAP Acted As Financial Advisor To Velocity And Oaktree In Connection With The Sale Of VRU (MGU) And VSIC (E&S Insurance Carrier)

On January 7th, 2025, Ryan Specialty (“Ryan”) announced it signed definitive agreements to acquire Velocity Risk Underwriters, LLC (“VRU”). VRU is a leading managing general underwriter, founded in 2015 and based in Nashville, TN, that provides first-party insurance coverage for catastrophe exposed properties (named storm, earthquake, and tornado and hail). Ryan has an implied market capitalization of ~$16.2bn (as of January 6th, 2025) and acts as a wholesale broker and a managing underwriter with delegated authority from carriers. VRU is to be acquired by Ryan for an upfront cash consideration of $525m.

IAP Acted As Financial Advisor To Velocity And Oaktree In Connection With The Sale Of VRU (MGU) And VSIC (E&S Insurance Carrier) Read More »

IAP Acted As Exclusive Financial Advisor And Provided A Fairness Opinion To Maiden Holdings, Ltd. On Its Combination With Kestrel Group LLC

On December 30, 2024, Maiden Holdings, Ltd. (“Maiden”), a Bermuda-based leader specializing in legacy services and finality solutions for the insurance and financial services industries, announced the combination with Kestrel Group LLC (“Kestrel”), a Dallas and Austin, TX, based strategic entity created to service program managers, MGAs, reinsurers and reinsurance brokers.

IAP Acted As Exclusive Financial Advisor And Provided A Fairness Opinion To Maiden Holdings, Ltd. On Its Combination With Kestrel Group LLC Read More »

IAP Served As Exclusive Financial Advisor To ATRI Insurance Services On Its Sale To Platinum Specialty Underwriters

On December 12th, 2024, ATRI Insurance Services, LLC (“ATRI”), an MGA specializing in management and professional liability programs, completed the sale of its business to Platinum Specialty Underwriters, LLC.

IAP Served As Exclusive Financial Advisor To ATRI Insurance Services On Its Sale To Platinum Specialty Underwriters Read More »

Behind the Headlines: Insurance Advisory Partners’ Tony Ursano on tailwinds in the M&A market

Recently, Insurance Advisory Partners’ Managing Partner & Co-founder, Antonio (Tony) Ursano, had the opportunity to sit with Samuel Casey of Insurance Insider on Sam’s podcast, Behind the Headlines, to discuss trends, M&A and more in the insurance industry.

Behind the Headlines: Insurance Advisory Partners’ Tony Ursano on tailwinds in the M&A market Read More »

IAP Serves As Exclusive Financial Advisor To Ryan Specialty On Its Potential Acquisition Of Innovisk Capital Partners

On October 30, 2024, Ryan Specialty, a leading international specialty insurance services firm, announced the intent to acquire Innovisk Capital Partners, an international organization with a diverse, non-correlated portfolio of seven highly regarded specialty MGUs.

IAP Serves As Exclusive Financial Advisor To Ryan Specialty On Its Potential Acquisition Of Innovisk Capital Partners Read More »

IAP Acted As Exclusive Financial Advisor To Pivix Specialty Insurance Services, Inc. With The Formation Through A Partnership With Ambac Financial Group, Inc.

On October 8, 2024, Ambac Financial Group, Inc. (NYSE: AMBC) (“Ambac”) announced it has partnered with Mike Miller and his team on the launch of Pivix Specialty Insurance Services, Inc. (“Pivix”). Pivix is a managing general agency focusing on the excess and surplus (“E&S”) lines market. Ambac is an insurance holding company that is a growing specialty P&C distribution and underwriting platform.

IAP Acted As Exclusive Financial Advisor To Pivix Specialty Insurance Services, Inc. With The Formation Through A Partnership With Ambac Financial Group, Inc. Read More »

IAP Acted As Exclusive Financial Advisor To ISO Student Health Insurance On Its Sale To NSM Insurance Group

On July 29, 2024, ISO Student Health Insurance (“ISO”), a leading provider of international student health insurance, announced the sale of its business to NSM Insurance Group, a global specialty insurance provider.

IAP Acted As Exclusive Financial Advisor To ISO Student Health Insurance On Its Sale To NSM Insurance Group Read More »

IAP Acted As Exclusive Financial Advisor To Applied Underwriters, Inc. On Its Sale Of Centauri Specialty Insurance Holdings, Inc.

On April 18, 2024, Applied Underwriters, Inc. (“Applied Underwriters”) announced the strategic sale of Centauri Specialty Insurance Holdings, Inc. (“Centauri”) to Lilypad Insurance Holdings Inc. (“Lilypad”). Centauri is a property and casualty insurance company licensed to serve policyholders in 10 states. Lilypad is a newly formed coastal risk specialty insurer and subsidiary of Arbol Inc., a global climate risk solutions provider.

IAP Acted As Exclusive Financial Advisor To Applied Underwriters, Inc. On Its Sale Of Centauri Specialty Insurance Holdings, Inc. Read More »

IAP Acted As Exclusive Financial Advisor To GeoVera Insurance Holdings, Ltd. On The Sale Of Its Insurance Carriers And MGA

On April 9, 2024, GeoVera Insurance Holdings, Ltd. (“GeoVera”), a leading provider of specialty property insurance focused on catastrophe-exposed properties in the earthquake and wind markets, announced the sale of its insurance carriers and MGA.

IAP Acted As Exclusive Financial Advisor To GeoVera Insurance Holdings, Ltd. On The Sale Of Its Insurance Carriers And MGA Read More »

Data and Technology: The Major Trends on Insurance’s Horizon | Clive Buesnel (Managing Partner, International) at Insurance Advisory Partners

Clive Buesnel (Managing Partner, International) at Insurance Advisory Partners, shares his views on the role of tech and data in delivering business impact in the industry, and its potential to unlock broader opportunities in the market.

Data and Technology: The Major Trends on Insurance’s Horizon | Clive Buesnel (Managing Partner, International) at Insurance Advisory Partners Read More »

IAP’s Ursano predicts “up to 10” new reciprocal exchange launches in 2024 amid heightened interest

Interest in new reciprocal exchanges may be at a record high with investors attracted to heightened valuations and operators to the greater stability of capital and capacity than that offered by many MGAs, according to sector specialist and veteran (re)insurance banker Tony Ursano.

IAP’s Ursano predicts “up to 10” new reciprocal exchange launches in 2024 amid heightened interest Read More »