GI Partners, a US-based middle-market alternative asset manager, has completed the previously announced takeover of property & casualty insurance industry specialist Insurity.
The deal was originally announced in June this year.
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Insurity offers policy administration, claims, billing, and data analytics software to over 200 insurance clients.
Founded in 1985 and headquartered in the US, Insurity deploys its policy administration software and full-service solutions to Property & Casualty markets.
Its clients list includes global, national, regional insurance carriers, brokers, large MGAs, and municipalities and government entities, among others.
After the completion of the deal, GI Partners plans to speed up Insurity’s growth in policy administration and related software solutions.
GI Partners managing director Travis Pearson said: “Insurity represents a highly attractive opportunity for us to invest in a company and leadership team deeply committed to making its clients more successful through innovation and service.
“We were attracted to the company’s differentiated technology platform, its ability to deliver high levels of customer value, and its track record of operational excellence.
“This transaction will enable Insurity to continue expanding its solutions platform to offer a new level of experience to clients, as well as develop enhanced solutions to strengthen their businesses.”
Under the terms of the contract, Travis Pearson, Sendil Rajendran, Sean Turner, and John Wang from GI Partners will join Insurity’s board of directors.
GI Partners was established in 2001. It invests mainly in companies in the healthcare, IT infrastructure, services, and software sectors.
