Reinsurance News

Acrisure secures $725m in new funding

31st May 2022 - Author: Pete Carvill

Acrisure has secured additional funding to fuel its ongoing global expansion further.

acrisure-logoThe firm said it had closed $725m in Series B-2 Preferred Equity and received a $23bn valuation, representing a 31% increase from its last preferred equity raise in March 2021.

The round of investing was led by the Abu Dhabi Investment Authority (ADIA), with participation from Guggenheim Investments on behalf of certain clients and Oak Hill Advisors.

Acrisure said the new funding will it to continue pursuing value-accretive acquisitions, grow its tech enabled solutions, increase marketing and brand awareness, and invest in human and technological infrastructure to support it growth.

Greg Williams, co-founder, CEO and president of Acrisure, said: “This investment is a testament to our strategic direction and ability to innovate and adapt to the needs of our customers,” said. “We are thrilled to partner with ADIA and OHA, premier, globally recognized investment institutions, and continue our work with Guggenheim. This transaction reaffirms how the market, and our partners, value the strength of our performance and trajectory for future growth.”

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The news comes after the firm signalled its intention to grow through recent acquisitions. In May, it hired Duncan Ainsby from WTW to lead its new Asia facultative operation while at the same time naming Matthew Kirk as its new executive vice president and head of insurance strategy and execution.

Acrisure has also made a number of acquisitions in the first half of 2022. It acquired Summa Insurance Brokerage in March, while announcing its plans to acquire Volante Global a few weeks later. It also announced a partnership with Coalition in May to unveil its Cyber Risk Assessment product, designed to help organisations understand their cyber and digital risk exposure.

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