Novel Financial Holdings, Inc., a holding company building a diversified underwriting and insurance services platform, has received an investment from private equity firm Crestview Partners to support its continued expansion across insurance underwriting and services while broadening its ownership base.
Launched in 2025 and led by CEO Rob Bredahl, Novel manages both policyholder-owned reciprocal exchanges, through its ownership of attorney-in-fact (AIF) entities, and traditional stock insurance companies, through direct ownership and service contracts.
Novel’s strategy includes continued partnerships with established underwriting organisations, including SageSure and other third-party managing general agents, alongside the development of its own individual risk underwriting capabilities and expansion into additional specialty and casualty lines of business.
Crestview’s insurance expertise, extensive industry relationships, and ability to provide additional capital will reportedly be key for Novel. The new investment follows one from Flexpoint Ford earlier this year.
Rob Bredahl, Chief Executive Officer of Novel, commented, “As we continue to scale and diversify Novel, we are excited to partner with Crestview, a firm that has been investing across insurance and reinsurance for two decades and has backed insurance businesses through full market cycles.
“Crestview brings not only flexible capital but also meaningful sector expertise and relationships that will support our growth for years to come.”
Dan Kilpatrick, Partner and Head of Financial Services at Crestview, said, “We are thrilled to be partnering with Rob and the terrific team at Novel.
“We believe Novel has assembled a unique and compelling set of capabilities combining insurance underwriting, reciprocal exchange management, and specialised insurance services that positions it to thrive in today’s fast-evolving insurance market. We are excited to help the organisation drive further growth.”
Howden Capital Markets & Advisory served as exclusive financial advisor to Novel on the transaction.
