Insurance and reinsurance brokerage TigerRisk Partners, LLC has secured a strategic investment from private equity firm Flexpoint Ford LLC, enabling the company to accelerate its current growth trajectory through access to additional capital and expertise.
Flexpoint Ford is a private equity firm that specialises in the financial services and healthcare sectors, having completed numerous investments in the insurance industry across P&C carriers, insurance distribution, and claims adjusting since its inception in 2005.
This new transaction with TigerRisk is expected to enhance the reinsurance broker’s ability to assists clients and provide both additional capital and expertise in an unprecedented market environment.
Following the transaction, TigerRisk’s management team, including Chief Executive Officer (CEO) and Co-founder Rod Fox, and President Rob Bredahl, will remain in their current roles. Furthermore, current employees will remain significant stakeholders in the firm.
Fox commented: “Our partnership with Flexpoint Ford will provide us with the added resources to help our clients navigate this difficult period, capitalize on a dynamic competitive landscape and continue our strong growth trajectory. As an independent firm with significant employee ownership, TigerRisk will remain committed to providing the same level of high-quality client service, innovation and execution which has served as the foundation of our success over the past 12 years.”
Bredahl added: “This milestone demonstrates the value of the TigerRisk platform and is a testament to our employees’ hard work, dedication and commitment to building a business focused on providing excellent advice and service to our customers. Flexpoint’s deep experience in the insurance sector and shared vision for TigerRisk’s growth will position us to extend our reach through further talent acquisition and the expansion of new products and geographies.”
The Managing Director of Flexpoint Ford, Chris Ackerman, said: “We have known the TigerRisk team for many years and are thrilled to partner with such a talented group of executives and employees as they continue to build on the market-leading platform the team has established.”
And Dominic Hood, Principal of Flexpoint Ford, added: “TigerRisk has a well-established reputation for providing best-in-class innovative solutions across the capital spectrum and we are excited to have the company at the epicenter of our insurance portfolio as we partner with TigerRisk on their next phase of growth.”
The deal remains subject to customary regulatory approvals and closing conditions. The financial details of the transaction were not disclosed.
