Thursday, September 29, 2022

Investment firm – Partners Group acquires US specialty insurance brokers

The seller is US private equity firm Warburg Pincus, which will retain minority status, the Zug-based company announced Tuesday. No information was given about the price.

In addition, according to the announcement, the management of FRP should hold a stake in the company. Headquartered in Daytona Beach, Florida, the company has 139 offices in 18 states, with a focus on Florida, New Jersey, New York and California.

FRP’s areas of expertise are reported to include commercial insurance, employee benefits, personal insurance and risk management services. FRP helps customers, including small and medium-sized businesses as well as the wealthy, with risk assessment, securing appropriate insurance coverage at competitive prices, and claims management.

Partners Group now seeks to work with management to drive FRP’s continued growth. The acquisition strategy should also be “sophisticated”, with investments made in the product range and technology introduced in new areas and optimization of the operating model.

(AWP)

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