TigerRisk Partners LLC, the global risk, capital and reinsurance brokerage and advisory, is targeting accelerated and growth has taken a strategic investment from private equity specialist Flexpoint Ford LLC.
The investment by the private equity investor will provide TigerRisk Partners with access to significant capital and resources, while the investor Flexpoint Ford will also bring its expertise in building world-class financial institutions.
Flexpoint Ford specialises in growth equity investments in the financial services and healthcare industries.
This new partnership with TigerRisk will aim to help the broker better assist its clients and also provide it with additional capital and expertise.
The TigerRisk leadership team will remain in place, with CEO and Co-Founder Rod Fox, and President Rob Bredahl both keeping their current roles. Current TigerRisk employees will continue to be significant shareholders in the company.
“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,” explained Rod Fox, CEO of TigerRisk. “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.”
Rob Bredahl, President of TigerRisk, 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.”
Chris Ackerman, Managing Director of Flexpoint Ford 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.”
Dominic Hood, Principal of Flexpoint Ford, commented, “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 transaction remains subject to regulatory approvals and closing conditions. Financial details were not disclosed.
Clearly, a private equity investment deal such as this has been in the works for a while, but timing can be everything and the injection of capital and resources at this time could be key to TigerRisk’s future.
Brokers have been among the slowest to get up to speed in the new world of remote working that has been forced on the insurance and reinsurance industry by Covid-19.
That means there could be an opportunity for a new intermediary model to come along, that embraces the virtual and leverages technology to maintain the relationships while also making the matching of risk to capital as efficient as possible.
Each of which are elements of the business TigerRisk has made a noise about in the past.
So it will be interesting to see how this deal with FlexPoint Ford changes things for TigerRisk and just how ambitious the company will be, at what is a time of change and elevated pressure for many across the insurance and reinsurance sector, which can present opportunities to those with the resources, ambition and strength to grow.