U.S. private equity firm Aquiline Capital Partners recently purchased a majority equity interest in Beach & Associates Ltd, a specialty reinsurance intermediary based in Toronto. The financial details of the acquisition were not disclosed. Jonathan Beach, the company’s founder and chairman, will retain a significant investment stake. Beach’s senior partners have invested alongside Aquiline and will own approximately 15 percent of the company. Beach, which was founded in 1988, said the deal will provide it with expertise and capital to strengthen the business.
Aquiline Capital Partners Announces Investment in Beach & Associates
November 14, 2014
NEW YORK–(BUSINESS WIRE)–Aquiline Capital Partners (“Aquiline”), a New York-based private equity firm investing in financial services, today announced it has made an investment for a majority of the equity in Beach & Associates (“Beach”), a leading independent and global specialist reinsurance intermediary.
“This investment will allow us to continue our model of serving our clients with a team-oriented and forward-looking approach.”
Since its founding in 1988, Beach has built a reputation as an innovative organization with differentiated technical capabilities and understanding of complex risks. Beach has a high-quality actuarial team and is recognized for its success in working with clients to understand their risk tolerance and identify advantageous reinsurance alternatives.
“The Aquiline team shares our vision for the Company and we look forward to leveraging their insurance expertise and capital investment to strengthen our business,” said Grahame Millwater, Chief Executive Officer of Beach & Associates. “This investment will allow us to continue our model of serving our clients with a team-oriented and forward-looking approach.”
Beach’s leadership has built the business into a stable and growth-oriented entity that is well-positioned to take advantage of opportunities in a dynamic operating environment. The Company’s Founder and Chairman, Jonathan Beach, will retain a significant investment in the firm and remain on its Board of Directors. Beach’s senior Partners have invested in the company alongside Aquiline and will own approximately 15 percent of the company.
“With Grahame Millwater’s leadership, we see opportunity for Beach & Associates to develop and expand in the current market,” said Jeff Greenberg, Chief Executive Officer of Aquiline. “We look forward to working with Grahame and the rest of the senior leadership team.”
About Beach & Associates
Beach is a leading independent specialty reinsurance intermediary with a reputation for innovative reinsurance placements for complex and technical books of business. Operating in London, Bermuda, Toronto, and New York, Beach works with major insurance companies to understand and achieve corporate risk management goals through the purchase of reinsurance.
About Aquiline Capital Partners LLC
Aquiline is a private equity firm based in New York investing in middle-market businesses across the financial services sector in banking and credit, insurance, investment management and markets, and financial technology. Aquiline targets specialized businesses that have potential for improved performance and growth in conjunction with Aquiline’s equity ownership and active involvement. The Firm consists of industry experts who use their operating experience and a hands-on approach to build value in portfolio companies.
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