AssuredPartners, which is backed by GTCR, has bought Baronsmead Partners. London-based Baronsmead provides specialist protection to investment fund managers. The company produced about $2.4 million in revenues.
LAKE MARY, Fla. (PRWEB) December 03, 2014
AssuredPartners Inc., through its subsidiary Herbert L. Jamison & Co., has acquired the business of Baronsmead Partners LLP, headquartered in London. Baronsmead provides specialist protection to investment fund managers, including: professional indemnity insurance, directors’ and officers’ liability insurance, fund and general partner corporate liability insurance, and employee practices liability insurance. Baronsmead reports revenues of approximately $2.4 million.
As part of the acquisition, the entire Baronsmead client service team will make the transition and will continue in London as part of Assured Partners’ London operations, Paul Napier and Grosvenor Brokers. Baronsmead’s team leader, David Heathfield, becomes Divisional Director of Asset Management Insurance for the combined asset management business of Paul Napier and Grosvenor Brokers.
“Since 2002, Baronsmead has led the way in providing bespoke coverage to help investment fund managers protect themselves and the assets of their company. Our goal is to continue providing the best protection against the legal and operational risks faced by managers,” said David Heahfield of Baronsmead. “As part of AssuredPartners, we will team with Grosvenor and Paul Napier to enhance market reach, product range, and service capabilities for current and future clients.”
“The Baronsmead acquisition strengthens the AssuredPartners presence in the United Kingdom, and our asset management insurance offerings in Europe,” said Tom Riley, President and COO of AssuredPartners, Inc. “We welcome Baronsmead Partners employees and clients to the AssuredPartners team.”
For more information about Baronsmead, please visit: http://www.baronsmead.com/.
ABOUT ASSUREDPARTNERS, INC
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners Inc., a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to approximately $400 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with more than 80 offices in 27 states and a London office. Since 2011, AssuredPartners has acquired more than 75 insurance firms. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visithttp://www.assuredptr.com.