PE Deals

J.C. Flowers sells ELMC subsidiaries to NSM Insurance Group

The acquisition includes Sequoia Reinsurance and its divisions Rockport Benefits and Insurance Resources and Auditing Services, LLC.

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  • J.C. Flowers invests in the financial services industry
  • Founded in 1998, the firm has approximately $4 billion of assets under management

NSM Insurance Group has acquired ELMC subsidiaries from J.C. Flowers. No financial terms were disclosed.

The acquisition includes Sequoia Reinsurance and its divisions Rockport Benefits and Insurance Resources and Auditing Services, LLC.

“J.C. Flowers is proud to have supported ELMC’s growth over the years to include some of the most well-respected managing general underwriters in the industry,” said Eric Rahe, managing director and co-president of J.C. Flowers, in a statement. “This is a positive outcome, and we believe these companies will continue to thrive as part of NSM.”

J.C. Flowers invests in the financial services industry. Founded in 1998, the firm has approximately $4 billion of assets under management.