Vanbridge LC has agreed to buy Alan Gray Inc. and Universal Insurance Services. Financial terms of both deals weren’t announced. Boston-based Alan Gray is an international insurance claims management and financial services firm. Universal Insurance Services, of Deerfield Beach, Florida, is a life insurance and financial advisory distribution firm. Both deals are expected to close by April 1. Investors of Vanbridge include Alvarez & Marsal Capital, KKR Capital Markets LP, Stone Point Capital and V.J. Dowling.
NEW YORK, March 3, 2015 /PRNewswire/ — Vanbridge LLC, an insurance intermediary, capital advisory and insurance and reinsurance management firm announced today that it has agreed to acquire Alan Gray, Inc., a highly respected international audit, actuarial, underwriting, reinsurance and risk management firm and Universal Insurance Services, considered one of the most innovative life insurance and financial advisory distribution firms in the country. Both acquisitions are expected to close on April 1st.
Vanbridge continues to hold a distinctive position in the market by virtue of its unique inter-disciplinary management team and its highly regarded strategic investors which include: Alvarez & Marsal Capital, KKR Capital Markets LP, Investment funds managed by Stone Point Capital and V.J. Dowling.
“Vanbridge will now have the capability to bridge languages, cultures and financial interests across the broad spectrum of the traditional (re)insurance and capital markets to deliver significant value to its clients and partners, particularly alternative asset managers,” commented Philip V. Moyles, Jr., Managing Principal & CEO of Vanbridge. No one insurance broker or investment bank currently offers this total integrated approach as a combined business enterprise—until now. “We are effectively bringing all of the services related to insurance, reinsurance and capital markets into a single organization that is focused on providing high-end, bespoke solutions and tailored portfolio aggregation programs,” continued Mr. Moyles.
The synergies resulting from the acquisitions will be immediate upon closing and allow Vanbridge to leverage the intellectual capital, technical capabilities and client relationships of all three firms to anticipate, innovate and develop creative (re)insurance solutions in capital markets, property and casualty as well as health and life insurance.
Vanbridge is managed by a team of industry experts and insiders with decades of experience and a very broad network of contacts. This remarkable combination of resources, along with those of their investors and other strategic capital partners will give them the capacity to source, provide due diligence services, advise, acquire and operate insurance related assets.
Alan Gray, Inc. was established in 1988 as a claims and audit advisory firm, and over the years has built a reputation as a cost effective, reliable and trusted resource to those involved in the management of risk. The firm provides claims administration and audit services, actuarial, underwriting, legal bill auditing, reinsurance collections and risk management services to clients including insurers and reinsurers, agencies, MGAs, self-insured corporation and public entities.
“All of us on the Alan Gray team look forward to being part of this dynamic organization. It will allow us to bring our traditional services to new clients while providing our long standing clients expanded solutions to help them achieve their business objectives,” remarkedMichael F. Ceppi, CEO of Alan Gray, Inc.
Universal Insurance Services (UIS) has the capabilities to focus on solutions and pricing not typically obtainable in the marketplace which allows the firm to effectively and efficiently secure life insurance and executive benefit programs for its clients. UIS’s distinctive model is not product or carrier specific and maintains a purely objective strategy when analyzing the marketplace. UIS consistently monitors industry trends as well as regulation in order to ensure potential strategies are flexible, competitive and responsive.
“Our combined experience in the insurance, private equity and financial industries, as both the advisor to the “buyer” and advisor to the “advisor”, has allowed us a unique perspective. We have services and options available to our clients we believe no one else can offer,” commented Michael C. Sorensen, Managing Partner of Universal Insurance Services.
Mitchell K. Smith, Managing Partner of Universal Insurance Services concluded, “We are effectively converging the insurance, reinsurance and executive benefits space and solving for what the marketplace is starving for–innovative change–and we believe we have unique options that have a distinctive advantage for our clientele.”
Dowling & Hales, LLC, together with its broker dealer-affiliate, Hales Securities, LLC acted as exclusive advisor.
Vanbridge is an insurance intermediary, capital advisory and insurance and reinsurance management firm that provides products and services at the intersection of the (re)insurance, private equity and hedge fund industries. Examples include insurance and employee-executive benefit programs tailored to the needs of private equity funds and their portfolio companies: transaction solutions; origination and management of (re) insurance-related principal opportunities for investors; and (re) insurance-related advisory and product development services. Clients include private equity firms, hedge funds, insurers, reinsurers and banks.
About Alan Gray, Inc.
Alan Gray, Inc. is an international insurance claims management and financial services firm headquartered in Boston, MA. Since 1988, AGI has helped its clients realize significant bottom line savings through its highly experienced technical staff, ability to adapt quickly to situational changes, and commitment to staying current with the latest industry information and advances in technology. Our superior claims advisory and audit services are tailored to the specific needs of each client.