"We are excited to be partnering with NSM and AIG to build the world's leading specialty MGA platform," said Brent Stone, a Partner at ABRY. "The combination of NSM's expertise driving consistently profitable premium, ABRY's proven ability to grow businesses both organically and through acquisition and AIG's world renowned underwriting capabilities creates and opportunity to drive significant and sustained value for all parties involved."
"Having two strong, dynamic partners will only speed our growth and diversification in the niche specialty insurance business," said McKernan.
About NSM Insurance Group
For more than 26 years, NSM Insurance Group has been an industry leader in the development, implementation, marketing and underwriting of industry-specific insurance programs and has grown to over $500 million in annual premium.
NSM Insurance Group's unique model of blending innovative marketing, profitable underwriting discipline, and state of the art back-room processes, creates a corporate culture of profitability and growth. The Company's insurance programs include social services and behavioral health; CAT driven property; collector cars; workers' compensation; aviation; sports and fitness; microbreweries; and professional liability for lawyers, dentists, architects and engineers.
NSM Insurance Group is actively seeking profitable niche programs, existing books of business, MGAs and agencies. ContactGeof McKernan, CEO, at 610-941-9877 x116; GTMcKernan@nsminc.com or Bill McKernan, President, at 610-941-9877 x111;WTMcKernan@nsminc.com for more information, or visit www.nsminc.com.
About ABRY Partners
Founded in 1989, ABRY Partners is one of the most experienced and successful media, communications, business and information services focused private equity investment firms in North America. Since its founding, ABRY has completed over$61 billion of transactions, representing investments in over 550 properties. ABRY has a long standing and successful history of investment in the insurance services sector and its investment in NSM Insurance is in keeping with this strategy.