Insurance broker Acrisure hits $23 billion valuation after latest funding

Acrisure reports raising $725 million in a new funding round led by a wholly owned subsidiary of Abu Dhabi Investment Authority, valuing the insurance brokerage at $23 billion.

The company benefited from a jump in global commercial insurance premiums which rose 11% on average in the first quarter, according to brokerage Marsh, with the war in Ukraine adding to pressure on rates.

The Michigan-based company, which offers financial, cyber as well as asset and wealth management services to its

clients in the areas of insurance, reinsurance and real estate services, has seen its turnover increase from 38 million dollars to 3.5 billion dollars over the last eight years.

Acrisure plans to use the latest funding, backed by select Guggenheim Investments and Oak Hill Advisors clients, to build brand awareness and invest in people and technology infrastructure, according to a statement.

Founded in 2005, the company was valued at $17.5 billion, including debt, in March this year when it raised $3 billion.

CEO Greg Williams and a consortium of minority investors bought Acrisure in a $2.9 billion deal with private equity firm Genstart Capital in November 2016.

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M&A Agencies