Alliant Insurance Services, one of the nation’s largest independent insurance brokerage firms, has announced that the Public Sector Pension Investment Board (PSP Investments) is making an investment in the firm.
The investment by the Canadian pension investment manager is joined by an additional investment from funds managed by Stone Point Capital LLC. Following the transaction, funds managed by Stone Point will remain Alliant’s largest institutional shareholders, while the company’s management and producers will continue to own the majority of the firm.
“Alliant looks forward to partnering with PSP Investments as we enter this exciting new stage in our growth strategy,” said Tom Corbett, Chairman and CEO of Alliant. “Both PSP and Stone Point have a proven history of success in our industry, and their combined financial strength and market expertise will be a significant asset to Alliant as we move forward.”
“Alliant is one of the nation’s leading insurance brokerage platforms, with proven leadership, broad industry reach, and operational strength,” said Martin Longchamps, Managing Director at PSP Investments. “We embrace the opportunity to work alongside Alliant in facilitating its continued growth and expansion.”
“We are delighted to be partnering with PSP and the Alliant management team in this transaction and increasing our investment in Alliant,” said Jim Carey, Senior Principal at Stone Point Capital. “Alliant is a premier specialty insurance brokerage business with industry-leading organic growth. We are looking forward to continuing with the company in the next phase of that growth.”
Source: Company Press Release