Apax Partners has completed the acquisition of property and casualty (P&C) insurer AssuredPartners from private equity firm GTCR.

Financial terms of the deal, which was first announced in July this year, have not been disclosed.

Claimed to be the sixth largest P&C insurance brokerage in the US, AssuredPartners has offices in around 30 states of the US, the District of Columbia and London.

As part of the leaders strategy, GTCR collaborated with insurance brokerage industry leaders Jim Henderson and Tom Riley to create AssuredPartners in 2011.

The company completed 112 acquisitions since its formation and became one of the leading middle market insurance brokers in the US.

At the time of acquisition, GTCR managing director David Donnini said: "The acquisitions and growth that Jim and Tom and the entire Assured team accomplished over the last four years represent another excellent example of GTC R successfully executing The Leaders Strategy."

GTCR invests in the financial services and technology, healthcare, technology, media and telecommunications and growth business services industries.