US-based private equity firm TA Associates has acquired a significant stake in core insurance processing and data integration and analysis solutions provider, Insurity, from Genstar Capital.


Terms of the transaction have not been disclosed, however, TA Associates will join on the Insurity’s board of directors as part of the deal.

Genstar Capital managing director Ryan Clark said: "This successful investment in Insurity is a great example of the Genstar playbook in action.

"We leveraged our expertise and executive network across the financial services and software verticals to identify a unique investment opportunity; we partnered with a great management team; we augmented the board with experienced industry executives from our network; and we provided the capital to make strategic product investments and complete an accretive acquisition."

Based in Hartford of Connecticut, Insurity offers policy administration, claims, billing, and analytics software to around 100 insurance companies.

The firm’s clients include companies such as Scottsdale Insurance, Philadelphia Insurance Companies, and Munich Re.

According to Genstar, Insurity customers write for personal lines and commercial lines insurance and represent more than $12bn of commercial insurance premium processed through the Insurity suite of products.

Genstar acquired insurance software solutions business from LexisNexis in 2011. With the help of founder Jeffrey Glazer, Genstar established the business as an independent company and rebranded it as Insurity. Glazer joined the company as president and CEO.

Glazer added: "Genstar Capital and TA Associates are aligned with us regarding our business growth direction in the property and casualty market through our portfolio of solutions."

Image: TA Associates has acquired stake in insurance software solutions business, Insurity. Photo: courtesy of renjith krishnan/