Insurance Distribution Investing Group, (IDIG), a joint venture formed in June of this year and backed by the insurance industry executives of The Capacity Group and by Dowling Capital Partners, announced the close of their previously announced transaction by acquiring a 50% ownership stake in Risk Transfer and affiliated companies of Risk Transfer.
Risk Transfer, an innovative insurance program manager specializing in difficult-to-place risks, Libertate, its small traditional commercial and personal lines provider, as well as RiskAware, its loss control and claim advocacy division are all included in the transaction.
RiskMD, Risk Transfer’s patent-pending technology company is also included in the transaction with a future option for IDIG to purchase a greater equity stake.
IDIG was founded to bring together industry experts and professionals in all insurance disciplines and to support owners and managers with a focus on innovation, products, and relationships.
RiskMD technology paired with the industry expertise of IDIG will bring unprecedented capabilities and efficiencies to the Dowling/Capacity universe.
"We’re excited to achieve this type of partnership and begin to see it flourish," IDIG’s Managing Partner, Gary S. Maier, stated.
"Risk Transfer’s standing in their chosen industry is quite impressive. Their level of commitment and innovation to their customers and trading partners is a major differentiator. IDIG will further enhance and expand on their model by improving market and product positioning, and offering ways to further differentiate on expertise and customer innovation."