Newport Beach, CA -(BusinessWire)- Alliant Insurance Services, the nation’s largest specialty insurance brokerage firm, today announced a significant equity investment from funds managed by Stone Point Capital LLC. In connection with the transaction, funds managed by Stone Point will become Alliant’s largest institutional shareholders. Following the transaction, Alliant’s existing shareholders, which include the company’s management and producers as well as funds affiliated with KKR, will remain significant shareholders in the business.
“This new partnership is a significant and positive move for Alliant, as it represents the expansion and diversification of our private equity support,” said Tom Corbett, Chairman and Chief Executive Officer of Alliant. “Stone Point will be a valuable resource to our organization as we continue to pursue growth opportunities across all aspects of our business. We are honored to stand alongside Stone Point and KKR in a true multifaceted partnership.”
“We are delighted to be partnering with the Alliant management team and KKR. We have known Tom Corbett, Ralph Hurst, and Greg Zimmer for many years, and we believe they have built a highly successful and differentiated business that delivers specialized solutions for clients,” said Chuck Davis, Chief Executive Officer of Stone Point.
“We have enjoyed a fantastic partnership with the Alliant team over the last three years. We have tremendous respect for the franchise that the Alliant team has built and we are excited to continue working with them alongside Stone Point in the future,” said Tagar Olson, Member of KKR and Head of the financial services investment team.
KKR made the investment from its North American XI fund.