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Thomas H Lee Partners to invest up to $200m in insurance brokerage sector

28 May 2014

dollarPrivate equity firm Thomas H Lee Partners (THL) has teamed up with insurance industry veterans Bret Quigley and Adam Meyerowitz to launch insurance distribution business Prime Risk Partners.

THL has agreed to invest up to $200m in Prime Risk Partners.

Quigley will serve as chairman and CEO of Prime Risk Partners and Meyerowitz will be the company’s executive vice president.

Quigley most recently served as vice chairman of insurance brokerage Beecher Carlson, which was acquired by Brown and Brown in July last year.

Meyerowitz has spent nine years at Beecher Carlson as its senior vice president and general counsel.

THL managing director Soren Oberg said, “We have studied the insurance brokerage sector for over ten years, and believe this is an attractive space in which to invest capital.

“We have spent considerable time with Bret and Adam evaluating this opportunity and their capabilities and are confident that we have found the right team to drive this vision and execute against it.”

Earlier this year THL bought online contact business 1-800 Contacts from health insurer WellPoint.

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