FT Partners Advises Insureon on its Strategic Acquisition of Insurance Noodle
Overview of Transaction
- On January 7, 2014, Insureon ("Insureon" or the "Company") announced its acquisition of Insurance Noodle ("Insurance Noodle" or "Noodle"), a former subsidiary of Willis Group
- Insureon is the leading online insurance agency and delivery platform for small-and-micro business owners
- Insurance Noodle is a premier small commercial and personal insurance online broker
- Terms of the transaction were not disclosed
Significance of Transaction
- Enables greater operational efficiency; opportunity to leverage scalable platform with over $100mm in total combined premium
- Positions combined business to even better serve small business owners in need of commercial insurance
- Provides Insurance Noodle's brokers / agents increased access to Insureon's technology platform, wide product offering covering more than 550 industry segments, vertical-specific underwriting and expertise, and "A" rated carrier network
- Combination of Insureon's successful online strategy with Noodle's network of brokers / agents supports Insureon's long-term plans
- Provides significant footprint for Insureon in the independent and captive agent market
- Reinforces importance of the large population of small-and-micro businesses to the commercial insurance market and U.S. economy
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor for the acquisition and related financing to Insureon and Accretive LLC, the Company’s controlling shareholder
- FT Partners leveraged its deep insurance industry knowledge and experience to help Insureon execute a highly successful acquisition
- Transaction demonstrates FT Partners' continued success in advising leading insurance technology and services clients across the financial technology landscape