Specialty brokerage Axis Insurance gets strategic growth investment
Axis Insurance Managers, an independent specialty insurance brokerage, has secured strategic investment from a middle-market firm to accelerate its growth in the Canadian market.
Axis Insurance has received the investment from funds managed by Lee Equity Partners.
Lee Equity has previously invested in the insurance sector, including in Captive Resources, McLarens, K2 Insurance, Simplicity Group, and Universal American, amongst others.
As part of the transaction, Axis Insurance founder and chief executive officer, Alex Meier, retained the majority of his equity stake in the company.
Meier said: “Our team is excited to partner with a seasoned financial services investor with a deep understanding of the insurance industry. We have made great strides in building out an exceptional national business. The investment partnership with Lee Equity will provide an incredible opportunity to accelerate our growth and vision to be best-in-class in every category of our industry.”
Mark Mauceri, partner, Lee Equity, said: “Axis Insurance is an emerging leader in specialty commercial insurance with an impressive track record of growth. There's great potential for the Company to become a leading, national broker in the Canadian market.”
Mark Gormley, partner, Lee Equity, said: “We have been highly impressed with the thoughtful approach Axis Insurance has taken to building a market leading business, and we are excited to partner with Alex and the Axis leadership team to capitalise on the many opportunities ahead.”
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