![]() ![]() Transverse was founded using funds from Virgo Societas Partnership IV alongside co-investment vehicles.įounded in 2009, Virgo is a private investment firm based in California that has an established track record of building and transforming businesses. We look forward to working with them to help continue its growth and to help build our presence in the US marketplace." "This acquisition will allow Transverse to accelerate its competitive advantage by securing greater access to product lines and new distribution opportunities, serving the evolving and long-term needs of its MGAs and reinsurer partners more effectively. "Erik, Dave and Virgo have built Transverse into a proven player in the insurance fronting market, and we are excited to partner with the Company as part of our continued evolution at MSI," said Johan Slabbert, CEO of Amlin Distribution Holdings Inc at MSI. I look forward to leveraging the balance sheet, global footprint and deep institutional knowledge of MSI's team to further enhance our client offerings." I am grateful for the opportunity Virgo provided and am excited for this next chapter. We are honored to have had the opportunity to establish Transverse and are excited to watch its continued growth as part of a global leader in the insurance marketplace."Įrik Matson, Chairman, CEO and Co-founder of Transverse added, "Working alongside Virgo to fund and grow Transverse has allowed the Company to quickly adapt and thrive in the fronting industry. With Erik and Dave remaining at the helm, Transverse is well positioned to continue expanding its customer base and industry reach under the MSI umbrella. "We identified the fronting segment in 2018 as a growing and underserved market in which we could build a differentiated competitor, and are proud of how we built Transverse from the ground up to provide both MGA and reinsurance clients with innovative solutions. "We take a flexible and collaborative approach at Virgo, launching businesses in attractive niches when the opportunity is right," said Virgo founder and CIO, Jesse Watson. Since its inception the Company has quickly grown to over 50 professionals, claiming a meaningful share of the U.S. Transverse was established in 2018 by Virgo and co-founders Erik Matson and Dave Paulsson. 10, 2022 /PRNewswire/ - Virgo Investment Group ("Virgo"), a private investment firm with a track record of building and transforming businesses, today announced the sale of Transverse Insurance Group ("Transverse" or the "Company"), a U.S.-based, hybrid fronting company, to Mitsui Sumitomo Insurance Company, Limited ("MSI"), pending Regulatory Approval. ![]()
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