Coaction Global raises $200m equity raise for specialty insurance growth

Coaction Global, a rising player in the specialty insurance sector, has successfully raised approximately $200 million in an equity capital round. This strategic financial move aims to bolster the company’s ongoing transformation into a comprehensive specialty insurance provider. The capital infusion was spearheaded by TowerBrook Capital Partners L.P. and Further Global Capital Management, both of whom are existing investors in the company.

CEO Jonathan Ritz on the Impact of New Capital

“This new capital will support our continued growth and demonstrates the strong ongoing support of our investor group,” said Jonathan Ritz, CEO of Coaction Global. “We continue to see abundant opportunities in the market to deploy the additional capital in a prudent and disciplined manner.”

Transformative Steps in Coaction Global’s Journey

Since its inception, Coaction Global has undertaken significant strides in reshaping its business landscape. It has established a completely new senior executive team, expanded its underwriting divisions, and strengthened its distribution relationships. In addition, the company has notably improved its data and analytical capabilities. Currently, Coaction Global generates over $1 billion in annual premiums, offering a range of insurance products across Casualty, Excess Casualty, Multiline, Executive Lines, Property, Entertainment, and Binding Authority verticals.

Advisory Roles in the Transaction

Sidley Austin LLP served as the legal advisor for the equity raise, while Truist Securities, Inc. acted as the lead arranger for debt financing in the transaction.

The successful capital raise serves as a testament to Coaction Global’s effective strategy and robust investor backing, setting the stage for future growth in the specialty insurance market.