The premier insurance program market services firm, Incline P&C Group, has announced it has secured a significant investment of $125m.
This substantial financial injection comes from Braemont Capital, a relationship-focused investment firm known for partnering with growth-centric companies. The further financial terms of the transaction were not disclosed.
Incline P&C Group, based in Austin, Texas, brings over 75 years of combined industry experience. The firm excels in program management, disciplined underwriting process, risk management, reinsurance expertise and economic alignment. Their current programs cover a wide array of insurance lines including private passenger auto, cargo, commercial auto, flood, homeowners, motorcycle, pet and workers’ compensation insurance.
Robert Covington, the managing partner of Braemont, shared his pleasure about the partnership with Incline P&C Group. Covington said, “The company has experienced incredible growth in premium volume and program acquisition and through this investment, we are excited to join Incline on their mission to continue to be the premier insurance program market services firm.”
Furthermore, Incline’s president and CEO, Chris McClellan, expressed his satisfaction with the partnership with Braemont. McClellan said, “Their relationship-driven mindset will add great strategic value to Incline as we advance our company, meet the needs of our clients and expand our capacity for new business.”
The firm, licensed in 44 states and distributed through 52 independent managing/general agents, began operations in late 2015. Within less than 8 years, the company’s carriers are projected to write over $1bn of cumulative premium in 2023. The newly raised capital is earmarked for expanding Incline’s service offering and to fuel the firm’s growth.
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