Investment Banking - Capitol Insurance Company
Transactions | Insurance
Client: Capitol Insurance Company
Transaction Type: Mergers & Aquisitions
Role: Sell-Side Advisor
- Capitol Insurance Company (“Capitol”), headquartered in Lafayette Hill, PAwas a Pennsylvania domiciled insurance company that since 1990 focused exclusively on offering personal motor vehicle insurance at the Commonwealth’s mandated minimum policy limits ($15,000/$5,000/$5,000).
- Capitol wrote ~$20 million in premiums, had an asset base of $15 million and served roughly 13,000 policy holders.
- Due to deteriorating conditions in the auto insurance market between 2015 and 2017, Capitol faced severe capital needs.
- Glacier Capital Holdings, LLC (“Glacier”) purchased Capitol and invested capital to achieve appropriate statutory surplus and support growth initiatives.
- Glacier brings additional operations expertise, distribution capabilities, and capital to support Capitol’s growth.
- Boenning initiated this transaction and served as exclusive financial advisor to Capitol Insurance Company.